When to sell*
By: Shannon Lin, frequent seller of 8 years
*Disclaimer: These are some tips and tricks, not sure fire investment advice.
We recommend checking out our new investor blog if you’re completely new to investing, welcome!
When’s the best time to sell?
- There’s many expert opinions out there, here we summarize some thoughts for you
- Sometimes it’s helpful taking another perspective so we’ll start with a tip of when NOT to sell
Reconsider selling if your reason is…
- Gambling, this can be fun but dangerous for your wallet!
- Seeing the price decrease scares you.
- To combat this, set a threshold ahead of time to hold yourself accountable to selling when you told yourself you would. For example, “I’m going to sell if the price falls more than 10%.” → If it falls <10%, don’t sell. If it falls >10%, sell.
- Everyone is selling so I have to sell too
Potential good reasons to sell
- You think something has fundamentally changed about the company that worries you
- You need the money, whether to cover an extraordinary circumstance, personal expenses or to put towards another ticker you believe has a greater potential
- You’re happy with the profits and want to treat yourself
How to sell on Birdwingo app
- On the home page, click on your investment → Trade → Sell
- Input/select your desired sell amount (flip between $ or shares by tapping the gray option under the inputted amount)
- Click sell now and expect to receive your funds when the market is open (instantly if it’s during open hours)
Congrats, you sold! How to withdraw from Birdwingo app
- Click on the Account page → Withdrawal
- Type your desired amount → Continue
- Expect to receive your funds directly to your bank account within 2 days
Summary takeaways 🗯
Reconsider selling if your reason is based on external factors and consider selling if you’re happy with the gains or need the funds!
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