Example. I bought Black Berry @ $11. Went up to the $20s and fell all the way back down to $12. Rode it up wanting $33 and it failed to hit that and when it came back to close to my cost basis I bailed at $12.20 something. Blackberry is like almost $14 now. Had I just held on through the chaos and exited later I would have made more. It may still rise higher.
Never make a single move in the market without conviction. BB could have fell 50% only to later rise 1000% for all I knew. I could never complete that journey because didn't believe in the company enough deep down to go below my cost basis when shyt hit the fan.
That's why I look at all the people that look at DFV who made millions off Gamestop thinking that could be them. It couldn't. If it could they'd be figuring out their own move to produce such results instead of trying to chase other people into the moves they make.
Look at all the Tesla millionaires. They had conviction. Telsa shook many people loose on it's journey to where it's at. Myself included. Later still many people got back on the bandwagon after it felt "safe" myself included.
Unless you have absolute conviction in what you're doing don't make the move because you won't follow thorough.