A: First off, congrats on the profits and way to go!
Now, it would be inappropriate, not to mention illegal, for me to provide you with personalized advice. I don’t know nearly enough about you, your investment goals, and risk tolerances.
But I will say that one of the best things any investor can do is take money off the table.
Practically speaking, the fact that you are wondering about taking profits tells me that’s probably an appropriate thing to do. That’s important because we all have common sense as kids… it’s just squeezed out of us as adults.
Case in point – and we’ve all been there – is the temptation to let investments run in the name of bigger profits.
The problem is that nobody knows if and when a correction will hit – not even me. That’s one of the reasons I encourage the use of trailing stops (see below). The trailing stop accomplishes three things: 1) you can ride the bull still higher if the markets want to run, 2) you keep risk to razor-thin levels, and 3) you take emotions out of the equation.
The way I see it, you can never go broke taking profits.