Don't catch a falling knife

 I held 200 stock of Tesla at $600 USD (pre-split) in early March 2020. Due to the pandemic and "shelter in place", Tesla stock dropped to $350. I saw a loss of $50,000.

I did not cut loss. I held on to the stock. Instead, I bought another 300 stock (average cost $400) while the price kept dropping. My friend advised - Don't catch a falling knife. (He is smart, isn't he?) Tesla stock turned unexpectedly. Later I learned that their Shanghai factory opened earlier than expected, and it produced many cars. Tesla stock short up to $800 by May. I sold off all the stock at an average price of $650 and made a gain of over $100,000. If I had followed my friend's advice to cut loss, I would have suffered a loss of $40,000 (or thereabouts). What is the lesson? * Don't listen to platitudes (don't catch a falling knife) * Understand the stock that you invest in, so that you can be confident under stress * By ready to hold a stock that is oversold in a panic. It will get over. * Never invest with borrowed money * Wait for luck to be on your side. Agree or not? https://fisca.sg/ArticleDisplay.aspx?ID=808