$NIO You can’t let emotional attachment to the temporary movements of the stock price inform your investing decisions. When the price is going up, everybody thinks they’re an investing genius. When the price is down, people begin to question whether or not it was such a good investment to begin with, even though nothing about the company has actually changed. It’s a common psychological trap. That’s why knowing what you own, why you own it and building your own strong conviction is key. You will never make it out of the stock market alive and with profits without conviction.