The Logic of Batch Buying and Selling

Selling in stages means exiting positions gradually—some sales come too early, some too late, and some at the absolute peak.
Why sell too early? To lock in partial profits, to use those gains to bet and take calculated risks instead of risking your original capital.
Why sell too late? To squeeze out every last bit of profit, accepting the unavoidable loss that comes with it.
"Sell too late" perfectly captures the idea that profit and loss share the same source—because that's the exact turning point where your quest for gains becomes a loss.