Forgive my simplistic questioning, as I am relatively new to investing, but I hope through my questions and subsequent responses/guidance that myself and others can learn.

When to sell:

Through books, online reading, and guru's near and far I have some basic guidelines I try to follow when deciding when to sell a stock. I appreciate there are perhaps more complex, and better, ways to develop guidelines which I welcome, but for the time being my simplistic approach is the following.

If I'm in profit
I tend to generally stick to the rule of selling at around 20%+ on gains, though I am starting to develop a more methodical approach of looking to have some form of trailing stop approach to maximise profits whilst protecting losses

If I'm in a loss
Yes, the bigger challenge is in investments that are under-performing. I try to stick hard and ruthless to the process of killing anything that shows more than 10% loss, but where I find this difficult is in stocks that have good fundamentals, strong cash flow, profits, no debt but still under-performing. Here I try to be more lenient, yet hand on heart know this is wrong. A good example would be Character (CCT), I'm probably about 15% down on this one, but with strong fundamentals, and a Stockrank at 92 it's a tough one.
My question is not advice on whether or not I should sell CCT, but about when it's right to break your rules because elements such as a stockrank or fundamentals say so?

I welcome your guidance, feedback and thoughts.

Thank you

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