"Take your losses when they are small because if you don't they are sure to get large. In this regard, discipline is of the highest importance. It is a cardinal mistake not to take a stop if is hit. It's even worse if the stock comes back and turns the trade into a winner because now you have been psychologically rewarded for making the mistake.
Get out quickly and re-assess the situation. If you think it will come back, put on a new trade with a new stop. Faith, hope and prayer should be reserved for God - the markets are false and fickle idols."
(whole article here)
Friday, July 4, 2008
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Forex - about Stop Losses
Posted by Dan Tincu at 9:54 PM
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