1. Cut Losses Quickly. 2. Cut Losses Quickly. 3. Cut Losses Quickly. 4. Cut Losses Quickly. 5. Cut Losses Quickly.
;-)) But define "Loss", when quotes wiggle up and down (a trend wiggles more in one direction than the other).
When you get into a trade your exits should be set. You have decided at what point you are wrong. Take your loss at that point. If you give the trade a little wiggle room and it works in your favor it will reinforce a bad habit and cost you in the long run.
deaddog: for mere mortal traders that sounds like a sensible thing, i do the same. For trading-gods like cable, who INVARIABLY trade out of all loosing positions, that is not necessary.
lol, incapable of sustaining a reasonable discussion with reason and logic you resort to sarcasm......good job! (ps - by the way 'losing' only has one 'o', it's a word you'll need to use frequently by the sounds of it!) Enjoy your stops.....the market and your broker appreciate your generous donations I'm sure!
I have to apologize for raping your wonderful language, i'm not a native English speaker, i'm sure your foreign language skills are just as impeccable as your trading, and i can not, once again, compete on that level. So do you really, like you said, invariably trade out of all losing positions, or not? If that is true, 'trading-god' would be a fit description in my opinion, and i would stand in awe. Of course, claiming something on an internet bulletin board and reality maybe two different things. You yourself are in a habit to point out that very fact to the shills quite often, so i humbly ask to excuse my skepticism. Yours truly, P.
Well darn it fella, fire some of it over in this direction, I'm a poor daytrader!! I've been waiting for decreasenow to start posting some extreme trades, I'm pumped and ready to roll!