I have a question that may seem quite the boring topic on the surface, but focuses on one of the most important aspects to trading that we all tinker with all the time â the exit. I want to know if the results in an article by Michael Gutmann called âCalibrating Profit and Loss Strategiesâ, as included in the February issue of Futures Magazine, is correct or not? I donât think so. Find the article here (without graphics): http://www.allbusiness.com/banking-finance/financial-markets-investing-securities/11768158-1.html For the purposes of this thread, only the first few sections up through âTwo-Tiered Scale Strategyâ are relevant. If you care to know more background on the topic, please read my next post. If you donât, this is a good time to move on before getting sucked into a query on basic mathematics and probability calculations.