Before all else, erase the words ârightâ and âwrongâ from your belief system. Master âsupportâ and âresistanceâ. A price cannot be too high or too low. Honor thy stops. âEvery big loss was a small loss once.â If in doubt, get out. Once in a trade, place a stop at the price that invalidates your original signal for putting on the trade. If you place a really wide stop at a ridiculous price that could not possibly be reached, prepare to lose that amount of money. Finding yourself checking the Yahoo message boards when holding a losing trade is one of the strongest exit signals available.