Friday, 24 February 2012

GET OUT OF YOUR LOSERS :

GET OUT OF 10 YOUR LOSERS.


You are not a loser  because
you have a losing trade on.
You are, however, a loser if
you do not get out of the losing
trade once you recognize that the trade is no
good. Its amazing to me how accurate your gut is as a market indicator.
If, in your gut, you have the idea that the trade is no good then its
probably no good. Time to exit.
Every trader has losing trades throughout the session. A typical trade
day for me consists of 33 percent losing trades, 33 percent scratches
and 33 percent winners. I exit my losers very quickly. They dont cost
me much. So, although I have either lost or scratched over two-thirds
of my trades for the day, I still go home a winner.




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