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Risk Management for the Everyday Investor

01/03/2019 11:42

...Unless you can monitor a trade 24/7 or take the emotion off your sleeve, then a stop loss is a requirement of trading for long-term success. When you enter a trade without having any idea of the points at which to sell and walk away or take profit, that can be the difference in survival or erosion of capital.

The old adage of “no one ever went broke taking a profit” is something that I am a firm believer in. Becoming greedy with a winning trade and not taking any off the table is a sure-fire way to have the position complete a “round trip.” The goal is to increase your capital and never let a winning trade turn into a losing trade...


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