a big key especially to swing trading is to set a stop right
after you enter a position, don't wait around, because if you
don't, it then becomes emotional; that's how traders end up letting
a small losing trade turn into a big losing trade - they hold and
hope instead of following a set discipline. Of course if you
are day trading, then setting an initial stop is not that important
because you are generally out quickly.
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a big key especially to
Stops
Posted by matt on 15th of Dec 2009 at 10:36 am
a big key especially to swing trading is to set a stop right after you enter a position, don't wait around, because if you don't, it then becomes emotional; that's how traders end up letting a small losing trade turn into a big losing trade - they hold and hope instead of following a set discipline. Of course if you are day trading, then setting an initial stop is not that important because you are generally out quickly.