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Walter
Could you say a little more about your proven correct criteria? What
does a trade have to do to prove itself correct? Also, do you put on a
safety stop when you place a trade and is it a mental stop or an actual
stop placed with your broker.
John
Walter Lake wrote:
>
> Hi John
>
> Entry into the market is usually seen as a "go". However, I see it as a
> "maybe". "Maybe" thinking is not enthusiastic but is skeptical.
>
> In addition to my entry criteria, I also plan my "proven correct" criteria.
> Only after the trade has met my "proven correct" criteria is it a "go". If
> it doesn't meet the criteria within the time frame, I dump it. My research
> on the MAE of the tradeable indicates that what goes, goes.
>
> This is not a "stop", but a not "proven correct" exit.
>
> Trade management of "go", including "safety" stops, and other "management"
> stops is a different topic.
>
> Let me know how you plan this intermediate stage of your trade plan.
>
> Best wishes
>
> Walter
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