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can't agree with you more.
first, i worry more about losses than future profits once the trade
has been initiated. i consider all trades to be losers. less
psychological pressure that way.
second, i worry about the market moving enough to get out at breakeven
or a few ticks profit, should the trade move in my favor.
third, i worry or look at either getting out of the trade or reversing
it should conditions warrent. then the process begins again.
all these "worries" are money management related. also, they're
related to my psychological tolerance and adversion to risk. i try to
pick my battles through the trade entry. but once i'm in the thick of
combat, i always like to have my escape route planned in case the
battle goes against me.
TJ
better to retreat (take losses) and fight another day
---rod wheeler wrote:
I would suggest that you spend a lot of time on exit strategies and
money managenent techniques that fit your style and personality.
IMHO, we seem to focus the majority of our efforts on trade entries
only.
As I've said before, the Holy Grail dances near the exit door.
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