|
PureBytes Links
Trading Reference Links
|
One should not use price alone as an exit criteria. there are always 3
factors. Price, time, and momentum. One will give you the information necessary
to exit the trade profitably. Have a good day, Ira
BrentinUtahsDixie wrote:
> RT's,
>
> I had an idea I hope a few of you might get involved in. We have all heard
> (or should have) that we must un-learn many wrong lessons that we have
> learned in life in order to be successful at trading. I'm hoping that we can
> come up with a list of those lessons for our mutual benefit.
>
> I will start out with what I call the "Hogging it lesson". Occasionally I
> hear my father say "it's just an old fashioned idea to get the very most
> that you can." There are times in our experience when this is true. However,
> I'm sure that many have had this experience. You set a profit target for a
> position after making a trade, the security goes within a few ticks of your
> target and pulls back so that you don't get filled. You may then compound
> the mistake by holding on until the trade actually becomes a loser.
>
> Brent
|