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All About Day Trading by Jake Bernstein

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CHAPTER 10Risk, Reward, and Profit-Maximizing Strategies

While many traders understand the importance of managing risk through the use of stop losses and trailing stop losses, relatively few traders have developed profit-maximizing strategies. My experience as a trader for over 40 years has led me to a number of valid and persistent conclusions that have served me well and that I believe can do the same for you. But my conclusions and recommendations will be to no avail unless they are implemented consistently, aggressively, and persistently. My suggested strategies must be more than just words on a piece of paper or a computer screen. The successful trader takes action. The losing trader pays lip service to highly valid concepts and procedures. ...

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