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All About Day Trading by Jake Bernstein

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CHAPTER 14Almost a Day Trade: Preholiday Seasonality

By definition a day trade is closed out at the end of the day; otherwise it’s not really a day trade. The struggle—indeed the obstacle—constantly confronting the day trader is whether to hold a losing day trade beyond the end of the day in the hope that it will become profitable or, if profitable, to hold a day trade beyond the end of the day in the hope that it will become more so. Based on experience and statistical evidence, I believe a day trade held beyond the end of the day will not necessarily get better a predictably high percentage of the time. Therefore a day trade is a day trade is a day trade and must be closed out as a day trade if entered as a day trade. Regardless of statistics ...

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