June 2012
Beginner
675 pages
16h 14m
English
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This Way to the Egress
If trend trader AmosHostetter of CommoditiesCorporation lost 25 percent,he’d exit:
“Never mind the cheese.Let me out of the trap.”
The paramount factor when the market goes against you is being able to say: “I’m out!” You need a prenuptial agreement with the market.1
That means the time to think most clearly about when you will exit is before you ever get in. A set in advance sell strategy gives you the opportunity to not only preserve capital (you need chips to play afterall), but to redeploy your limited capital to more favorable markets.
How do trend traders get out of a losing position? Fast! For example, you enter gold with a 2 percent stop loss. This means if you lose 2 percent, you exit. Period. Get out. There is ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.