Sunday, July 19, 2009

Panic button

I think every trader should have a panic button in their mind. What does it mean? When the trend changes, traders should get out of the previous bets right away, even though some of the charts look still favorable to the previous trend. Lock in the profit or take the loss, just get out. The sooner the better.

I conclude this is a "must have" technique in a trading friendly market, like what we are in right now.

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