There are two things we all must learn. How long to stay in a trade when it is going against us and how long to stay in a trade when it is going in our favor.
We need a system and a set of rules that guide us on the beginning stop loss so it does not let us lose too much but also lets the market move enough so as not to take us out of the trade too soon or give us a “head fake”. This will help us control our fear. Then we also need to follow a system and a set of rules that let us know when to close a trade so greed does not take over and we lose all the money we have just made.
All we need to do is get some good signals and follow them.
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