There is a fact of life in the market: there will be losing trades. The best approach is to cut losses quickly. As they say, the first loss is the best loss.
In this video I discuss how important it is to trade with an exit strategy. We need to know when a trade is going against us.
▶️ 3Speak
@taskmaster4450le no trader can be right all the time when trading on the market but when there is a risk management strategy in place then the trader would be able to cut their losses and be safe....
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lack of a good exit strategy is the reason why some traders have lost their investment,that is why as a trader we must have an awesome exit strategy that will enable us to cut losses quickly...great post from you @taskmaster4450le
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Before entering a trade, each trade should have a stop and target. The stop is just the cost of doing business. I have learned that once one gets comfortable losing the rest is easy because if someone has a trading edge, the wins will greatly outperform the losers.
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Absolutely. Nobody is right 100% of the time in the market. However, by cutting losses when they do occur, one does not even need to be right half the time to come out ahead. Let the winners run and cut the losers immediately.
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in life itself,we win some,welose some,the ability to control the losses matters alot...you are right sir...
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