Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Ken Wolff who wrote (96)	1/8/1998 5:30:00 PM
From: Ken Wolff	Read Replies (1) of 2120

Rule #7: TAKE PROFITS WHEN YOU HAVE THEM! You will never go broke taking profits. I am generally a "nervous" trader which gives me the fast sell trait. Sometimes, more profits can be made if you ride out the selling on a stock that is going UP. But the stocks that reverse and continue down, do so at such a rapid pace that the losses can be excessive. One of the biggest faults traders continually have is the SECOND GUESS. They continually second guess their trades by allowing 20/20 hindsight to dictate their trading. Daytraders live in the moment. I take my small profits and wave good bye no mater what the next direction is. I have never been sorry. Ken mtrader.com

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