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Non-Tech : MB TRADING
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To: Larry Shelor who wrote (3543)1/28/1999 7:30:00 PM
From: Rick Faurot  Read Replies (2) of 7382
 
I use mental stops. You should develop a discipline of quickly getting out of a trade that doesn't go the right way. I prefer to take a maximum 1/8 loss in a trade. If it turns around after I stop out, I might reenter. But once it is going the wrong way, I get out fast. If you don't do this, you will have the experience most traders have of losing thousands of dollars on one trade. Better to bite the bullet at 1/8, trust me.

RickF
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