When Your Wrong, Your Wrong And When Your Right, Your Right!

When Your Wrong, Your Wrong And When Your Right, Your Right!

Learn to be disciplined when trading, but take action when appropriate. If a trade that you have placed is clearly going against you, uncross your fingers, and get out of the position rather than praying that it comes back in your favor

 
Learn to be disciplined when trading, but take action when appropriate. If a trade that you have placed is clearly going against you, uncross your fingers, and get out of the position rather than praying that it comes back in your favor–as the saying goes, it’s never too late to turn back on a wrong road. Likewise, when your position is making money, hesitate before jumping out to take a quick profit. Consider using a Trailing Stop Loss to lock in gains as your position moves further into profit territory.