moonchild
VIP Contributor
As the Aphorism goes, cut your losses and let your winners run, this is basically what everyone is saying, but how can you use this to your advantage, what those cut your losses means and how can you implement it personally, cutting loss depends on how strong your psychology is.
For example, if you're in a trade and it starts going against you, you should instantly get out, do not be allowing price to hit your stop loss before you exit, most times you immediately notice if trade is not going in your direction, and that's basically what cut your losses short means.
For example, if you're in a trade and it starts going against you, you should instantly get out, do not be allowing price to hit your stop loss before you exit, most times you immediately notice if trade is not going in your direction, and that's basically what cut your losses short means.