Finding Confidence in the Stop Loss Principle
I spoke with one of our coaching students today. He has been through the product courses (Launch Pad and Nth Degree) a total of
three times each. He has been entering trades based on the signals and he told me he is finding great benefits from having the courses
as a guide for him in his trading. He has the confidence and is seeing success in his trades However, he did mention to me that he has
been using a "take profit" but not using a "stop loss". He was not comfortable with that yet. My question is this. How could you
feel comfortable with out it? I never trade with out a stop loss to protect my capital. This might mean that I will have a streak
of small losers before I get a bearing on the market, it's direction, and mood. But once I do I have great success that far out reaches the small losses that I took early on in the trend.
Please, please, please, learn to find confidence in using a stop loss. This is the first step to having a sound money management program in place.