Someone recently told me that they bot (bought) BAC (Bank of America) a month ago or longer at $14.25. There thinking was it had already rallied from $4.00 thinking what they heard (noise) from the street it was going much higher. Wanting to prove how smart they were, held on as BAC day after day drifted lower and lower. Oh, I agree as some point they will be right but what about the lost opportunity? You see, your money is tied up in a losing position, you are losing opportunity daily. How much money could he have taken out of BAC if only he had followed Fast_Money trading and taking a little out most every day? The followers of Fast_Money know! Trade like a machine; don’t let the noise of the market deafen you. Know you style, and system. For me I use very close stops both buy and sell points. You see I figured out some time ago if you make a series of small-calculated executions using small-predefined stops you will begin to take money out of the market like an ATM machine.
:-)
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I hope you will learn from my years experience as a professional trader.