Ah, the golden rule of trading – never turn a winner into a loser. It's like protecting a precious gem once you've unearthed it from the depths of the market.
When I find myself in the enviable position of holding onto a winning trade, my primary goal is simple: protect those gains at all costs.
You see, it’s easy to get greedy when the profits start rolling in, to let the allure of even greater riches cloud your judgment. But I’ve learned the hard way that chasing unrealistic gains often leads to painful losses. That’s why I have a steadfast rule: once a trade starts turning a profit, I set clear exit points and stick to them religiously.
Sure, it might mean leaving some potential profits on the table, but it’s a small price to pay for preserving what I’ve already earned. After all, a bird in hand is worth two in the bush, right? By locking in my gains and avoiding the temptation to overstay my welcome, I ensure that every winner remains just that – a winner.
So, fellow trader, remember this mantra: never turn a winner into a loser. It’s not just about maximizing profits; it’s about protecting what’s rightfully yours and living to trade another day.
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