December 3, 2017

Know when to break your trading rules

Image result for ed seykota know when to break rules

Explanation: say you have a rule for trailing SL based exit. There will be times when you have a big engulfing bar or a big move in opposite direction. At this time, a smart trader will exit immediately without waiting for the trailing SL to be hit.

So it is not about breaking your rules... it is about KNOWING when to break the rules.

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