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When you are wrong get out fast. !

This is one of the most important things to do. Yes, get out of the market as fast as you can when you are wrong, and remember the market does not care so you better. Live today to trade another day. That is why it is so important to risk only 2% or less of your equity on any trade. Look at the trade below dated Sep/28/2009 (took it from my trading log), there was a nice set up for a short trade, I made a mistake a enter the market too late, minutes later the market turned against my position but my stop loss was there to protect me, I lost US$ 135 (5 contracts traded), but here I am today still trading.



Think long term…..

Stay tuned for more.

Regards,

Humberto Malaspina.
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