Managing trades when they don’t go your way
As traders, we are looking to win, and taking profits is what we are here to do. If only things were that simple. Understanding how to manage losses is equally a part of trading. What happens when we’re wrong?
How do we control risk?
The risk of ruin is not a myth. It is real but can be avoided if you understand the right strategies to minimize losses. There is no reason to blow up an account.
Check out today’s video of a day trading example where the NASDAQ did not go in our favor.