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® “Home-Study Course” Study Manual Page 33
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WEEK ONE:
STUDY SESSION #4
SETTING STOP-LOSS EXITS
Never trade without knowing exactly where you will get out if the trade
goes against you. All large losses start as small manageable losses. Let
me share with you an E-mail I received from a trader visiting the
TradersCoach.com® website. It illustrates the importance of using
stops:
“Dear Bennett, I received your email and I think your techniques
along with your software are fantastic.
Unfortunately for me I am stuck in a bad trade where I was
caught without a stop/loss in the March 'BP' several weeks ago. I
have lost so badly that I think I may have to fold up my trading
tent and seek a job! I have been waiting for a reversal but I do
not think one will materialize by expiration. I see a potential
triple top forming but I do not know how long the funds will press
the upside. I am looking for scalp trades in other markets with
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