“I used to say we take a small loss, but I think it’s better to take
an optimal loss. You don’t want to take one that’s too large
and yet you don’t want to have your stops so close that
you’re going to get bounced out. [Just] hang on to the trade.
Don’t get too excited. If you’re not making very much money,
that’s fi ne. If you got a little loss, that’s fi ne. If you make a decent
profit that turns into a loss, that’s fine. Just hold onto it and then
really get aggressive when you’ve been rewarded by a big, huge
profit” ------------- Jerry Parker
Loving the turtle trader, you guys need to buy this book, it’s an extended view of this thread.