When you get profits, don't give much back

Cont'd discussion about Electronic Day Traders' Secrets: Learn From the Best of the Best DayTraders.

Steve Girden Interview

If you give back 20% of what you’re up for the day, cut down your position size. If you give back half of your profits for the day, cut down even more.

There are 20 trading days in a month. On about 17 of them, you play for singles and doubles. Then on 3 of those days you might get a triple or a home run. Don’t look for a home run every day because it won’t happen.

...cont'd next week...

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