If you are a momentum breakout trader, you know all breakouts don’t work. Some fail. But, when do you cut your position? Do you follow William O’Neil’s approach in his book, How to Make Money in Stocks, and allow 5% – 8% wiggle room? Certainly not in this current market environment.
At Mission Winners, we cut losses much, much quicker. In this video, Pat goes into detail about how to spot a failing breakout and what you should do to scale out of a position before it results in hurtful losses to your precious capital.