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.
Always – Always – Always conduct your own review before initiating any trades. Never simply take our word for it; not only do mistakes happen, but our risk tolerance may not be the same as yours. Never treat the Key List as a “buy list” or a tip service. We are first and foremost an educational service; please always do your own research and trade with care!
