Pat, Help! I'm working to do a better job of cutting losses before the 7-8% (or worse!) range but I find that when I cut, at breakeven or 1-2% down, the stock may still be above the 8ema. But because the initial buy was a bit above the 8ema, if I let it fall below that line, my loss may get to 4% or so. The problem is the stock turns around and continues in an uptrend and I'm sitting on the sidelines....again. I have not been making the returns like I should in such a good market. How do I balance cutting loses small when there's a reaction in the market vs holding on for an uptrend? I can't sit in front of my trading screens all day so I need rules to live by that take the emotion out of it (when I have brief moments to 'tune in') and allow me to set automatic triggers.
Thank you in advance for your guidance.