WHEN IS IT TIME TO SELL ? In my opinion if you are long a futures contract and you have lost 2% of your account balance on that trade exit and move on and look at other trends that are beginning as the theory states.
Generally speaking if you long a futures contract I would place the stop loss under the 2 week low which is also the 10-day low as well as an exit strategy as the theory states if a market has been going against you for that time frame that means that you are probably wrong so it’s time to move on.
Successful traders exit losing trades very quickly as its a mathematical certainty that you will have losing trades so you must manage them well as no exit strategy is 100% correct, but that’s one that I’ve been following for many years and I think it works well.
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com
Skype Address: 5da1f85979b7117b
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