itswhatido : I'll disagree with Jade's comment "you only lose if you sell".... GOOD traders know that "loss" is part of what we do. The difference between winning traders and losing traders is HOW MUCH loss. Good traders keep the loss to an absolute MINIMUM.
Rules of thumb: Pick your BEST price you can. IMMEDIATELY calculate what 3% of THAT price is.... as SOON as your trade goes AGAINST the price you bought @ BY 3%.... SELL, get out, keep your loss small. Let it drop....If it drops below where you sold @ you can get back IN @ a lower price...and with even MORE shares than you had before....THEN ride it back up. Usually making back your loss QUICKLY + profit.
Never buy and then "hope". Deal with the reality of the numbers in front of your eyes. This requires SELF DISCIPLINE.
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