Secret 18
Never let a good profit turn into a loss
This is one of those trading sins that have ruined many a hope. If you have a decent profit in any position and you are absolutely sure it is going to grow larger, at the very least, place a physical stop where (in the worst case) you'll break even. If the market is any good, your stop won't be hit. Should the market continue to move in your favor, keep moving your stop to lock in at least some profit. The objective is always to protect your principal in every way possible, and when you are fortunate enough to start accumulating paper profits, lock them in.
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