Michel Pireu Columnist

From Boris Schlossberg at BKforex.com: In practice there is absolutely no way to let your profits run while cutting your losses short. You either cut your profits or cut your losses, but you can’t have it both ways. That’s because markets almost never move in just one direction. Anyone who has ever been able to "let his profits run" is simply a lucky idiot who, like a befuddled lottery winner guessing a random number, just happened to catch that one big breakout and then was stupid enough to believe that it would continue without retrace and then was lucky enough to have that once-in-a-decade occurrence actually happen and lastly — and this almost never happens — was smart enough to exit before the whole trade went right back to where it started from. Cutting profits Now "professional gurus" would be horrified at my blasphemy. They would tell you that one of the worst things you can do as a trader is to cut your profits short. After all, how are you supposed to pay for all those sto...

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