Barry Ritholtz, Bloomberg and The Big Picture, writes about what one can learn about investing from mistakes, here…
Here is a good one:
Always Have an Exit Strategy
Parets observes what he describes as an obvious but overlooked strategy: “Always know where you’re getting out before you even get in.” This includes having a sell discipline for both winning and losing trades. The key to successful trading is managing your exits regardless of how the trade turns out. “Markets don’t care what your cost basis is.”
Leave a Reply