Stocks & Commodities V. 30:13 (60-63): 10 Signs That Tell You When To Stop Trading by Matt Blackman

Stocks & Commodities V. 30:13 (60-63): 10 Signs That Tell You When To Stop Trading by Matt Blackman
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10 Signs That Tell You When To Stop Trading by Matt Blackman

Everybody is hunting for the best buy signals, but this focus ignores a major trading reality: You donít earn a penny until you sell. And you wonít keep it if you donít know when to sit on your hands.

Making money in the markets is a 10/90 proposition ó 10% buying and 90% selling, according to trader Larry Williams. But take a look at any trading system or service out there and youíll find they have one thing in common ógenerating buy signals. When exit signals are mentioned, itís almost as an after-thought to the main message. Educators and systems developers will tell you that the sizzle comes from getting into the trade, leaving students to learn about money management strategies, including when and how to exit on their own.

It is the same old story when it comes to staying out of the market. How many trading books have you read or seen advertised that teach you when to sit on the sidelines than be invested? Not many!

Why not? Itís simple. Exit strategies, money management, and stepping aside simply arenít sexy. Meanwhile, traders are happy to spend a bundle to get the latest buy signal, even though they donít put a penny in their pockets until theyíve sold. And itís easy to lose it all by trading an ugly market.

With these realities in mind, I thought it was high time to examine signs used by a well-known trader to see what he looks for when heís exiting trades and what keeps him out of the market altogether.

These are lessons that Dan Zanger, host of ChartPattern.com, had to learn the hard way. It was an expensive lesson but one that he says is necessary for all traders need to learn if they want to be successful. And what he learned stood him in good stead in 2011.




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