One of the first rules I mention when it
comes to trading is to cut your losses and let your profits run. And if you are
not profitable in the trade on the first day, close the position. You can
always get back in the next day if you determine a new trade is desirable.
The most violent up or down moves in
markets can take place at the end of a trend, when the market is already
extended and overbought or oversold.
-----Victor Sperandeo
