Which is exactly when winners get handed back.
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Something happened last week that hadn't happened since October 2024. |
75% of S&P 500 technology stocks finished above their 200-day moving average, clearing a threshold the sector had missed for 219 straight trading days. |
Broad participation, tech working again, index at a record high. |
Which means if you're long anything in that group, you're green this morning. |
So here's the question almost nobody asks until it's too late. What takes you out of it? |
Not the stop. The win. At what number do you close the position and take the money. |
Every trader carries the same scar, and it isn't a big loss. It's the winner that went their way, kept going, and then round-tripped back to nothing while they held on for more. Losing money hurts. |
Watching money you already had walk back out the door hurts differently, and it stays with you longer. |
That keeps happening because entries are the only part anyone teaches. Scanners, signals, alerts, setups, watchlists. Nobody sells a course on getting out, and getting out is where the money actually gets kept. |
Tapes like this one are when it happens most. Everything is working, there's no obvious reason to sell, and right now the options market is barely charging anything for downside protection. The whole crowd has stopped budgeting for a bad week. |
Your account still has to. |
Your maximum gain, and the point where you take it, both settled before you enter. |
The exit number that keeps a winner from round-tripping |
To your success,
Don Kaufman |
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