Protection Of Capital First, Making Money Second

That has been my motto as i learned this lesson the hard way. Making money is not nearly as enticing to me as getting my money back. When you have the discipline to cut the trades that FIGHT you early on, you will give yourself a much better shot at staying in the game and you will avoid the head games that come when you managing a trade that is not cooperating. I will always happily buy it back later, if it can prove to me that it will play ball with me. I try and not allow a stock to bully me around. Much better off to cut it loose early and step off until more "playbale" conditions come back.