In this video post, I am going to share with you the importance of knowing when you are wrong.
Whenever a trader puts on a trade, he has to know the point to get out when the trade has gone sour. But the question is, when does the trade go sour?
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This depends on his original trade idea. If the original trade idea is invalidated, he has no reason staying in a trade any longer.
This is explained with a palladium and soybean trade I recently took. I exited these trades with a win and loss respectively.