Trading Wisdom – Michael Marcus

winningtradeWhat is the best thing a trader can do to increase their chances for long-term success? Market Wizard Michael Marcus gives us a glimpse with this insightful quote: “Taking advantage of potential major winning trades is not only important to the mental health of the trader but is also critical to winning. Letting winners ride is every bit as important as cutting losses short. If you don’t stay with your winners, you are not going to be able to pay for the losers. In addition to not overtrading, it is important to commit to an exit point on every trade. Protective stops are very important because they force this commitment on the trader.” True words of wisdom!

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