MASTERING THE ART OF THE EXIT

Is it really any harder to make money now than it was a year ago? Two years ago? The markets don't look so confusing if you take a step back from the charts. In fact, it appears that they're simply consolidating gains after a strong bull run. So why all the long faces?
Most traders chase the market around, hoping to catch a trend higher or lower. Once positioned, they ignore the warning signs and sit in small losers until they become big losers. They wait to get bailed out when it's their responsibility to keep accounts lean, mean and profitable.
It's especially tough for new traders now, because many of them are closet investors. They expect to be rewarded for a buy-and-hold strategy. The only way to defeat this mentality is to manage an aggressive exit strategy on all positions

MASTERING THE ART OF THE EXIT