059: Reducing Drawdowns with Scott Phillips
Better System Trader
00:00
How to Lower Your Average Loss Over All
If you're going short ona akout sst on a brakout system, and you see a trend day in the opposite direction as youre entry within the first three or four days, that's a good time to get out of that trade. Bcause the odds are no longer in your favor. If i'm not biased as towhads my position, if i'm not talking out my own book, and i see evidence that this trade is no longer in my favour, I want to build that into my system so that i get out. And in doing so, i want to lower my average loser. So it'll either be a small win or a small loss.
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