The Importance of Entry and Exit

The more I delay that entry event, the more material the price move has become before I enter that trend. Now what that does to me is that, therefore, it pushes my entries out towards the tails of the distribution. But as you say, exit is very important because exit, the method of exit ultimately determines the level of P and L you obtain. So I'm a big believer in trailing my stop. A trailing method is the ideal technique to capitalize on this propensity for some trends to become extreme in magnitude.

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