Newbie traders and experience pros alike need to heed one word of advice to avoid catastrophe: Always have a plan before the trade is made. Otherwise, traders are simply throwing themselves at the mercy of their own emotions.
That’s what Stephen “Sarge” Guilfoyle, president of Sarge986 LLC, said at the latest Yahoo Finance Premium webinar, where he broke down some key tenets of risk management. “What did Mike Tyson say? Everyone has a plan until they get punched in the face. In the infantry,…
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