“What percentage do you set for the stop loss…”

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Hello Michael,

Question: How do you set your stop loss after you buy a stock? I have never set a stop loss. What percentage do you set for the stop loss and likewise, what is your profit exit strategy? I am a novice but have recently hit a lucky streak (up 20% on a $25,000 account) and want to preserve my profits but continue trading.

Thanks
James S.

You need:

• Exact rules for selecting your tracking portfolio.
• Exact rules for entering your trades at the right time.
• Exact rules for exiting your trades with a loss.
• Exact rules for exiting your trades with a profit.
• Exact rules for how much money to bet on each trade.

You need more than you think you need.

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