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  |  JUN 1987

Maximizing profits with stop orders: The Wyckoff method of trading stocks part 11 by Jack K. Hutson

Maximizing profits with stop orders: The Wyckoff method of trading stocks part 11 by Jack K. Hutson No matter what technical system you use, the first rule of successful trading and investing is: Cut your losses short. No one believed more firmly in this sage advice than Richard D. Wyckoff. ""No one can trade or invest without losses,"" he said. ""Danger is present in every trade, whether it be for investment or speculation. In the stock market you must be constantly on your guard: Always be expecting something to happen."" Stop orders, in Wyckoff's view, are the mark of a professional attitude that acknowledges the ability to falter and the wisdom of money management. Stop orders also are an aid to judgment, allowing the trader and the investor to operate with less concern and more mental

by Jack K. Hutson

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