How much patience should a trader have with a losing trade?

  The question on losing trades, all traders must answer for themselves, and there really is no right answer. The answer for any given trader must depend upon his or her trading approach, markets traded, risk tolerance and other factors. For me, the answer to this question is quite simple and multi-layered.

• My initial risk per trade seldom exceeds 70 basis points and is limited to 100 basis
• I aggressively advance protective stops within days (sometimes hours) after entering a trade.
• My goal is to bring a trade to as close to breakeven as possible, as quickly as possible!

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