"Defense is not a last-minute move. You place it beforehand"
The habit of protecting gains after they appear is usually too late.
Where should I cut?
Shall I wait and see a little longer?
In the meantime, the shape collapses,
and the profits I intended to protect disappear.
Reverse the protection.
Before the profits stretch,
place a line somewhere that says “If this breaks, it’s over.”
Decide the protection line by the close of two counter-trend bars,
and thereafter, if it breaks at the close, it’s over.
Because you set the end in advance,
you don’t have to think about it while it’s rising.
Protection is not reaction; it is preparation.
Because you decide in advance,
you won’t hesitate later.
That structure
separates profits from emotions.
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