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Last week, we discussed how to manage drawdowns, today we discussed how to handle periods of success which come prior to drawdowns. If properly managed, a good trading period can be extended and the risk of a self-inflicted drawdown can be reduced.
Often times, traders become overconfident during periods of good trading and become sloppy in execution. Oversizing and deviation from typical trade set-ups are common mistakes made when riding a winning streak.
The key is to press during winning streaks, but responsibly, and stick to what has worked to get you to that point of a winning run.
How a trader handles a good run is just as important as how one handles a bad one.
For details and tips, please see the video above…
---Written by Paul Robinson, Market Analyst
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