When you place a trade, it is always important to have an exit strategy in place. Whether you are managing a winner or looking to close a position that has gone against you, having a mechanical exit strategy can help you to avoid a large, detrimental drawdowns.
Today, Tom Sosnoff and Tony Battista discuss some of the different reasons that we would look to exit a position. The guys talk about managing a winner as well as when you should close a position that has gone against you. The guys also look at when it makes sense to roll a position instead of simply closing it!