Scaling Out: The Best Way to Secure Profits in Trading

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📈 Mastering the Art of Taking Profits: Insights from Phil Goedeker

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Welcome to ComLucro! In today’s video, we’ll break down Phil Goedeker’s powerful advice on taking profits in trading. Discover why scaling out of positions and locking in gains is crucial for successful trading. Goedeker shares his method of gradually exiting trades as they approach his targets, ensuring consistent results and mitigating risks. Learn how to apply this strategy to your own trading and avoid the pitfalls of chasing the “exact top or bottom.”

👉 Key Takeaways:

The importance of scaling out of winning trades.
Practical examples of managing large positions.
Why locking in profits secures long-term success.
Avoiding stubbornness in pursuit of perfection in trading.
Let’s dive into these lessons to enhance your trading performance!

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Legenda:

00:00:00,160 --> 00:00:03,480
take profits on winning trades you know

00:00:02,120 --> 00:00:05,520
I always scale a out of positions let's

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say I'm short 50,000 shares of a

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position and it's reached maybe 70% of

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my target like to take at least a third

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off right there always locks them in

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Falls another 10 15 20 cents take

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another 10 15,000 shares off whatever it

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is don't ever try to be so stubborn to

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try to pick the exact tops or bottoms

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