Mando says 90% of traders are good at finding entries but struggle to exit their positions, explaining why having a clear exit rule is incredibly important
“I think again, a lot of people get good at getting into trades, they're very bad at getting out of them”
“I would say that's 90% of traders, like genuinely. Often people are very good identifying a move and then they have no rule for getting out”
“The rule for getting out is some form of like, ‘I'll just cut it.’ And often that's like when they're down from all-time high by X amount, or like they're at a loss”
“So having a rule for getting out, I think, is like incredibly important”