Dear all,
As I have shared with Jim @Jrinne earlier, this trading rule has helped me decrease drawdowns especially on days like today.
Basically I set a Sell Stop Limit order just above the purchase price after the stock price has risen by more than 1% above the position opening price. (before the next daily rebalancing).
Here is the link to the rule. Pls check it out.
Regards
James
https://www.bettertrader.co.uk/blog/2012/05/dont-let-a-profit-turn-into-a-loss.html