businessJun 18, 20208:30pending
Offset your losing trades despite your can't-go-wrong theory
About this episode
Alan "Ace" Greenberg had a great rule that he mandated on the Bear Stearns trading floor: "If the name is down coming into Friday's close, it trades."
He didn't wait for stops to be hit.
If the prop trader was long and there was an unrealized loss, they sold it before the close on Friday.
This simple, but brilliant rule is one that you might want to employ.
By selling your losers and going flat, you have a clear head that night and the rest of the weekend.
Life is good.
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