Free Trades – The Powerful Secret the Guys on Wall

Guest post by Jason Madison of  beatwallstreetnow.com

There are no sure things in the world of day trading but there is one technique that comes pretty close. This technique is known as a free trade.

Basically a free trade is when you open a trade and then wait for it to get to a certain amount of profit, and then you close out half of the position to lock in those gains. Next you would move your stop to break even and let the rest of the position run.

What this does is create a situation where you can’t lose because you have already banked profits and even if the market turns and moves completely against you there will be no loss because your stop will get you out exactly where got in.

This is the secret to profitable trading because no matter how great your system is if you don’t take profit and let your winners turn into loser you will never get anywhere. One of the biggest issues facing new traders is taking profit. This is because when they are in profit they don’t close out the position because they feel like they are going to miss out on more gains so they hold to their position.

And then what happens?

They are forced to sit and watch as the market turns against them wiping out all of their gains. Free trades eliminate this because they allow you to take profit and have guaranteed money in the bank, while also keeping half of the position open and allowing you to profit from any further moves.

While in a free trade one of two things will happen. Either the market is going to continue to move in your direction and make you a huge profit or it’s going to turn around and stop you out at break even. Either way it doesn’t matter because you’ll already have money in the bank.

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