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The 70% Rule That Just Saved Me From Thanksgiving Regret

By Brandon Chapman, CMT

I closed a trade at 62% profit yesterday when my target was 70%.

Some traders would call that weak. I call it the smartest decision I made all week.

Here's why: Oil bounced this morning. 

That extra 8% I was chasing? It evaporated. 

The trade that was printing money would've kept me up all night worrying about what crude might do while I'm carving turkey.

I don’t cut every trade early. 

But here’s why it made sense this time.