@BennettN I think there is a difference between letting a loser run way too long and a poor exit.  Going back to the example – if you got in at $50 with 500 shares and did not exit at the breach of $49 or $48, and then held it overnight and the market thesis changed, but you still held, and wound up exiting at $44 three days later with a $6 loss.  That is one example.  Entering at $50 and exiting at $48.50 three hours later is another. 

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