Remember, when taking positions, we know there's only three things a stock can do:
Go in the direction we want it to -- here we lock in profits when a stock meets resistance if its a long trade and when it finds support if its a short-sell.
Go in the opposite direction we want it to -- here we honor our stop loss if it is hit. If not, we stay in the trade until we get our profit or are stopped out.
Go nowhere -- here we say, well the set-up was good, our
entry was on, but the stock didn't follow through so after giving it
some time we walk away to free up capital to pursue other timely
opportunities.
