Trades fail all the time, Do you know when to jump ship?

Even the best looking set up fails, and Kate was a prime example, after it broke out and failed the following day, we were out for a small loss ($.50 per 100 shares). Currently Kate is $4 lower, risk management is key. This trade failed, the stock showed us it wasn't ready and we lost $50 per 100 shares, without a plan, a new trader might still be in this stock, praying and hoping for it to bounce back and would be sitting on a $400 loss per 100 shares.

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