Map of Atherton on This is especially true when you have profits in a trade, but the profits are not as great as you had hoped. When selling starts, your insurance policy against a fast and continual retreat down is your sell. When the trade dips down and starts back up to a higher price (stair-stepping), 20/20 hindsight always seduces you to hold the next trade and not take early profits. Only hold through stair-stepping if you know that a high percentage of the time, the type of momentum trade you are in usually stair-steps in your favor.
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I cannot emphasize enough, selling the trade is your insurance policy (see Figure 12-1). Notice that USCS made three bottoms, the first at 24, the second at 20. 25, and the third at 18. Map of Atherton 2016.