An Early Exit Strategy

It’s February, and that means it’s about the time you’re wishing winter would finally end! We just got a fresh new heap of snow on our lawn, and walking outside I couldn’t resist one teensy tiny snowball at my sister. Big mistake. You should not start a snowball fight, one that you intended to win at least, without first either

  1. building a snow fort
  2. planning an escape strategy

-or-

    3. making sure the most direct path indoors is clear*

It’s snowball prep 101 to have an exit strategy, especially if you’re going to be outnumbered. Even Buddy the Elf, with his north pole experience and skill, only engaged in a snowball fight without adequate protection after being ambushed by a set of amateurs.**

buddy-the-elf-snowballs-1024x555

With that being said, you wouldn’t enter any situation without a good exit strategy (can you sense where I’m going here?). Coerced into lunch with your mom’s book club? Set your dentist appointment for a half hour later. Blind date later tonight? Your best friend is scheduled to call at 9:00. We may make light of these situations, but when you find yourself in them you’ll have wished you made a plan.

On a more serious note, the consequences of not having an exit strategy can be more severe when you’re trading. It always pays off to take the time to know your exit strategy; Benjamin Franklin knew his stuff when he said, “an ounce of prevention is worth a pound of cure.” Set up your exit strategy early, and then enjoy the snowball fight…or, er…trade 😉

Happy Trading!

*I feel like I have the responsibility to mention that this is the coward’s path, and is not recommended if you wish you escape, albeit with a few battle scars, with dignity.

**Honestly, why would you throw a snowball at somebody who is clearly skilled in all aspects of winter.

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