The Importance Of Scratching Trades
“Scratching a trade means breaking even (plus or minus a tick) because the trade is no longer moving in your favor. The ability to scratch trades is one of the major differences between successful traders and everyone else. Most people can’t stomach the thought of not making money on a trade and therefore allow break-even trades to turn into losers.Not every trade works out; how you handle these trades will determine your long-term success as a trader.
–from Hit and Run Trading II (1998, M. Gordon Publishing Group, Los Angeles), by Jeff Cooper.