Mechanical exit systems: stop giving profits back

14 May 2026

Why discretionary exits leak returns in gold, silver and copper equities, and how a pre-planned ATR-based target and stop removes the decision at the worst possible moment.

Most GSC investors do the research, catch the move, then hand a large share of it back. The failure is rarely the thesis. It is the exit.

An exit made in the moment is an exit made under maximum emotional load. Price is moving, the position is up, and every incentive says hold a little longer. A mechanical exit flips that: the decision is made at entry, when you are calm, using the asset's own volatility.

The Refinery approach uses the 14-period monthly ATR to set both the target and the stop before capital is committed. When price reaches the target, a fixed portion is liquidated and the stop moves to breakeven. The position becomes risk-removed: your initial capital is out, and what remains rides on the market's money.

No prediction. No news-watching. One rule, applied every time, so wins compound and losers stay small.