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What does set-and-forget mean?

Looking for the meaning or definition of the word set-and-forget? Here's what it means.

Adjective
  1. Of a device setting, a strategy, etc.: configured a certain way and then left without further attention.
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Examples
The set-and-forget trader is playing fundamental direction and is seeking very large moves of 150 to 300 pips.
On such excursions, the chilled can holders will prove a literally refreshing idea, as will the electronic set-and-forget climate control.

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