Re: Averaging Down for the win??
Two things: isn't that the exact opposite of what we actually want as traders? Full size on winners and less on losers (just in an ideal world scenario).
Also, you're pretty adverse to a stop, but not knowing what type of trading you do (assuming directional) isn't a stop in the most basic of senses just a point where the market has given you confirmation you're original trade idea was wrong, so why not choose levels rather than x ticks out of curiosity?
Have also toyed a few times with placing a double 'stop' one to stop out and one to enter when taking counter trend trades at very touch n go points where I am pretty certain alot of stops will be placed and has worked the couple times for a scalp when I've done it...but I guess that just means my original trade was **** cause my 'stop' was with all the retail stops.
Also, I'm in the same boat as Kid being new to the game, but my experience has been that i've put on trades and been stopped out to the tick where the trade idea was good and others where it was just plain wrong: both scenarios are very good learning outcomes for a newbie cause you get feedback on whether you entered too soon too late, or whether your trade idea was just rubbish and don't do that again. But without stop, the feedback as a newcomer would honestly just be hope in all situations which is :bad:
That's where I'm at now, I find it harder to pyramid in than to average down meaning i have larger size on some of my worst trades and less size on my best ones.
I do however exit positions at loss if i think they won't come back, i don't try and turn every losing trade into a scratch.
I just try and do it on a bounce in my favour rather than just stop out at x ticks. The only time I hit a stop loss is my daily stop, or before a pre determined level where i think it could run as it is goes through, or before a news release
Two things: isn't that the exact opposite of what we actually want as traders? Full size on winners and less on losers (just in an ideal world scenario).
Also, you're pretty adverse to a stop, but not knowing what type of trading you do (assuming directional) isn't a stop in the most basic of senses just a point where the market has given you confirmation you're original trade idea was wrong, so why not choose levels rather than x ticks out of curiosity?
Have also toyed a few times with placing a double 'stop' one to stop out and one to enter when taking counter trend trades at very touch n go points where I am pretty certain alot of stops will be placed and has worked the couple times for a scalp when I've done it...but I guess that just means my original trade was **** cause my 'stop' was with all the retail stops.
Also, I'm in the same boat as Kid being new to the game, but my experience has been that i've put on trades and been stopped out to the tick where the trade idea was good and others where it was just plain wrong: both scenarios are very good learning outcomes for a newbie cause you get feedback on whether you entered too soon too late, or whether your trade idea was just rubbish and don't do that again. But without stop, the feedback as a newcomer would honestly just be hope in all situations which is :bad: