Trade Trends or trade Ranges?

-What do u succeed at more ,trading Ranges or trading Trends?
-Do u double up on a bad trade, at what price distance do u get out when ur wrong?
-If you trade trends do u like to get in after a trend stops and is reversing,
or before a trend starts.?

I am new.To my newbie knowledge,there is only three ways to trade.
1-trade ranges (in and out)
2-trade trends-get in during first trend move
3-trade trends-get in after a trend and its reversing direction(less risk?)

I have a hard time with Trends.Have always done ranges.In and out quick .20,
not long before I have a $1.00 and at 1,000 shares.thats decent money in one day
just clicking a mouse.If Im doing more poorly lower my shares to 300.
My dillema is when im just in for that tini a huge trend emerges against my trade.
I was in for a small .20 and now it quickly shot against me .60.
I then double up and get in again against the trend thinking it will come back.
And it sometimes does.But when it doesnt it hurts bad with large losses.
I have often doubled up on a bad trade up to 6 times .Stock doesnt come
back in for a few days and i cant trade ,holding these positions and finaly
getting out when stock does come back in.

Averaging down is a bad strategy for newbies. You need to just accept that you are wrong when it approaches your stop loss.

Thanks for replying,
So doubling up on bad trade is no good.
I know everyone trades differently but at what price do u personally set ur stop loss
at.Because as we all know a stock often comes back in to where it was.and now you
took this loss with a stop loss,if you would of held ur trade would still be good

Ryan, stop hoping or you will blow up your account. Amid you are wrong on a bad trade and accept the small loss rather than praying hoping and then finally get out with a bigger loss... Even after you get out at the stop loss & the stock goes back to your original direction, just forget it and go find a new opportunity.

I must agree with the other posters so far. Recognise when the trade is wrong based on predefined criteria you have set. If it goes wrong then get out with minimal loss.

This way you not only minimse your loss, but you also release your cash for a new better opportunity and trade.

This has added psychological benefits because when you remain in a losing trade or try to average down it will do your head in - you won't think straight and unemotionally because you are out to get your revenge on the stock.

It will also perpetuate any mistakes you are making in your entries, because you are not facing up to the reality of the market. This is because you are replacing unemotional technically based analysis with the emotion of hope, which has no basis in fact.

Whilst in the short run you might be lucky and get away with it, ultimately it is bad for you development as a consistently successful trader

Charlton

Man,thats exactly what I do ,I want revenge on the stock with alot of emotion as well.

Thanks again i have alot of learning to do.To help give me a small glimpse of how successful traders trade, can i ask how often do u guys get in a trade per day.
And how much do u make per trade.Not how much money but how much do you get from the stock like 1.00 per trade or less.
Charlton thanks again u made many good points.

You're going to get a lot of different answers to that, because there are a lot of different styles of trading. But I think you should focus on making sure that the point at which you take profits is larger than your stop-loss point. Some people might take profits at twice their stop-loss distance, or three times etc.

Remember, if your profit taking point is twice the distance of your stop-loss, then you only have to be correct 40% of the time and you'll make a profit.

You need to test for your own setup how many pips you need for your trade to be wrong.