Advise me on my Position Trade? EURCAD

[Jason101]

I don't understand ? am i mavvy ?

Just seen this post, sorry Mmm but it did make me laugh.
No Moneymakingmachine, your not.

 

[arabianights]

Thank you,

I am not sure if this is what you are getting at, but this is beginning to start the thought processes off for me.

I think you are not just talking about scaling in and out of a trade but something more profound.

Risk reward is a constant and on going assessment it is not a black and white yes or no question (in the same way it is tempting to look at an individual trade) but it has various degrees.

So if an open trade has on going various degrees of risk reward I should be making sure I am the position to reflect this with trade size and start to seriously see myself as managing money rather than individual trades.
Jason

Yup, precisely.

I'm too ill to go to work atm (decided to go cold turkey on opiates, was intending to do it this weekend but got too many engagements... it's not that bad but the trainspotting cliche of ****ting n puking constantly is not far off the mark... in any case they should still be legal...) but for example on Wednesday I sold 50 lots at 89 a few minutes after the opening... I decide that the market still has a bullish order in it, so I close out 20 lots at 90 to reduce my risk as I see where it goes... it doesn't seem that aggressive so I'm happy to sell another 50 lots at 91. Out of the entire bunch at 89, and it's a reasonably alright profit it the end. Rinse and repeat a few times and you're doing ok

Do that all the time unthinkingly and of course you're carried out. But in terms of adding liquidity, *sensible* risk management + averaging is all you need to do... if you have a decent sense of what the market is doing you're 80% there... but to get the final 20% you absolutely have to size with relation to your trade. And monitor that constantly. No one will ever be as good a risk manager as yourself.