sorry, it looked random to me, i meant that there were many stop losses over the place.
rawrschach
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All you people making a fuss fail to realise that adding to a position within a range of prices where you want to be in a position is not the same as adding to a losing position hoping it'll come back.
I have no problem with averaging down if the risk is the same, ie half a position to start with, half a position later with relevant stop.
However, for this to wrok you also have to average up.
What many traders to is average down but they never average up. Meaning their winners win a half position and their losers lose a full position.
However, for this to wrok you also have to average up.
What many traders to is average down but they never average up. Meaning their winners win a half position and their losers lose a full position.
RockyRacoon
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Wow, there are some great replies on this thread but I think the above about says it all.
First off, seems to me that to enter a position then always place a stop loss at "X" pips away would mean a lot of stop outs for a loss.....................how many of us have been stopped out for a loss, only to have price go our way without us?
My guess is 100% of us.
Stop placement should be dependent on a number of different things like entry price. A fantastic entry should equate to a very tight stop and vise versa for a poor entry.
Trading range is another thing that should be factored into stop placement. IOW, if price typically trades in say a 20 pip range every 15 minutes, you can place a tighter stop than when the market gets volatile and trades 50 pips for the same period.
When it comes to scaling in, the above quote from rawrschach absolutely applies IMO.
Reading Trendie's post has confirmed my belief that trying to make the best of a losing trade is mentally debilitating. To me, at any rate. I'm better out of it and the sooner that it is done, the sooner I can get back in, hopefully at a better price.
Is there anything, in the KISS scheme of things, simpler than in and out (like a dose of salts).
Is there anything, in the KISS scheme of things, simpler than in and out (like a dose of salts).
montmorencyt2w
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" i meant"
So Chartsy=FXTrend240?
???
FXTrend240 was boasting a while back about having multiple ids under the noses of the mods. Sorry to derail an otherwise good thread, but I can't stand that kind of thing.
FXTrend240
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yeh there's two accounts on my c, when ones not logged on i go to the other one with this one on it as it loads up far quicker, alas , as i in high probability will be banned
That kind of posting might be innocent but it is deceit and is what has got David Laws into trouble.
montmorencyt2w
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I sincerely hope so. Nothing personal, but you aren't playing the game.
You are playing your own game, whatever it is, and whatever it is doesn't interest me.
interesting averaging down thread, however why nobody factor in other important factor such as time, important news,important days/week/month and time left. why everybody just talking about price alone ????
im still talking about day trading no swing.
im still talking about day trading no swing.
I think that they probably do. If anyone wants to add to a loss, in the belief that the price will reverse, they must have a good reason for doing so. That means researching outside of what the chart says. What I fail to understand is not that they may be right, but why take the risk? Why not close the loss and enter later?
Anyway, everyone to his own point of view!
Anyway, everyone to his own point of view!
meanreversion
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Er, you can only make money if you have inside information?
montmorencyt2w
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Because "everything you need to know is all figured out by the market and reflected in the price". Everyone knows that don't they?
More seriously, impact of "news", data, etc, can sometimes take a while to work through, and sometimes the market seems to change its mind about it as well. We have seen this many times in the unfolding Eurozone saga.
WTF is that all about?...have you been drinking?
about averaging down.
when u avg down, u have to look at everything else and i refer that information that I just posted.
sorry if u dont understand
when u avg down, u have to look at everything else and i refer that information that I just posted.
sorry if u dont understand
What is everything else?
