Adding new positions when daytrading

[Joe Ross]

Day traders should learn to press the market and add con¬tracts at crucial trend confirmation intraday prices, moving all protective stops to break even with additional contracts. When a bull market makes new half day highs, instead of trading a one price unit size, trade two or more price units with a tighter stop. Either the market profitably explodes, or the trade is exited immediately. When building bullish trading positions, move protective loss stops to break even as new positions are added. The location ideal for the protective stops are below a previous reaction low, a trend line, or psychological resistance price. And keep on mind that you are not adding to an existing position. You have it correct when you say adding “new” positions. They are new positions and must be managed as such, all the while remembering that each “new” position is put on that much closer to the end of the move and therefore carries increased risk.

 

[pboyles]

Not again, give us a break.

 

[JRP2891]

Exactly. Joe Ross is a bad egg.

 

[sighthound]

Is this the right time to be bullish???T

 

[safvan]

Why does everyone dislike Joe Ross? Is he not a good trader or trade actual money? I have seen his name a few times on the internet.

 

[Mr. Charts]

Adding new positions when daytrading.....is like having a second helping of fish fingers.

 

[new_trader]

I use this guide when adding new positions when daytrading

http://www.kamasutra-sex.org/kama-sutra-positions/index.html

(No disrespect to you Joe Ross proxy, I actually like reading the things you post, but I just wanted to act cool and join in the fun)

 

[neil]

Why does everyone dislike Joe Ross? Is he not a good trader or trade actual money? I have seen his name a few times on the internet.

His is a well established marketing approach; to fish for the "curious" among people like safvan. His posting is not designed to improve your trading; such improvement requires you to go to his website and purchase one of many "goodies" that you think will transform you from a hopeful neophyte into a financial wizard.

But Joe is like that: he wants you all to succeed and splashes his advertising over a broad range of publications. That is why he is too busy to ever reply to the many comments/queries posted on this and other internet forums. Picture him hunched over the keyboard, the yellow flame of the candle flickering, during the many winter evenings, casting its pale light over the half finished cup of coffee resting beside the now cold slice of half eaten toast; uncashed cheques from future Livermores scattered across the wax spattered wooden desk.

Yep- like all evangelists before him, Joe works tirelessly at spreading his word and growing his flock, of ever hopeful,sheep. He doesn't seek riches...........hang on-hang on.....I must stop staring out of the window whilst typing

 

[safvan]

lol boy this guy is really hated here...ah well.