all in or average up (ie.buy more once initial position working and gone into profit)
all in or average up (ie.buy more once initial position working and gone into profit)
dc2000
Veteren member
- Messages
- 4,766
- Likes
- 129
for the market to reverse rapidly sending a large position negative
averaging as you call it does work what makes it the bad boy of trading is most do it wrong
feel free to prove me wrong
take a friday close then three day movement of a full weekly range in one direction average in anywhere on third day and tell me it doesnt get into profit within 4 more days
BeginnerJoe
Senior member
- Messages
- 3,329
- Likes
- 351
This thread has been going on for a while now. Has the money doubled yet ?
It doesn't go into profit within 4 more days. Do you have any stops at all? Can you explain a little bit more? The close on friday was 11532. Weekly ATR is roughly 600 points(Is this right?), so you buy at roughly 10932 on the third day.
dc2000
Veteren member
- Messages
- 4,766
- Likes
- 129
what Im saying is if a trade is taken and you average there has to be a high probability of it going into profit
I look at the bigger picture ie weekly and monthly prices when Im trading daily movements so on this trade it was taken when the market was below the weekly ATR from fridays close
on trading without stops, I dont use fixed stops but if a trade goes wrong I exit
I dont trade on margin normally, on an account this small I would trade $1pp but the minimum is $5 and its for fun
on a trending markets OTM puts or calls as a just in case senario in todays markets a strangle strat is called for
I look at the bigger picture ie weekly and monthly prices when Im trading daily movements so on this trade it was taken when the market was below the weekly ATR from fridays close
on trading without stops, I dont use fixed stops but if a trade goes wrong I exit
I dont trade on margin normally, on an account this small I would trade $1pp but the minimum is $5 and its for fun
on a trending markets OTM puts or calls as a just in case senario in todays markets a strangle strat is called for
dc2000
Veteren member
- Messages
- 4,766
- Likes
- 129
Yes
current state of play $17782.54 profit so £11.5k
with open trades on FTSE currently -£261.9
and DOW at -$1025.2
dc2000
Veteren member
- Messages
- 4,766
- Likes
- 129
doing a fair bit of traveling this week so thought I would post what Im looking for early first target for me is the 5180 then the 5304 it would be realy nice to gap to first level then go to 2nd late afternoon or early tuesday.
on the DOW I will be looking for 10991 and 11242
once each market is open limit orders will be placed
will try to post exits as they happen but may have problems with mobile broadband half way up a mountain
on the DOW I will be looking for 10991 and 11242
once each market is open limit orders will be placed
will try to post exits as they happen but may have problems with mobile broadband half way up a mountain
Pretty good levels there. You were pretty much bang on. I think your ftse level was just off by a couple of ticks, so i guess you have to watch it. Nice S and R there.
I still think there will be a strong down swing from here.
