1stly just stop 'gambling', and start trading. Why would you make a trade at 100 unless you were extremely certain that it wuld be profitable?? But if you are then start at 2x value per pip. And stop calling trades 'winners' and 'losers'. profitable trades should just be standard normal trades, trades that you close for a loss are the 1s where you then need to look and wrkout why you had a losing trade.
If you subscribe to the notion that most under capitalized futures traders ultimately blow out by attrition then the pursuit of outlier winning trades is a logical goal. Trend followers do not CARE about pissing away a penny-ante profit. Those small gains will only be given back on the next horseshit trade anyways. I suggest you read Reminiscences, the Rich Dennis interview in Market Wizards and Way of the Turtle by Curtis Faith.
Obviously you shouldn't enter unless you know it's gonna be profitable. But averaging up, as I explained above, can stop you out of what would be a winning trade with a loss.
Adding to a winning position but buying at technically higher prices is definitely a specialist strategy but is for long term positions so a stop would be placed well below 102 in this instance.No-one who adds to winning positions would have a stop this close.On the upside you wouldn't try and sell them at,say,107 either,more like 150 and higher but you need a stop far enough away that a minor price correction will not make you exit the trade. It is a strange approach,but like you say,if it's on it's way to 200 and you can buy at 100,most people only want to buy more if they can buy cheaper but if your 'in' trade happens to buy the low and you genuinely have 200 as a target then why not keep adding on the way up?
You might benefit from a slightly different mindset. Don't worry about what you paid for something. If it's 105 and you think it's going higher then it doesn't matter that you paid 100 for it the first time. Buy more at 105! If its 90 and you think it's going lower, then sell it at 90! Doesn't matter that you paid 100 for it. IT'S IN THE PAST! THE PAST DOESN'T MATTER ANYMORE. FOCUS ON THE FUTURE!
Exactly. Forget the previous last trade @100, your profit/loss is determined by the last trade @105. In other words, you should remember that your last price bought was @105, not @100 nor @102.50.
Move your stop to 102.50 when you add, and now you no longer play with your own money, you are risking the house to make more.