No worries Mac, we all have to start somewhere and even most of the best traders will testify that sometimes it can take years to reach the nirvana of consistent profitability. I find these boards useful because I'm challenged to examine my own thought processes and I get value from that. I think the key is to take pleasure from the whole process of trading, analysis and decision making. There are too many who just think about the money and don't enjoy the actual process of trading.
Please refrain from posting personal information about anyone:eek: If you do not like JH, then fine, but as I keep saying, most people here are adults and can make their own minds up, and do not need any idiots on a website to tell them the difference between right and wrong. If someone is stupid enough to give their money to another person, in exchange for information relating to trading, then, such people deserve exactly what they get, for, it should be obvious to anyone with half a brain that there are NO EXPERTS in the trading game, except for The Expert, of course, but as The Expert never charges any money for sharing information, no one ever has to worry about being ripped off by The Expert
TE, What do you think about adding to a position as it goes in your favor in regards to daytrading? Not all of the trades will have the same odds starting off, so do you think it's better to go all in, or to take a smaller position in some cases and add to it?
there's nothing wrong with it, personally I prefer to go all in and reduce risk as I scale out, actually I don't like risk, so unless there are no potential obstacles to the move (as I perceive it using TA) I'll often take 50% off at 1:1 ratio to reduce risk to zero. But that's just me, it's a matter of personal preference and risk tolerance. I know it's a cliche but profitability is a matter of not losing money, or at least losing SMALL, but I guess with scaling in you're locking in paper profit as you go anyway. Some major price action on UK banks this morning. FTSE is over 3% up, it was all doom & gloom on Friday, supports the contrarian case...