Yeah, Karl, even though I defended a strategy such as the one you describe under the proper circumstances, I have to say that you coming on here seeming to look for assurance in your trade means you're over your head. Then again, I may be wrong.
Maybe buy some puts to protect yourself/hedge, if you haven't done so already. I am sure the experts at ET can be more specific.
watch rogue trader,, your the guy ,, screaming spending about 60 more million dollars,, trying to keep the nikkie above 1800 so your options will still be good,, put on your gloves,, fight the market,, better yet,, put on your knee pads,, cause youll be blowing somone for a second chance when your done,, but good luck anyhow,, im just as stupid,, but now that i see the hole your in,, i just might join in the same,, but at a much better price,, see ya at the bottom,
i'm not looking for assurace - i love ET because I can discuss something i found i really enjoy - trading. i always love getting other perspectives and opinions on things - i eat them up. that's why i am here. that, and the occasional pissing-match with the top and bottom callers in the trading forum....
my plan is to not avg down until the charts show me some confirmation. if NG is at 2, hopefully that's when I will be executing my next avg-down.... another thing that I have tought myself is that if i make a bad decision - the time I have to carry the trade is my punishment. the market and trends will _always_ change. NG will see 7 again - it's just a matter of when. another rule i trade by - don't give money to the market. for me, the only way i can do that is to spread and weight my entries so that i always have an exit. I'm still learning how the best way to implement this....
kk, this type of trade i do all the time ... i always buy the fear and sell the greed ... been my style of trading since 1998 and i have never deviated from it ... however.... if i am scaling (averaging) into a position while it is still going against me .. i make sure i have plenty of ammunition left in the account so i am able to bring my price down. the times i have lost big ..is when i was a bit too early and ran out of capital .... i have been flipping QM (long ) trying to find a bottom but i feel there is still more selling to be had ... i think some big hedgies are in some deep doo doo and they are being forced to liquidate.. i thoughts are energy (QM, NG) will bounce, and bounce big .. but ..from where ?? --m