Good Evening Handle123, Whiling using risk greater than reward, scalping, what do you do when you encounter 2-3 losses in a row? Thank you,
Your scalping 500k + per month, and 3 consecutive losses wipe's out 2 months of profits?? You either have 1) and absurdly high hit rate 2) Horrific risk management 3) a very vivid imagination
brackets i wait for my target to get hit but i don't take the trade then as it moves away from my target i start light with a few, i have tight pt bracket and HUGE stop bracket. i almost always win and when i don't, i flip long before the stop and add on like a mofo on fire till i win. guess i power it into a win. try as i may it's not been easy to automate this action. but i have fun doing it while other positions are working out. it's like et a filler of time and entertaining.
There are 2 ways to day trade and make money 1) High win rate (80-95%) - Average down, small TP and huge SL 2) Low win rate (25-40%) No average down, small SL and huge TP
Hello tony.m, What about this one? 3) High win rate (80-95%) - small TP and huge SL. NO average down.
Revenge trading is a product of an emotional reaction to the market taking $$ from a trader. A well thought out strategy to recover a loss is not revenge trading. I hate losing like anyone else (well there seems to be some who embrace losing as a worthy tactic lol) but sometimes losing is a necessary tactic to keep from losing even more so I take losses too but I develop techniques to mitigate those losses and as a daytrader/scalper I desire to get the losses back quickly. Perhaps Handle has develop his own technique to get back losses.