patricio who's holding a loser? i stated averaging off an initial entry and having the same 2 pt stop most people have . my whole idea is to have a better price than someone buying all at once. for instance if you buy at 1132 and my avg buy is 1131 we both still have 2 pt stops. i agree averaging down in general is wrong and disastours. yes romiks averages are different than what i do. he averages down sometimes when he downs 3 or 4 pts on the initial trade. i'd never do that day trading.again we'll knwo what worked or didn't. we'll see who's still on et 5 years from now and trading full time
Yes, thats true, we shall see who is around in 5 years. I have been trading for a living since 1998 and have seen most come and go.
And I've been at it since Feb 06! I don't know what you've been trading for 8 years and not being able to understand simple mechanics of various trading methods.
You are such a newbie Pat, you've made a non-intellectual comment and now that you can not defend it you start posting childish posts, what does that post mean?
You are saying I don't understand simple trading mechanics? I think you are a little off the mark there! Thats all I trade, simple methods, if I am wrong I admit it and get out. You are so clever that you know the trade is going against you, so you put on a small position so you can add to it when it gets close to your wide stop, it is normally 2.25 right? That trading method IS a little complicated for me if thats what you are getting at. Its obvious to me that unless one agrees with you 100% you will continue this tirade ad infinitum arguing how your trade is justified as being acceptable as a trading method. Ok, if you can make it work on a profitable consistent basis, go ahead. I won't be cheering you on and I also don't think you can sell the idea.
He has done really well. He use to trade soybeans in the 80's and lost the profits for the year in one week $850k and it wasn't December. The reason he lost that trade on soybeans was it rained and it wasn't suppose to or something like that. After that trade he wanted to trade something where he had a little more control and not the weather. Dean
I just got a PM and awaiting approval to post on this thread. I did not see a single post so far supporting your claim regarding averaging down. I always accept failure, it's my money and I make my own mistakes, I do listen to solid advice, yours just wasn't one of them. This is not a tirade, you have put your lack of seeing things from various perspectives on display here. At least we all know now that you think averaging down is BAD (for the majority). Nice one! P.S. I do have a valid reason to be long, do you have a valid reason to dispute my reason/s?
This is a copy of a PM I have received regarding this debate, I am keeping the sender's Nik anonymous as I do not know whether he wishes for his view to be public. This PM concerns people that do not wish to open their mind to other possibilities. For the record I will state that I am still primarily a scalper, but I do have great interest in other trading activities, especially longer TF based trading. Anyway, here it is: - "Let it be...Let it be...Let it be... Hey romik, It' been a while since I've read your posts when you were trying to learn the candle sticks from Nihabashi. I see that you've come a long way since then, good job Don't waste your time and energy trying to convince them guys what you're doing is not averaging losers, but rather adding positions to a trade in progress. A trade that has not yet met your predetermined point of failure, or stop loss. Most of them guys that are arguing are pure scalpers, and most of them don't even know what a stop loss target is other than to say that, if it's down 1-2 points they're out. Having been a swing trader, pattern, trendline, divergence and tape reader, I think I understand where you're coming from when it comes to stop loss targets. It might be true for the equities, but anyone who's traded, and/or familiar with e-minis should never say that once you're in a valid trade, it would take off right away. E-minis usually tend to retest the same price line several times before taking off in any definable direction (maybe not true for the ER2), but everytime it does that I'd consider that as an opportunity to load more positions. And I do not think there's anything wrong with it, as long as one does not let the emotions take over and ignore the predetermined stop loss target. So again, very few traders know at which point their trade is considered failed and plan in advance their stop loss targets, and it is fair game until failed, but the majority, usually the scalper types just take the easy "1-2 points down and I'm out" method. Sorry about the long winded message, I just wanted to let you know that there are traders who follow and understand your methodology. Good luck tomorrow, and happy trading"