mauled Averaging a loser over a 10 point move and puking at the bottom for 6 point loss, then chasing and taking double the previous position right before a 6 point squeeze occurs. But if this type of trading works for you, go with it.
And to clear the air, I am not hating on Romik at all. Just pointing out the downfalls to averaging as back to the original debate. I had 3 losing trades today, all from the long side. As of right now everyone of them would be a winner if i did not stop out and kept averaging. Today I would have came out great by averaging but what about days where we just grind one way or when you have the wrong trade on from the start and reverse once the move is over.
I had a good short today, which has put in the black (even after the long was closed. In the red right now, but I am not too concerned about the unrealised loss. This is a typical scenario, when you get winner after winner a poster will get words of praise and when there are losses, even unrealised ones, the bashers are out. Do I care? I do not give a flying Big F about the bashers. I hope that clarifies things. Vol, you were right today, but I would like to see consistency in calling reversals during other trend days, when the idea that covering should start any time is thrown back at you with continuation of the initial move. So, remain humble my good man would be my recommendation. No point starting a cock fight. I remember there was a thread (removed later for ET etiquette reasons I suppose) where another poster posted your calls on ET, some of them were abandoned or am I mistaken?
LOL...I told everyone on there ahead of time. I am a Texas boy and I do have an accent. I sound like a total dork on there. Now after listening to that would you really want me diagnosing your brain disorder?
After hearing my voice I can't say that I would blame anybody. On a good note, my accent is mild compared to the rest of my family...LOL
Your style works on trend days much like gary's but on chop it does not work very well. My way is the opposite, I usually get killed on a trend day unless it agrees with my predefined bias. My definition of killed is -2 points for the day. Obviously you have a higher pain tolerance than me.