Not me. I’m not a loser. I average down by scaling into losing positions quite often as a trading tactic in certain situations.
I would say the No 1 secret of success in trading...for most traders...is to realize you're dumb, or don't know nothing about the market or its future. Way too many people just humbley, naively, enter this fun casino...and when they lose, they wonder and wonder why God hates them. Take this as divine, constructive criticism. -- To truly think about the collective market...and all its dynamic and fixed variable elements constantly in play. And where, and how, you fit in into all of this, Some people have egos, that makes them a slightly larger puzzle piece. While some other people have insecurities and other weaknesses...that makes them a smaller puzzle piece. Where you want to be...is the same puzzle piece size as all the others. If you can solve this somewhat, rare puzzle...you will be a millionaire in the market , In conclusion, watch this trading video documentary: ...in it, you'll find the Holy Grail cave...Open Sesame,
i have been doing it for about 6 months...averaging about 60+ trades/months. is that consistent enough for you?
for beginner, average down is a bad idea. but once you master trading...there is another rule from me...you can do whatever the hell you want...
Sooo.... This is what you said last week on Mar 6, 2018 at 9:08 PM...Care to explain? The "secret" to trading really is to make trading easy for you as much as possible! Hehe...
What makes you think I said you can't read a chart? Did I say that you can't? And I and many still put in long hours of doing what we love to do, I have 14 systems on automation which allows me to do 14-16 hours a day of system design for starting new business at end of the year. We all have places we want to go in life.
Something that is very dangerous for a trader is arrogance and a huge ego. You confuse being profitable with making big money. He maybe makes now 10 times more than you do. In that case you can still learn a LOT. You say you have average 70% winning trades. friday you had 87.5% winning trades. If we reduce that to 70% your profits will be around $440 instead of $550. That would be around 3 trades a day, but friday it was 7...
Note. He's 47 and he works in IT. Full moon was 10 days ago. 3rd Quarter moon phase was 2 days ago. Maybe Astrology really does work!!
Yup. I have been do more swing trade then day trade in the beginning. But recently have doing more day trade since that fit my style.