Thanks for the advice on reducing position size. At one point I was adding to my position as the trend went on. In effect, I was increasing my risk. I had the opportunity to talk to a very well respected trader once and he told me to take the opposite approach. In other words, start out large and decrease your position as the trend moves on in order to lock in your profits and decrease your risk. Is this what you meant? -Hoo_doo
Very nice. How do you tell (in time) when a market switches into sideways-mode and switches out of it. If you can teach us that, we'll take care of the rest by ourselves.
hoo doo one.. Thanks for your work. I like the style and vibrations of your attempt to post here in this forum. Please hold on to your research and continue. You are very special. You have saved a lot of people a lot of time.... Thank you again and good trading and research to you my fellow trader.... Michael B.
Well put. I don't mind the "wrong once at the top" (or bottom) situation so much. My biggest issue has been related to how fast I'm able to realize the market is moving sideways. Those are the situations where I tend to get beat up a little. I'll figure it out one of these days I suppose. -Hoo_doo
mondays and fridays are typically sideways...keep in mind that and trade the ranges if u can't stay on the sidelines... track these 2days movements and compare the premkt and openin' ranges to all the other days to see if u can detect similar patterns...this way u might be able to see a rangebound session comin'.