I know, it's just me, but I can not understand why people are so reluctant to take small losses (and possibly get on the right side) when things don't move as initially expected. On the bright side, it's only 1:30pm est: preceding a 3 day weekend! Happy 4th!!
@baron193 Would you have taken the same trade...? Not necessarily in the same way, but do you believe that the ES is bound for a drop next week?
I have taken plenty of trades that i let run into loss and have "rescued", sometimes over few days but not at perceived tops or bottoms...and the ones i eventually lost on were only because i ran out of patience.I don't know what the ES will do.
And what point do you think he was trying to prove then? Note that I didn't explicitly state it, although it does seem clear to me.
It's not just you... I prefer to add to a winner instead, i.e., adding more units as price moves in my favour. But I can average in as well if I have an expectation of price bottoming out or topping out within a zone of say 5-15 points on ES and I'm a tad too early on my first entry (which always is on smaller size).