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Yes, the most important ingredient is definitely missing. The most I will tell you is I will only begin using this method after and extreme price movement that can be measured using statistical methods. It's a mean reversion technique but as we all know, the market can stay extreme for an...

Of course I track them. My win rate on the DD is nearly 100% this year. I have 1 loss and it was a BIG one but the money I made prior to that and after the fact has easily exceeded the day I got butchered.

I don't do this in continuation patterns. I do it at reversal areas after a large decline or rise. Today's premarket drop was a perfect example. DD on something like a support break or a resistance break would be pure stupidity. I don't trade breakouts -- ever! That's the absolute worst...

By the way, I think you will blow up big time after a while ------>>>> I already have. I've taken more out of the market than I keep in my account so I could lose my entire account in a day and still be able to start over. Plus, my circuit breaker will cut me off provided I don't cut off the...

That's a very interesting thought because I do view my initial loss, or couple of losses as good things. The key is discipline. It's very tempting to take a trigger when it's "near" because I have my reserves to bail me out if/when I'm wrong but if I wander over to this side of the fence I'm...

I was a slightly better than break even trader. My batting average was about 65% but I couldn't seem to get my winners to be larger than my losers, even tho I used very strict risk management (this was way back in the beginning. I've since improved even w/o the DD). I developed the strategy...

I was pretty hesitant to post this strategy this evening because I knew I'd catch a lot of heat. I'm glad I did because it was a good discussion, even from the bashers. G'nite all, and may all your trades be good ones, even the DD's.

Ok, gotcha, I do that. I do average up, I don't average down. However, I will "build" a positon, which is averaging, in a sideways area when I sense a move coming but when I do I nibble on the dips, for example, and build my line over time. Again, timing the market is only a small piece of...

Totally agree HG. Per earlier post, I have a circuit breaker on my platform. When I'm down $X I get liquidated and shut down. I know this is risky stuff.

I have 5 screens and I trade the ES, NQ, and ER2. The "instant pat on the back?" It ain't about that, it's about finding an edge. An edge comes in many forms, just find it. BTW, I can't say enough good things about "Trading in the Zone," by Mark Douglas. Best trading book I ever read.

Absolutely agree. I have gotten stung and it will happen again. At some point you have to flip the switch. My platform comes with a circuit breaker. Once I'm down $X I'm liquidated and locked out until the next day. I know this is a high risk strategy but I'm fully aware of the risk, the...

That assumes you know ahead of time which trade will be the winner. You don't. If I knew that I would take my full line on the first trade all the time. This is all about probability. Certain setups have a higher probability than others so I go bigger on those ones.

That wouldn't work because how do you know what the triggers are? It isn't something as simple as take your loss and double at 2 points lower. It's about knowing how to read charts and not having perfect timing.

If this system is employed with zero skill then it is destined to lose. I have a lot of experience. I'm damn good at reading charts but my timing isn't perfect, no one's is. The market cannot be timed perfectly by anyone.

I know how to read charts but I don't have perfect timing. I don't think anyone does, do they? I don't lose on my first trade all the time. In fact, I have a pretty high batting average on my first trade. I take small losses and reload with a bigger gun on my next trigger. The recent...

I do use stops! I take my losses quickly and double my contracts on the next trade. It's very profitable crap, backed by verifiable records

LOL. I think my carpeting is growing again :eek:

I only use 2 accounts for this, not the 3rd but I could. The reason....let's say I lose on 1 contract, then 2, and win on 4. I could easily convert that 4 to an 8 lot and complete the task with 1 account but if I lose on that one then I have to go extremely deep to get it right. If I have a...

also, I only use this strategy in the AM, never in the PM. If it goes badly I have the entire day to fix it. If it goes badly in the PM time works against me. In the PM I go back to normal wins and losses, no DD at all!

You have to have a lot of experience doing this and you need a pretty sizable account, not to mention big balls. I've been trading for many years so I have a ton of experience. I would never recommend a rookie use this. There is never any gaurantee that any trade will work, be it the 5th...