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Will California Ever Thrive Again? Unlikely. The history of Leftism is a "one-way street... down." The longer it runs, the worse it gets.

Averaging into losers works until it doesn't... and then the result is dire. And usually once is all it takes. Just ask Victor Niederhoffer.

I wouldn't let him manage my mother's money.

I never heard either of those expressions. However if the market is going to take my money, it's going to be like being "nibbled to death by ducks".

There are 4 possibilities on a trade. 1. Small gain 2. Small loss 3. Big gain 4. Big loss The only one you can control is Big Loss... to be avoided at all costs.

That's part of the "art" in trading. By the time you "know for sure", the horse is already out of the barn.

Chasing "too late" is hazardous. Exactly when it's too late is hard to define. However, chasing late is chasing momentum. It had better continue or you've got yourself into a trap. I think the best time to chase is just after a break of support/resistance. Anything beyond that is up to the...

Successful trading in the markets is like counting cards in black jack. IOW... bide your time until you believe the odds favor your play, then get your money out.

There is a famous picture of Paul Tudor Jones sitting at his trading desk with a sign on the wall over his shoulder... "Losers average into losers". IOW... "averaging down" is dangerous. Smart traders don't do it.

It has always been about "worth the risk". You need to figure out how/where to "risk a little while trying to make a lot". Your criteria for going on a risk could be technical, psychological or both. As for consolidations, they are periods of indecision. Draw a line across the top of the...

Here's a great example of "bias", one which I discovered early on while researching old charts. The exact dates may be off a bit, as I'm recalling from a Swiss cheese memory... From 1966-1982-ish, the markets were in a broad trading range. So... the "big picture" was "sideways trend"...

You've answered your own question. One way to describe a bullish trend... "higher highs and higher lows on daily chart". Vice versa for bearish trend. To catch the start of a trend change, you have to make a good guess. Whether the journey is 1000 steps or 10 steps, the 1st step looks the...

I think your question is rather vague. Each trade should stand on its own merits. Stops... whether "points" or "Dollars"... are subjective. (Not subjective as whether or not to use them, but rather where to place them.)

Exactly right. Basic as that chart and bias play is, I suspect many traders don't understand or practice it.

My take on averaging into a losing trade goes something like this. Let's say I come across a chart I like a lot where the price is $85 and has recently bounced off of significant support @$80. Rather than wait/hope for a retest of $80 (which might not come), I would buy some at $85 and hope to...

"Real deal"? Defending claims of 10:1 win ratio?

That's not right. You MUST have a bias... and the correct one. You "know" to BTFD. You're probably conditioned to BTFD by now... and that's because the market's bias has been bullish. So... your having a bullish bias and trading around that has been correct. It won't always be thus.

BTD = Buy The Dip BTFD = Buy The F'n Dip Up trend... prices moving from lower left of chart to higher right. Vice versa for bearish trend. At the start of a new trend, it's not always clear. You're most likely to think it's not the start of the new trend but is a counter move to the prior...

Averaging down is dangerous. It takes only one big, bad trade to kill your year or even wipe you out. Anecdote.... This story was in one of the commodities or futures magazines. I just happened to be watching it as it unfolded. (I didn't participate, but I was following it real-time.) Some...

Mostly a sense of trend. You must have the correct bias to trade successfully. It isn't ALWAYS correct to BTFD. It's mostly been a one-way street in recent years, but when the market actually turns bearish the correct bias will to be to the downside. If you had a bullish bias, you'd know to...