Add the losers

[Snuskpelle]

Adding to winners works way better in discretionary trading unless you're a _very_ disciplined and meticulous person who also have properly researched what you're doing. Would only add to losers in thoroughly backtested automated trading (and with martingale aspects properly accounted for).

 

[bone]

All the guys I’ve seen who got fired by their electronic prop firms or who had their Accounts closed and floor trading clearance revoked - just about all of them added to losers.

Check his live trading videos out, all he does is add to losers, when a position goes against him he says oh thank you for letting me get that price, if it keeps going against him he keeps adding and keeps entering orders to add more as the price goes against him, I guess some people call adding to losers as averaging in or scaling in.

https://www.youtube.com/user/ClayTraderVideos/videos

 

[bone]

Exactly. It takes zero skill to just add to an underwater position.

If you have to add the losers then you have no advantage.
It is simple.
Your correct answers must be above 50%.
If your correct answers are not above 50% then you have no advantage.
Sometimes the profit is not greater than the risk either.
Adding losers is playing with fire.
Remember that you must also pay the commissions.

 

[daxydet]

It would be best if you can add stop-loss and support & resistance levels every time you trade.