AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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All,
My hats off to Anek for starting this thread and many others for their great contributions. I'm seriously struggling to achieve a modicum of consistency in profits.
I'm religious about cutting losses quickly which is probably why I'm still alive.
I've gone through the entire thread and think I get it; this strategy is about straightforward as it gets; but I'm just not able to make money.
I think I'm l doing something fundamentally wrong; I always seem to get on the wrong side of the market (like today). Surely it can't be difficult to make even 1 lousy ES point on a day like today! Well I lost 3 and quit in frustration (fear of more losses)
Anyone have any words of wisdom?
thotspeed
My hats off to Anek for starting this thread and many others for their great contributions. I'm seriously struggling to achieve a modicum of consistency in profits.
I'm religious about cutting losses quickly which is probably why I'm still alive.
I've gone through the entire thread and think I get it; this strategy is about straightforward as it gets; but I'm just not able to make money.
I think I'm l doing something fundamentally wrong; I always seem to get on the wrong side of the market (like today). Surely it can't be difficult to make even 1 lousy ES point on a day like today! Well I lost 3 and quit in frustration (fear of more losses)
Anyone have any words of wisdom?
thotspeed
Many thanks Anek.
-How often do you keep adding?
- same size as original unit or decrease?
I heard one good rule, which is don't add unless the stop of the last position would be above (for a long) the entry price of the one before (assuming you have moved the stop up so that the stop of your whole position is also the stop of your last entry)...
It seems that this method reduces your reliability somewhat but makes a killing when you get into a big move...
-How often do you keep adding?
- same size as original unit or decrease?
I heard one good rule, which is don't add unless the stop of the last position would be above (for a long) the entry price of the one before (assuming you have moved the stop up so that the stop of your whole position is also the stop of your last entry)...
It seems that this method reduces your reliability somewhat but makes a killing when you get into a big move...
Vienna,
Averaging up is not for everyone, I tell you that much.
It decreases your accuracy but when you are right you make a killing.
It also allows to you use leverage with discipline and cut ALL your losses short.
I keep adding as long as the trend keeps going like the Energizer Bunny.
Anek
Averaging up is not for everyone, I tell you that much.
It decreases your accuracy but when you are right you make a killing.
It also allows to you use leverage with discipline and cut ALL your losses short.
I keep adding as long as the trend keeps going like the Energizer Bunny.
Anek
Try analyzing today's chart like did.
It showed me the contrast between what I see after the fact and in realtime.
-Tech
It showed me the contrast between what I see after the fact and in realtime.
-Tech
Thank you!
There is some issue - the bigger the position gets, the more a small move with or against you means (it becomes like an avalanche)- so, if you are trading the ES and your trail stop is let's say 2 points away, and you are now trading 20 contracts, you are risking $2000 of your open profits. If you are only trading 10, you are risking 1000, obviously...so the moment when you add is the highest risk ... on the other hand, the same applies if it goes in your favor... was just wondering if there is some clever way of calculating how much to add at each increment and how often etc... but I guess this is not the scope of this thread.... you probably just add as long as you see evidence of the trend continuing... and get out of the whole shebang when the market shows you it is turning...? the turtles used to do this, and successfully of course
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