Averaging Down the real Holy Grail
- Thread starter Avgdownking
- Start date
I'm a day trader so i wouldn't have held overnight but congrats to you! Other than that i totally agree with your strategy, I use fibs as well..
You can get killed averaging down as much as any other strategy ( even averaging up!) if you dont have a plan and discipline.
Losers average Losers ...
... becasue they just can't control themselves
Good luck (with this technique),
Jimmy Jam
Losers are jerks who dont want to hear other people's opionions... I understand if you disagree, the more the better but name calling is juvenile.
I thought i saw some smart constructive postings from you before, why dont you go back to doing that
<i>"You're not an indicator user are you?"</i>
Everyone is an indicator trader. There is nothing else to be seen in any chart except for indications of future price action.
Any way you slice it, we all trade off indications of where future price action is most probable to go. Everything lags the next price tick to come, which is of course the actual unknown.
Everyone is an indicator trader. There is nothing else to be seen in any chart except for indications of future price action.
Any way you slice it, we all trade off indications of where future price action is most probable to go. Everything lags the next price tick to come, which is of course the actual unknown.
It isn't name calling, it's the title of Lesson #3 from Terry Burnham's book.
The information I'm posting is constructive ... for traders who haven't developed bad habits.
Good trading,
Jimmy Jam
P.S. Hey look guys, I'm not trying to be a jerk here. You do this, you're going to feel an extraordinary amount of stress and tension, you're going to have to rationalize your position as you do deeper and deeper in the red (talking to yourself while smoking a cigarette - ugh, talk about krazy), and eventually you're going to have your head handed to you. I just don't want to see it happen to the little guy, that's all.
Here you go, AvgDownKing:
http://www.actionext.com/names_b/bruce_springsteen_lyrics/im_goin_down.html
Isn't averaging down a bit like driving faster when you're lost?
http://www.actionext.com/names_b/bruce_springsteen_lyrics/im_goin_down.html
Isn't averaging down a bit like driving faster when you're lost?
But you will find the right way faster
I understand where he gets that opinion, I've seen it many times myself - people avg down past support or other areas where you are confirmed to be wrong. What Avgdownking advises is different !. You need to have a plan that works - his does and so does mine.
I can name (though i wont for privacy reasons
) several 200k+ consistent yearly earners that use variations of this strategy. It can work very well if used properly !!If I could use AHG on stocks I would! Unfortunately it does not apply...
Sincere inquiry...Quote from iluv2trade:
I understand where he gets that opinion, I've seen it many times myself - people avg down past support or other areas where you are confirmed to be wrong. What Avgdownking advises is different !. You need to have a plan that works - his does and so does mine.
I can name (though i wont for privacy reasons
If I could use AHG on stocks I would! Unfortunately it does not apply...
I am Curios why you say AHG does not work on stocks... perhaps not in a scalping environment... but imho, I believe many of the basic principles in risk management, entry/exit, pattern recognition can be applied to most instruments. Anek shared many ideas and a simple methodology in a concise manner which have augmented my trading in equities. I would be interested to learn what portions of his technique would not apply...
Good trading to all...