I don't find issues getting filled with it, since I'm not fighting for ticks.
ES Journal - 2015
- Thread starter Buy1Sell2
- Start date
Out ... + 8.75. Will hold on to my initial long from 2052.5 over the weekend.
Is averaging down against the rules of this journal?
I don't know about "this journal" but any rules that someone else has for trading will just lose me money. I trade my rules for me, and those rules work for me. I seriously doubt following someone else rules for some other party will work at all times for them.
Personally, for me, for my style, mindset, averaging down does not work as a bulk of my trading of futures. Looking over my hard copy journal I have only taken since 1/2/2015 a total of 3 intra-day averaging down in the ES.
Averaging down works for some of our fellow traders here to erase either mental or timing mistakes. Averaging down is a valid, for them, trading technique, if it works for them, your mileage may vary.
Despite all of that, I am lurker of this site, and read with some interest some of the posters and ignore prattle from others. I am a believer in the great marketplace of ideas. Either the ideas have merit, or they do not. Therefore, any so called "rules" of "this journal" do not add to the marketplace of idea's but seek to impose top down stylist rules, this may work for the creator however, that style not for others. I hope that I won't have to lurk in multiple threads for ideas that are of use because of some dictatorial bent.
As always, trade your own plan, trade your own rules, and enjoy the fruits of your own intellect, and mental as well as pocketbook fortitude.
Back to my lurking,
Nichevo
Personally, for me, for my style, mindset, averaging down does not work as a bulk of my trading of futures. Looking over my hard copy journal I have only taken since 1/2/2015 a total of 3 intra-day averaging down in the ES.
Averaging down works for some of our fellow traders here to erase either mental or timing mistakes. Averaging down is a valid, for them, trading technique, if it works for them, your mileage may vary.
Despite all of that, I am lurker of this site, and read with some interest some of the posters and ignore prattle from others. I am a believer in the great marketplace of ideas. Either the ideas have merit, or they do not. Therefore, any so called "rules" of "this journal" do not add to the marketplace of idea's but seek to impose top down stylist rules, this may work for the creator however, that style not for others. I hope that I won't have to lurk in multiple threads for ideas that are of use because of some dictatorial bent.
As always, trade your own plan, trade your own rules, and enjoy the fruits of your own intellect, and mental as well as pocketbook fortitude.
Back to my lurking,
Nichevo
Ya well spoken, as some say, many ways to skin the cat, and watching how others skin is what makes public forums interesting.
Not necessarily in agreement here with Buy1Sell2 but he commands this journal.
Thank you for your question! It's the posting of averaging trades and lack of stop posting that is the issue. If someone wants to average or not use stops, that's fine, but posting of this offers no value to anyone who is interested in seeing good entry, exit and stop prices. No one has any idea how well capitalized anyone is and a trader could theoretically average all the way to zero and then step back in and claim victory when the market bounced over their average price. For example: recently a trader here went short in the 2050's without posting a stop and then disappeared while the market climbed to 2119. Subsequently, when the market returned to the entry level, the trader took profits at a 3 pt gain. Now, what does that offer the reader of the journal? In another case, a trader took a short position and then when wrong, averaged in more. Then, when the market continued to rise, that trader disappeared and has not returned yet. Wouldn't it be better if posters showed that they could be wrong and get stopped out? Wouldn't that offer the reader something that they could actually reflect on, look at charts and decide if the entry, exit and stop made sense for them?--One more thing. It is not required to post trades here. Discussion is fine as well.
Thank you for your thoughtful posting! I wanted to point out if I may, that no one is being asked to trade someone elses rules. This is merely about the rules regarding posting of trades. It's not helpful to the discussion to post averaging trades or trades without stops. Any body with a 401k can do that. --Izzy
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That's it in a nutshell. Learn to be wrong and be ok with it. -- at least when posting--Ishmael
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Thank you for taking the time to explain your thoughts.