Quote from princessa:
i'm gonna break this response down into the various paragraphs written, by paragraph:
1. no, like you said, and like i said, i start small and add on, as long as i am on the right side of the trade (or believe i am). i usually add on in equal amounts, though, instead of adding on in ever increasing amounts, as you do.
2. okay, there's two things wrong with your statement. one, i am not a believer in the whipsaw method, so believing in it won't help me, because i don't. two, there's a difference between gutsy and just plain stupid. like you said, it depends on the account size and, i would add, it also depends on the level of experience of the player. for me, trying to do something above my level of experience would not be gutsy, that would just be plain stupid.
a self-proclaimed newbie such as myself should risk little, play by the rules, and only use a system she believes in. someone more experienced, which i believe you are, and perhaps with more capital to risk, which i have no idea if you have, may be well-advised to use your whipsaw system. moreover, ALL traders are wrong sometimes. so it's not imprudent to recognize that when you lose, your judgement has been wrong, at least for that trade. step back, regroup, and decide rationally what to do next.
3. i agree. since i am newbie and therefore not willing to risk much, this method would most likely not work for me. i also believe that when you have more, it's easier to be gutsy. moreover, when you have more experience, more options are realistically and reasonably open to you. agree that this method would not be advisable for my capitalization and level of experience. this was my point in the first post.
Would you say that this option play a good money earner?