Innovest trading

[NoDoji]

Quote from innovest_11:

Actually it's been some months i never avg down like this, cause i know some fine day, avg down will kill me with big loss. How to prevent this from happening again?

Looking at the chart at 11:15, you ought to wait for price to pull back before going long. It just had a major run up from a gap up, so there will be some profit taking. Wait for price to become fully oversold (around 12:15). Or set a buy stop to go long on a break through the 56.39 high.

Averaging down at 11:15 was too risky, IMHO, even though you were going with the trend.

 

[innovest_11]

hi NoDoji, nice to hear from you again, the drop after 11:15 is horrible, it dropped from $56 to $55, scare the hell out of me, i thought it is just a temporary down, yes you are right, very risky, hope no such mistake again

Quote from NoDoji:

Looking at the chart at 11:15, you ought to wait for price to pull back before going long. It just had a major run up from a gap up, so there will be some profit taking. Wait for price to become fully oversold (around 12:15). Or set a buy stop to go long on a break through the 56.39 high.

Averaging down at 11:15 was too risky, IMHO, even though you were going with the trend.