I have found that guessing is just that, guessing. Most times a trader will be early, sometimes very early. Since currencies mean revert, if....IF one has a sound entry/exit strategy, proper averaging down will avert almost all serious losses.
Range Controlled Geometry
- Thread starter RCG Trader
- Start date
I have found that guessing is just that, guessing. Most times a trader will be early, sometimes very early. Since currencies mean revert, if....IF one has a sound entry/exit strategy, proper averaging down will avert almost all serious losses.
Ron, he did comply. I'm just saying...
If you read further, I stated that I will take a direction and reveal the entries and exits on the portion of the strategy that I do not mind being reverse engineered.
Context is everything, trader Maverick.
Please show a trade he made during December.
It sounds like you average down using a grid method, and I do not do this.
A 400 pip fed move and you are down 50%. I learned that during system development and I do not do that.
Quote from RCG Trader:
If you read further, I stated that I will take a direction and reveal the entries and exits on the portion of the strategy that I do not mind being reverse engineered.
Context is everything, trader Maverick.
Ron, I'm not trying to give you a hard time but your journal is all over the place. Why are you doing this? The guys up here who have taken the time to put journals up are putting a lot of effort into and keeping the BS off. This is not P&R. If you are going to do a journal, don't speak in code and contradict yourself. First you explicitly said you would not avg down, now your are averaging down. I don't get it.
I hate to come on here and make comments like never sell premium or never avg down because all or never are not good sound statements. But Ron in my 15 years, I'm not sure I ever met a guy who made it long term averaging down. It's like selling options. It feels good because you get instant validation by being right most of the time. But the large losses wipe you out. Same thing with averaging down. It's a sign you don't want to admit you are wrong. So you keep adding. The problem is the math doesn't work. Your big winners will always be small because you have one layer on and your losers will be huge because you added 5 layers. The math doesn't work. Sure, I admit every now and again there is a place for it. But for this to be the hallmark of your strategy is not going to end well.
I just wish you would be more honest and forward up here. This is the trader part of ET, not p&r. If you want to play silly games, do so down in chit chat. Up here if you are going to do a journal, do one and with do it with integrity. Both Luke and Phoenix posted a statement. You said you would and then you renegged. That's not honorable Ron. A trader lives and dies on his word. If you say something, do it.
You know I don't pick fights with guys up here, so this post is not meant to start anything. I'm just getting tired of the games. If you do a real solid journal and these guys give you shit, I'll get your back. I'll do everything to keep this thread clean. But right now it looks like it's the same old Ron from P&R only with currencies instead of politics. You're better then that. Time to show it!
You did not post a trade during December. Nor did you post anything else. No posts from you, no posts from me. This is a challenge, after all.
John, please to not try to come off as any kind of authority until you start your own journal. Right now, you are in mine. If you do not like what you see, feel free to unsubscribe and go back to posting about number lines.
Thank you.
OK Phoenix, did you tell him you made a trade in Dec and not report it? I'm playing this down the middle here, not picking sides. Just comply with what he is asking. If you said you made a trade, post the trades. I have no idea what you guys said or didn't say before. But just post whatever you have up here so this charade of a journal can have some legs.
So you are going to make no effort to put forth some integrity on this thread? This thread is basically P&R crap with some occasional currency trades thrown in? If that's the case, I'm going to ask moderators to pull the thread as it's going to become a running joke which it pretty much already has.