S/R Emini Journal

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Quote from Patricio:

If that's a winner it will reinforce a "bad habit". Adding to winners is one thing but this is a no no in most traders eyes.

Just mt 2 cents.
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you are mistaken, a trade is driven by money management, not by adding to winning or losing trades. Perfect timing is impossible to establish time after time after time, therefore at certain times there is a call to average down. Your stops determine whether you were right or wrong. It's a complex subject to get into.

EDIT: Notice how specifically stipulated "1 lot", if the odds were higher on that trade, then I would have started with more contracts.
 
Quote from romik:

you are mistaken, a trade is driven by money management, not by adding to winning or losing trades. Perfect timing is impossible to establish time after time after time, therefore at certain times there is a call to average down. Your stops determine whether you were right or wrong. It's a complex subject to get into.
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Well as we don't know the mechanics of your money management, let me generalize, its not a good idea for most people.
 
Quote from Patricio:

Well as we don't know the mechanics of your money management, let me generalize, its not a good idea for most people. In fact it does not make sense to me when this thread is following Gary's go short at 1329 and your stop is 1328.75
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"Most people" should not daytrade, what do you think of that?

I think you also have to ask Gary whether he would have initiated another short today @ 1329.00?
 
Quote from romik:

"Most people" should not daytrade, what do you think of that?

I think you also have to ask Gary whether he would have initiated another short today @ 1329.00?
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Very funny, thats what I think of that.

All I am saying is that unless you are a Warren Buffett, averaging down has no place in daytrading. I do not care if you don't agree, why would you, you are doing it. But it's good advice to those trying to be daytraders.
 
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