joey u r making more sense than they are.....when most enter they go underwater an d they know that.......RARE TRADERS get the apex point almost perfect each time....i know......so close u would not believe it......but for most traders, not so......they should have a stop concrete each entry........so if their trades go underwater but are almost always high percentage winners they need to average in.........BUT THE FLY IN THE OINTMENT IS THEY LOVE 50% SYSTEMS SO THEY HAVE ZERO CONFIDENCE THAT TRADE WILL END UP GOING THEIR WAY........TOO EASY.........U DON'T AVG SOMETHING THAT IS MOST LIKELY A LOSER........U R SPEAKING OF MOST OF YOURS WINNING...PORGIE ON THE LEADING THINKING EDGE ...YOU WIN ....AM I .... ....RIGHT MR JOEYATA 1 OF A KIND?
S/R Emini Journal
- Thread starter 4re
- Start date
- Status
The only way you can get a better average is if u have a basis already established and the trade goes against you. How many people do you think can implement the discipline to make the decision to cut the trade when they are wrong after averaging into a loser. 90% will not do it because of their emotion.
Porgie,
how many times does a 100% system need to average into a trade ?
how many times does a 100% system need to average into a trade ?
That is my point, if you are building a longer term position it will work better but for intraday trading I don't see the benefit.
No its more a strategy for the ER. ES is much easier to time. The Er can move 2 points when the ES moves a tick at those violent turning points. Equally the pullbacks are much more violent giving you a good discount to add.
Some times I just need to commit. take a loss and look for re-entry.
well again if one doesn't have the discipline then nothing will work. but again we're in a very very non volatile time go back to 2000-2003 and try taking a 10 or 20 lot size as the es is moving 2-4 pts at a pop. you'll be stopped out most of the time. again if i'm hit the nail on the head and i hit the low then i still have my 5 contract position. no doubt it's more tedious averaging in but it's worked wonders for me for a long time. but as i said each person needs to find his own niche
Let's get one thing straight, we have 3 basic types of averaging:
1) average down
2) scale in
3) scale out
All can offer value to a person that knows when to apply them and when not. I have seen all three in use by others, I use 2 of these methods from time to time and have no issues with other traders that do not use them at all. The only thing that gets me is when you get posters with minimum trading experience saying that certain technique does not work, based on what exactly? or the likes of TQ who has NEVER (as far as I know) called a singe real-time trade, giving it large to others about how not to trade or some other BS. Risk management, position size management and PF determine whether it works or doesn't work for me, not anyone else, unless they DO actually offer value in their posts.
1) average down
2) scale in
3) scale out
All can offer value to a person that knows when to apply them and when not. I have seen all three in use by others, I use 2 of these methods from time to time and have no issues with other traders that do not use them at all. The only thing that gets me is when you get posters with minimum trading experience saying that certain technique does not work, based on what exactly? or the likes of TQ who has NEVER (as far as I know) called a singe real-time trade, giving it large to others about how not to trade or some other BS. Risk management, position size management and PF determine whether it works or doesn't work for me, not anyone else, unless they DO actually offer value in their posts.
Here are my numbers for tomorrow. I will be able to trade with you guys tomorrow but Wednesday's are pretty much out for me in the near future. I am trying to get a technician trained so that it can free me up again.
We are actually in a trading channel right now that I expect to stay in until the fed meeting on Wed. But it might offer some opportunity for some scalps.
Here are my S/R numbers though,
Long 1337.50
Short 1328.25
I have extended the amount of a breakout I would like by an extra .25 just to protect from a choppy environment.
Good luck tomorrow,
Gary
We are actually in a trading channel right now that I expect to stay in until the fed meeting on Wed. But it might offer some opportunity for some scalps.
Here are my S/R numbers though,
Long 1337.50
Short 1328.25
I have extended the amount of a breakout I would like by an extra .25 just to protect from a choppy environment.
Good luck tomorrow,
Gary
Well I wouldn't comment on this unless I had the experience. Although you know nothing about who I am, what I have said has value to the majority of traders and is the consensus of successful professional traders. If your ego cannot except my comments thats your problem not mine. You just keep hanging on until your losers turn into winners and give yourself a big pat on the back.
- Status