Surf, you know I like putting you in your place when I think you're wrong. But I don't like to see you lose money if you are trading live. Not every trade -- not even every losing trade -- is necessarily a learning experience. But some trades are, and this may be one of them. Judging by your willingness to add to a losing position and your penchant for relatively large initial protective stops (when you actually have them!), I am inclined to conclude that you are generally either unwilling or afraid to take losses. Your reference to vigorish, while not irrelevant by any stretch when taken in proper context, seems to serve as your crutch and excuse to hang on. However, since we were recently discussing him in another thread, remember what guys like PTJ say about cutting losses short and longevity. They somehow manage to stay around, don't they?
Here's a question for you: Have you ever added to a profitable position without incurring additional risk to your pre-entry capital (by virtue of predefined adverse exit criteria)? And if not, why not?
Have a good weekend, surf.
