2009.05.14 TRO_AveragePrice

[TheRumpledOne]

2009.05.14 TRO_AveragePrice



You know you are NOT supposed to do it.

All the trading books, videos and tapes tell you NOT to do it.

But, you do it anyway ( and so do I ) !!

YOU ADD TO A LOSING POSITION, DON'T YOU??

TELL THE TRUTH.

THE TRUTH WILL SET YOU FREE!

TRO_AveragePrice plots you entry position and average exits.

FREE MT4 version TRO_AveragePrice, including SOURCE CODE, attached.


PLEASE DO NOT POST MY CODE ON OTHER FORUMS.

[Fxtraveller]

nope, I dont add to a losing position, and any small losing trade up to now would have turned out to be a big one if I ever added to a losing position while scalping. Maybe you could enlighten us newbies on how to do that and not lose the account ;]

[TheRumpledOne]

LOL.. you are NOT supposed to add to a losing position.

[Fxtraveller]

but YOU DO, like you stated above.
sorry, i might have missed the point.

are you saying that you too sometimes add to a losing position and you admit that thats wrong? (since we are all human)

[TheRumpledOne]

YES.

[JESGPY]

TRO.

Up how many time do you add to a posicion. And on what type of trades?

Thanx

JUAN

[WedWed]

http://kreslik.com/forums/userpix/8058_16052009a_1.png


Actually i am doing Averageing .. and some time it work some time come aginst me and then i fell the hard of averaging but the truth i am doing it .

just want to know is tere some base behaind these Horizntel Line .. i mean Entry 2 or 1 based on PA or TL or any??

thanx for making Trading very easy.

[TheRumpledOne]

TRO.

Up how many time do you add to a posicion. And on what type of trades?

Thanx

JUAN

I am NOT going to contribute to the delinquency of a trader...LOL!

[JESGPY]

LOL come on..
Some tips on HOW TO and HOW NOT TO add to a position will help us..
I have saved some bad entries doing that. But I got burned on some attempts also.

JUAN

[Fxtraveller]

TRO already said that he admits that it is WRONG to add to a losing position. I've done that before, and one nerve wrecking sleepless night made me learn this rule for good !!!

Certainly, some times you might save money, the other- you will lose all positions that you add. And thats already complicating the trading.

instead, try multiple lot trading and taking profit gradually. ie enter with 0.3 if your account size lets you to, TP1=SL, TP2= TP1+10-15 pips, TP3= whatever, 100 + pips or more and move your SL to your entry to creat a "free trade".
With this strategy, even if your success rate is 45%, you will STILL be profitable. I use 0.02 lots, close half as soon as I scalp 5-9 pips, and let the other half go at least 20-30 pips before I take more profit.

Keep it simple. if you are stopped out just wait for the next opportunity. FX gives plenty every day.