Do you double down?
Posted: Thu Mar 27, 2008 11:46 pm
I have two questions about using Buy Sell Zone.
1. If you are quick enough to get into a trade right after the new hour starts and you are stopped out of the trade should you double down in the reverse position, ie; initially gone long 1 contract, stop loss hit reenter 2 short positions. Or is better just to wait for the next hour to roll by before giving it another go. I would suspect that it probably is better to just wait for the new hour so as to avoid getting involved in what may become side way price movement, plus it give you a cooling off period.
2. Should you enter into a trade only if it is going with the hourly trend.
Thanks in advance for any replies.
Scott
1. If you are quick enough to get into a trade right after the new hour starts and you are stopped out of the trade should you double down in the reverse position, ie; initially gone long 1 contract, stop loss hit reenter 2 short positions. Or is better just to wait for the next hour to roll by before giving it another go. I would suspect that it probably is better to just wait for the new hour so as to avoid getting involved in what may become side way price movement, plus it give you a cooling off period.
2. Should you enter into a trade only if it is going with the hourly trend.
Thanks in advance for any replies.
Scott