What made you hold for that long? Well I set it up and fell asleep.
Also can you please explain the add on part, where would you add on? What are each add on decision based on?
Adding is part science and part art. You will want to figure out how to add and keep your breakeven/Stoploss behind key levels. I try to make my 1st add in a position to move my stoploss to zero risk. I would start with a 1+1+1 add process to practice.
What do mean by "I try to make my 1st add in a position to move my stoploss to zero risk." I am coming from a snatch and grab anything can happen type of mentally so maybe its challenging for me to visualize it.
So what your saying is your initial stop moves up as you add to protect your entries you made earlier?[/quote]
What made you hold for that long? Well I set it up and fell asleep.
Also can you please explain the add on part, where would you add on? What are each add on decision based on?
Adding is part science and part art. You will want to figure out how to add and keep your breakeven/Stoploss behind key levels. I try to make my 1st add in a position to move my stoploss to zero risk. I would start with a 1+1+1 add process to practice.
What do mean by "I try to make my 1st add in a position to move my stoploss to zero risk." I am coming from a snatch and grab anything can happen type of mentally so maybe its challenging for me to visualize it.
So what your saying is your initial stop moves up as you add to protect your entries you made earlier?
Stoploss goes where the positions average.[/quote]
I was reminded of MightyOne always saying 1. Position 2. Accumulation/lot size 3. Expansion The last part is the markets job!
He also said only move your stoploss when adding positions. If you start out with a max risk of 1% you never want to risk more when adding. You'll need to move your stop to bring your risk to 1% or less.
He dropped many gold nuggets here. One only needs a digital pickaxe to go find them to build your own system.
I hear ya. Read many of his posts, cool dude for sure. Trying to keep an open mind & flex a bit out of the all or nothing type of mentally. I know breaking up and adding can be more efficient and less risky. May be I'll post some charts if it clicks.
Wall Street, tasteful & classic the rest Meh..unless you want to your office to look like an entry way with posted coming attractions at a movie theater (ya'll remember those).
Vin Diesel
Just messing with you buddy, I enjoy socializing on occasion.
Lvup7 wrote:Wall Street, tasteful & classic the rest Meh..unless you want to your office to look like an entry way with posted coming attractions at a movie theater (ya'll remember those).
Vin Diesel
Just messing with you buddy, I enjoy socializing on occasion.
