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  #21 (permalink)  
Old 06-01-2008, 12:01 PM
rhodytrader's Avatar
FX-Men Honorary Member
 

Join Date: Dec 2006
Posts: 1,000
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Quote:
Originally Posted by dobro View Post
I traded commodities many years ago; was doing very well until copper made a U turn- it took 2 1/2 days before my SL was honored and wiped out my acct. Good lesson, 2 yrs experience and zero +or- $. But something always made sense to me that comm. traders swear by: don't take profits off the table! Rhody mentioned scaling in and this is my thought - when you take a position why not enter with a very small position and then if the trade keeps going your way add another lot. If it continues to go, keep adding lots and adjusting the SL.

I never see this discussed or used with any strategy - must be some error in my thinking; comments?
The Turtles were quite successful scale in traders.
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  #22 (permalink)  
Old 06-01-2008, 01:56 PM
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Join Date: May 2007
Location: southern MN
Posts: 189
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I should have edited my post #18 as my SL was never honored; my position was closed (after 2 1/2 days) for a big loss - the biggies got 1st serve.
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