How are you…do you enjoying on Summer relaxation…of course together with mobile phone in your hands to follow your trading position…
Are you ready for discussion about HOPE…
Never ever add to a losing position. I think this is one of the biggest “diseases” traders have. A stop loss is like a red light, it’s not a suggestion. It tells you to get out of the market not to add more money to the trade. It simply makes me angry to see people adding money to a losing position. It has no justification except one. HOPE…
How about you’re convinced the price is going your way, but it went on a retrace right after you entered the market? You then enter a second amount in order to average your position and get a better overall entry.
On the other hand, there must be situations where it is plain stupid to add another amount. :eek:
I have been trading for a few months now…and I have found my best profit trading the correlation between EUR/USD & USD/CHF…and they go opposite directions about 95% of the time…part of my trading is actually adding to a loosing position…hmmmmmmm.
The thread is in the free forex trading systems…Correltaion Trading, No Charts Required…take a look, but as always…dont knock it till you try it
eur/usd usd/chf trading is redundant, correlation trading
or otherwise. Better to just straight out hedge instead
which is also a dumb way to trade. And correlation
trading is also dumb, no chart usage, well dumb.
Your opinion is you own…and I won’t argue with somebodys opinion…
I will just take my “dumb” hedge trading, and the “dumb” +2180 pips it has produced over 8 weeks and be happy.