I’m quite new to Forex, less than 12 months but I’ve around in futures and options for some time. Firstly a big plug here, this is a great site, its too bad I didn’t discover it 3 years ago, fantastic job guys.
My question is on scaling. I know what it is, how it works ect, the principles behind it. Though I’ve never used it in my trading mo. I’ve recently realized after spending an enormous amount of time and money chasing systems, plans and methods for an ever higher ratio of wins to losses, that just maybe I’ve been on the wrong track. I’ve set myself up for disappointment and frustration, time and time again, looking for the mo that produces way more winners than losers. Now I’m beginning to except the more I can embrace getting smacked around, the more I can focus on improving the winners that do come around. Plus if I’m expecting more losses, trading has become a lot less stressful. I’ve learned I’m far more suited to longer term trading, call it swing and/or position trading. I know the real pro’s of the world do load up when they are on a winner, and lighten up when things go south. Can anybody suggest some techniques in scaling into a position I can explore using this market. I’ve thought of using time, recent swings, distance from entry, various indicators but at this point I’m stabbing in the dark. Finally the KISS principle is my guiding light for trading, so again if you have a simple, easy to understand and implement mo or system for scaling into positions, I’d love to hear about it. Thank you
Adam