Ooooh. 
This hits hard. 
Talking about losses is one thing. But talking about it’s general impact on a person’s mental health is something that a lot of people really do avoid. 
Interesting! 
I actually believe that there are a lot of people like that here. Although of course, we would all love to read success stories for inspiration! 
Hmmm. I think this has something to do with emotions typically being in the way of winning trades. So a lot of newbies automatically assume you’re not allowed to have emotions when trading. BUT this is a very interesting way to look at it. 
Hello Steveee! Lovely seeing you here. Haha. I also reply to this thread every time I get the chance so don’t worry about it.
Would it be shameful for a trader to not know about these? 
Cause I think it’s the first time I’m hearing about these and I’m suuuper excited to see your posts about them. Do you plan to make something like a trade journal to show how these work?
In general, traders are people too and talk about everything. The question is different - they don’t want to talk about a lot 
You too!
While it’s certainly not shameful for a trader to be unaware of these concepts (basing and coiling), it is a shame that no one teaches it, especially since it is so germane to trading breakouts.
I hope to put together a post on it soon. For now, keep us posted on how you’re doing!
I would say that traders don’t talk about their failures much and it is not a good sign as it affects the mental health of the trader, which eventually disrupts their trading journey.
What to do when your trade is wrong. That can make all the difference.
You need to learn how to make lemonade from the bad lemon trades.
I believe traders never discuss their shortcomings and failures and also their strategies.
Pyramiding.
Interesting. I don’t think I’ve heard much about pyramiding in forex. If you don’t mind, how does this happen?
The conventional approach involves simply closing the position when it has reached a certain price or reached a certain distance from entry. Pyramiding means adding to a position which is gaining profit but keeping the original position open.
This implies that, apart from an unexpectedly lucky price move occurring just at the right time, the original position was a trend-following trade.
The ability to pyramid was the key to the success of the Turtle Traders. They followed trends but enlarged their winning positions by pyramiding, so their potential losses remained small, while their potential winnings grew exponentially.
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You have a really good point here. I think pyramiding can be the difference between success and great success, like compounding.
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Exactly.
Its tricky, not simple, so worth demo-trading extensively.
A valuable technique is to wait for profits to equal the capital risk, then add a new position with a stop the same distance back but move the original trade’s stop to its entry price. You are now taking the same financial risk but have doubled your potential profit if price continues to move in the direction of your trades.
In principle there is no limit to the number of times this can be done from a single entry signal.
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I think I’m familiar with the concept, and have unknowingly been trying to do this, but I didn’t know it was called “pyramiding.” This sounds like it does have a lot of potential to gain profits if executed properly. Sounds interesting!
Case in point -
This afternoon Tom Hougaard on his Telegram Channel, went from “Big losses on US session” minus 214pts on Dow, to plus 474pts in the space of 30minutes on the Dow - by pyramiding his winning trade four times!
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Wow!
Tom hougard deserves respect, I’ve known his name for years, I’ve heard him speak and I’ve seen his YouTube stuff.
But pyramiding losers is not what I was talking about.
No no no @tommor he was not pyramiding losing trades never never
He was pyramiding a winning trade 
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I don’t get why this isn’t just as risky as the original trade?? Do you have to have so much potential profit still left in the trade or something?
Once you’ve entered into pyramiding, the return on each pip into profit is increased by the number of positions opened. The maximum capital loss is never greater than the original loss from the very first trade.
Assuming you use the same stop distance for each new trade and advance the stop by the same distance for each existing trade, risk is not completely eliminated until you have three trades running - two pyramids plus the original trade. After that point, profit is guaranteed, even if all stop-losses are hit.
In fact, profits increase exponentially with each additional pyramid.
Of course, you always have the option of exiting all trades without waiting for the stops to be hit. This ensures that every trade in the package is a winner.
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