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Scaling in - no stop loss

  • #81
  • Dec 7, 2017 3:11am Dec 7, 2017 3:11am
Quoting bmcgowra
{quote} I do not trade this. I tried on demo and if you try you will see big DD. Can you handle the DD if its real cash?
You know what traders usually say "only trade with the amount you can afford to lose". Of curse, in reality, losing money is painful regardless if it affects your personal life in any significant way or not.
  • #82
  • Edited 10:21am Jan 30, 2020 9:39am | Edited 10:21am
Hi,

Pls take a look at the chart I attached. I am following a signal, and plotted some of its past trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 546354845d3a7cf83dbe56c0a97bf96aa3996171_1_690x475.png Size: 67 KB

The trader keeps opening long positions, while the price continues to go down so much.

Does anyone understands whats he trying to do?

I see hes scaling in, and all trades closed above entries.

But what if the downtrend continues and price keeps going down? He may come out much below entries.
So, how is he so sure the price is going to close above all these entries?

I see so many traders doing this same thing.

Your analysis is very welcome - thank you.
  • #83
  • Jan 30, 2020 12:19pm Jan 30, 2020 12:19pm
Quoting JForex781
Hi, Pls take a look at the chart I attached. I am following a signal, and plotted some of its past trades. {image} The trader keeps opening long positions, while the price continues to go down so much. Does anyone understands whats he trying to do? I see hes scaling in, and all trades closed above entries. But what if the downtrend continues and price keeps going down? He may come out much below entries. So, how is he so sure the price is going to close above all these entries? I see so many traders doing this same thing. Your analysis is very welcome...
Risk management, I set a max loss for me... not reached.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2020-01-30-21-12-09-527_net.metaquotes.metatrader5.jpg Size: 709 KB
  • #84
  • Jan 30, 2020 12:42pm Jan 30, 2020 12:42pm
Quoting sar3
{quote} Risk management, I set a max loss for me... not reached. {image}
Thanks - your chart looks so much similar.

Can you elaborate whats the idea?

1- What makes you think price will go up from your range of buys? Especially the first buy.
2- Where do you plan to exit?
  • #85
  • Jan 30, 2020 1:07pm Jan 30, 2020 1:07pm
Quoting JForex781
{quote} Thanks - your chart looks so much similar. Can you elaborate whats the idea? 1- What makes you think price will go up from your range of buys? Especially the first buy. 2- Where do you plan to exit?
1. All time low... probability is in my favor.
2. Let"s see in a couple of months... I'll keep adding if uptrend again. (or I reach my loss limit)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2020-01-30-21-59-02-825_net.metaquotes.metatrader5.jpg Size: 625 KB
  • #86
  • Edited 9:52pm Jan 30, 2020 2:05pm | Edited 9:52pm
So, in the name of "averaging" the Buy price, this scaling-in setup keeps Buying in a Down-Wave.

But my question is, what happens if the price never comes back up?

I show in a example H-1 chart, when you keep buying in a down-wave, hoping the price will come up eventually.

Attached Image (click to enlarge)
Click to Enlarge Name: 53b17460335531c5276129ef02b79d0b.png Size: 30 KB


But actually, it never came back up. I even switched to D-1 to see if it ever came up - but no.

So now its hundreds of pips of loss, or a drawdown.

There's no guarantee it will come back up - so whats this strategy doing at all?
  • #87
  • Jan 30, 2020 6:39pm Jan 30, 2020 6:39pm
Quoting JForex781
So, in the name of "averaging" the Buy price, this scaling-in setup keeps Buying in a Down-Wave. But my question is, what happens if the price never comes back up? I show in a example H-1 chart, when you keep buying in a down-wave, hoping the price will come up eventually. {image} But actually, it never came back up. I even switched to D-1 to see if it ever came up - but no. {image} So now its hundreds of pips of loss, or a drawdown. There's no guarantee it will come back up - so whats this strategy doing at all?
It doesn't necessarily have to come back up as profits are taken repeatedly at lower levels and earlier trades can be closed, hypothetically, without loss.
  • #88
  • Jan 30, 2020 7:48pm Jan 30, 2020 7:48pm
Quoting jmag
{quote} profits are taken repeatedly at lower levels and earlier trades can be closed, hypothetically, without loss.
How can earlier trades be closed without loss when price has not come back to that level after entering?
  • #89
  • Jan 30, 2020 9:50pm Jan 30, 2020 9:50pm
Quoting JForex781
So, in the name of "averaging" the Buy price, this scaling-in setup keeps Buying in a Down-Wave. But my question is, what happens if the price never comes back up? I show in a example H-1 chart, when you keep buying in a down-wave, hoping the price will come up eventually. {image} But actually, it never came back up. I even switched to D-1 to see if it ever came up - but no. {image} So now its hundreds of pips of loss, or a drawdown. There's no guarantee it will come back up - so whats this strategy doing at all?
It's possible to stay there for longer... for me it's a small long term side bet. As long as my loss limit is not reached, I dont care.
  • #90
  • Jan 31, 2020 3:18am Jan 31, 2020 3:18am
Quoting JForex781
{quote} How can earlier trades be closed without loss when price has not come back to that level after entering?
I don't think this is a safe method unless risking very small, but what could happen is that you are taking 40 pip profits down below while keeping track, enough that you decide you can close the top trade without overall loss, then the next, etc.
  • #91
  • Last Post: Feb 5, 2020 6:26am Feb 5, 2020 6:26am
Quoting sar3
{quote} Risk management, I set a max loss for me... not reached. {image}
made some pips...
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