Disliked0.4 is the r/t commission. Each side is 0.2. So that's $2.82 vs $2.
Ignored
It should have been $5.64 vs. $4.
Question to Soultrader 17 replies
Why can't I post on Soultrader's clinic? 2 replies
Disliked0.4 is the r/t commission. Each side is 0.2. So that's $2.82 vs $2.
Ignored
DislikedHowever, in the final analysis, that does little to sway the arguement.Ignored
DislikedExcept it's a flawed analysis to use TradeStation's spreads as the basis for the comparison. Any scalper/daytrader worth his/her salt is on an ECN. Here's a better comparison (real time). 6C at 1 pip, vs spot at 0.2 pip.Ignored
Dislikedhave you done?
still havent seen hide nor hair of a successful verteran 5 min FOREX trader with 10 months out of 12 profitable - WITH PROOF.
does one exist?Ignored
DislikedHere is a topic for discussion. I've been having some difficulty in adding to my winning positions. I'm torn about buying it all at once for risk issues but then I'm torn about adding and having the position correct. What might be a possible sound solution to my current dilemma?
thanks
buntonIgnored
Dislikedahh, a nice one to get my teeth into.
A very good question - and in reality one o the hardest things to do consistently. I havent yet managed to get this right and it's an area I want to concentrate on also so i'm deffo interested in hearing from others on this subject.
First lets cover what we know.
It's a proven fact that you make more money by adding to trend runners. Its also a provfen fact that you make more money by adding fractions of your initial stake that you do by just adding multiples of your initial stake.
for example if you are in for 1 lot then any additions should be something like a max of 20% of your original stake - so additions of 0.2 lots will make you more money over the long run than just adding another lot. This is a proven fact and makes sense when you think about it.
I don't however know on what timeframe this research was proved and I suspect it was daily charts and above.
Ive had six years in this game and still I find it very difficult to add to a winning trade - it's a lot easier adding to a losing one
However I have tried this in the past, adding to a trend when a pullback occurs at 20% of original stake and to be fair, it just has not worked for me. Maybe it's the timeframe I trade or maybe it's because i look to enter trends when they are running rather than get in at the first wave of a trend. I find that I'm adding not far off the end of the move and as such the addition is next to useless.
I looked at other methods too - adding at so many pips in profit - adding as each position gets to a break even state. Just couldnt reconcile it myself.
For me I no longer try to add in, either when going down from entry to get a better average (never worked for me) or adding when in profit. I just stick my first stake on and let it roll.
I'd love someone else to comment on this with something that works for them. Not theory though please - real hard methods in use.Ignored
DislikedLarge trends occur maybe once a year. But this is not enough good for me.Ignored
DislikedI'm not sure how you define a large trend but the GBPUSD has moved in excess of 1000 pips 3 times this year and is just about to finish up a 4th. And, we still have almost a full quarter of trading.Ignored
I think scaling in is one of the hardest things to do from a psychological standpoint. Most of us breathe a sigh of relief once we are breakeven so the thought of adding on more risk just doesn't feel right. When we enter a trade we immediately start thinking about an exit but would probably be better off thinking about adding. I would submit that if you killed just 2 big moves a year you would be a superstar trader. Adding is the single biggest thing that I work on in my trading.
DislikedI'd love someone else to comment on this with something that works for them. Not theory though please - real hard methods in use.Ignored
DislikedHowever I have tried this in the past, adding to a trend when a pullback occurs at 20% of original stake and to be fair, it just has not worked for me. Maybe it's the timeframe I trade or maybe it's because i look to enter trends when they are running rather than get in at the first wave of a trend. I find that I'm adding not far off the end of the move and as such the addition is next to useless.Ignored
DislikedFor example if you have entered in what looks like to you the beginning of a new trend, then trading the first main pullback (wave 2) to add to the position would be a good idea, as theoretically, you still have the main move (Wave 3) to come, adding after that is asking for trouble as the main move dies and the market decides what to do next.Ignored