anti-martingale by Lauriston Livermore

2717

You should look up "turtle traders"

Whenever i have had the patience to wait for the market to arrive at what i call a "Pivotal Point" before i started to trade,i have always made money in my operations.

This is from The Livermore Formula for Combining Time Element and Price

As we know Jesse L Livermore was one of the greatest traders of all time,patience and pivotal point,so wait for your entry and hold

the way i do it is i calculate my stoploss after that i place orders in a way that will not magnify the losses but stick to what i am willing to loose in the first place. let's say my stop is 60 pips(2% risk) what i will then do is divide orders and give each 20pips then give them different take profits to cover my RR ratio eg if i want a 1.5:1 i will give 1 order TP30, another TP30 and Another TP30 ----m opened for learning what's your view?

That's cool, but... kinda like 3 years late...

The situation can change completely in an instant, don't think that because you are in profit your position will continue in that direction, I would never keep increasing size unless it was to average in an initial position, you will get absolutely railed doing that

By the way [as this thread was already resurrected], talking about Mr. Livermore I would never call him a trader in the first place, let alone the greatest. Here's why:

1) Every time after making money he was losing it and losing very fast. Actually got bankrupt several times. Being in debt for like $1m and that's a million a century ago!
2) That is because he was breaking his own rules, believing in gut feeling and other voodoo magic which is nothing more than gambling. Maybe he was a medium - dunno... not a trader.

Finally, he committed a suicide! I'd rather give my money to some bank right away than follow such an example...

With scaling in I decided to enhance my MM trading real account.
Would just like to add that volatile pairs have huge sideways trend so that one can scale in 2-3 times on say 1H chart. No?