DislikedMy apologies. On re-reading, my post sounded patronizing but your response was gracious. You clearly know what you're doing, but that trade must have been a real nail-biter...
I'm very aware that fti's MO (if misunderstood) can degenerate into mere averaging down, which works beautifully until the death trade. Hanging on to losers is one of my scorpions. I try to identify change of trend from price action, and also use a trend line as a rigid fail-safe. No trade in the world has ever gone far in the wrong direction without first breaking a trend...Ignored
The method to my madness isn't rescuing against the trend. That is suicide.
I know from previous experience. LOL
I simply take new short term trades (scalps if you want to call em that) at key areas to build back my losses on the original entries. That keeps me in the fight longer.
Also, even though down quite a bit. I still had enough troops to play the shorter trades with a decent size and grab 5- 20 pips most every time.
This added a few dollars back to the pot. I also had to kill a few of them
when my timing was off and that trade went against me.
I use the areas of consolidation and supply and demand areas to determine when to strike.
Here is a thread that really made me see clearly how these areas work. I then
just applied it to the short term because you can even see it in 1 minute charts when you see it.
Only need to pay close attention to the OP's posts.
http://www.forexfactory.com/showthread.php?t=356696
... mi casa, su casa!
they normally create volatility...
