I often wonder why people put so much emphasis on entry ' the market's going to bounce off this pip, i just know !'
What's wrong with establishing an amount per pip, then adding to position, winner or loser till it gets there.
Take now i shorted the eurusd, at 1/3 of my total position size, if it rises some more (X pips) i will add another 1/3 etc.
same with winners, i will ad to them on the way down...
average averaging down is silly, as in , buying at support, it cracks and you add some more: has to be planned.
But why everyone is so afraid to admit they aren't perfect on entry/exit is beyond me
ps this is mostly for swing trading
What's wrong with establishing an amount per pip, then adding to position, winner or loser till it gets there.
Take now i shorted the eurusd, at 1/3 of my total position size, if it rises some more (X pips) i will add another 1/3 etc.
same with winners, i will ad to them on the way down...
average averaging down is silly, as in , buying at support, it cracks and you add some more: has to be planned.
But why everyone is so afraid to admit they aren't perfect on entry/exit is beyond me
ps this is mostly for swing trading