21 hours ago
Friday, November 9, 2018
Demo Results
1:00pm CST - Traded demo account this week. It's so easy a monkey do it! Seriously though, my approach averaged into positions (5-lot NQ max) and scaled out too. Lots of discretion and a bit reminiscent of my trading in 2007 when I was wildly successful until doubling down endlessly nearly killed me. I may attempt to recreate some portion of this week's Sim success in live account soon. The key will be to be unbiased, quick, nimble, and rarely blow out of a 5-lot max position and when I do, limit loss to around a typical day's profit.
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Thanks and agree, that's why I'm not martingaling. Scaling in (not doubling down) is less risk. Perhaps just semantics...
ReplyDeleteI love average in. It helps to lower my entry price, in turn I can lower my exit price and stay in green column. It also proves I am right in my decision. One in a while market goes straight in one direction and my average in is in the opposite direction. In that situation the loss amount increases so quickly and so large that I do not want to get out. My solution so far is either staying with 1 contract so the loss doesn't freeze me or average in but get out at a fix amount. You can see what I mean in year 2017 performance on my blog. I try to stay with 1 contract so far.
ReplyDeleteDidn't know you blogged. Will have to add it to my roll.
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