Abstract:Let's see how much of this data has made its way into your brain. Here's a quick review of the guidelines for scaling in and out of trades safely.
The coolest guide on scaling in and out of your trades EVER.
Let's see how much of this data has made its way into your brain.
Here's a quick review of the guidelines for scaling in and out of trades safely.
Stops should always be used.
If the danger of your COMBINED holdings is within your risk comfort threshold, only add to losing positions.
If you add to winning positions, always trail your stop to limit the extra risk that comes with a larger position size.
BEFORE you enter the transaction, calculate the correct position sizes and where you will add to/remove from your position.
Scaling into profitable deals works best in trending markets.
In range-bound markets, scaling out works effectively.
So now you know how to scale in and out of trades correctly.
Always obey the rules, and you'll eventually come across that one move that will net you some significant cash!
Next Lesson
Currency Correlation Explained
These champions have one thing in common: they not only work their butts off, but they also enjoy what they do.
"Patience is the key to everything," American comic Arnold H. Glasgow once quipped. The chicken is gotten by hatching the egg rather than crushing it."
Ask any Wall Street quant (the highly nerdy math and physics PhDs who build complicated algorithmic trading techniques) why there isn't a "holy grail" indicator, approach, or system that generates revenues on a regular basis.
We've designed the School of WikiFX as simple and enjoyable as possible to help you learn and comprehend the fundamental tools and best practices used by forex traders all over the world, but keep in mind that a tool or strategy is only as good as the person who uses it.