Effectiveness and Risks of Pyramidding
|October 12th, 2011, 12:51 AM||#11 (permalink)|
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No offense taken, I didn't quite explain myself in specific so it does sound like an averaging on losers approach.
Basically I tries to identify possible turning point in price, the problem here is I would not be able to pin point the exact top or bottom but I could have a high chance to be right guessing the high probability range which the turning might occur - key support/resistance. Prices will generally oscillate once they get there - great for scalping.
So once the price goes into the region, I start getting in. I could have as much as 50-60 entries. I would take profit fast on many of these entries.
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