When creating a new thread, note which subforum you are in. Here is a short list of suggestions:
- Topic: Anything to do with an Elite indicator -> Subforum: The Elite Circle
- Topic: Looking for an existing indicator, or how-to use an indicator -> Subforum: (the platform)
- Topic: Programmer needing help with non-Elite indicator -> Subforum: (the platform) - Programming
- Topic: Want an indicator created/modified -> Reply to "Want indicator created free" in Elite Circle
- Topic: Vendors (trading rooms, commercial indicators) -> Subforum: Vendors/Product Reviews
- Topic: Discussion of Forex or Currency trading -> Subforum: Forex and Currency Trading
- Topic: Journals of your trading -> Subforum: Trading Journals or Elite Trading Journals
- Topic: General trading related discussions -> Subforum: Traders Hideout
- Topic: Discussion of a trading method -> Subforum: Traders Hideout
- Topic: Automated Trading -> Subforum: Elite Automated Trading
Last, any Elite Member may create more or less any of these topics in The Elite Circle at your own discretion (your support is appreciated).
This is just a short general list and doesn't cover everything. If you are unsure where to create your new thread, just create it in Traders Hideout and a moderator will move it if necessary.
-- Big Mike Trading
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
Very old thread, but like everything else, it is all down to context.. Account size, capital, ATR, but more to the point, I am not sure why it is always assumed that this is a non ending process that will go all the way to ruin. It can certainly do, but when done based on order flow levels, and not based on random levels, or every x points or some such, it is not only effective but it also it allows to give "more room" to a trade, which might not react to a level but can do on the following one, and it often can improve the average price to break down a trade in 2 or 3 legs. If there no reason to believe after the 2nd or 3rd leg that the trade should play out, all there is to do is to get out, just as one would once in a trade that doesn't work out.
Not true at all. Many successful traders scale in when a trade takes some heat, due to their premise not being entirely invalidated. I personally scalp with limit orders a lot, and scale in if I take some heat as long as I'm not expecting a strong breakout against my position. You can either scale in at fixed point intervals or at a second signal. If I wasn't doing this, I would be losing a lot of money.