Adding to a position doesn't always have to be at a key spot. I always look for good spots to add of course, but I typically have evenly spaced markers in mind. If you're trading small positions on a daily chart, then ideally you should only add every 200 to 250 pips or so at most, depending on the pair. Some pairs you have to space out more depending on the ADR. USD/DKK is one, for example, that I only add about every 1000 pips or so.
Large time frame trading isn't for everyone by any means. It takes a ton of patience waiting for these things to set up and then run to your targets. What normally happens is we get focused on the smaller time frames and we expect results too quickly so we wind up adding too much too soon on trade entries.
I remember trading with Strongtower on the board here. All he traded was EU. He had a standard setup on the 4 hour chart using an I-Reg and an SMA200. He had very simple rules set up for trading the pair, too. And he had specific points at which he would add to a trade.
At the time, I thought it was much too long term for my taste. I used to literally see him wait for weeks to even take a trade, let alone waiting for a trade to finally close out in his favor. But the rascal made money on a regular basis year in and year out doing it so he didn't have to hover over the charts all the time. It's actually a much more relaxing way to trade. But it takes a great deal of patience.
