Simple's Green Room

[live2trade]

Simple,

I am new to your board and appreciate all the information that everyone has been giving here. I have been trading for about 10 years - mostly with big boards and pennies.

Just to share something - take it with a grain of salt.

It is not always the perfect way but it does help reset your mind frame if you are in a losing trade.

Example you buy USD/JPY at 89.00 (2 units to make it easy)
It goes down 30 pips you buy 2 more units at 88.70 to try and get it leveled out hoping the best but then UGH! it goes down 30 more pips 88.40. I know this is small change but to show you one trading angle, buy 2 more units at 88.40 and pretend like you are starting fresh, as the trade goes back up trade those shares say for 10 or 15 pips, wait for the pullback if there is one and then use those 2 pips to buy in again and work your way back out of the hole. You would be amazed at how you can overcome a deficit and you lose the fear factor in trading. This is a small example to show the illustration. I have been down before big money and worked my way out using that technique. I missed what I thought was the entry so I made my buys again and again. It keeps you from having a fearful trading psychology. You have to be positive. XBigShot is an oldtimer on ihub and taught me to buy in small lot sizes and then when I do get the bottom load up and ride it up taking profits along the way. Just thought I would share that if there are some new people in here trading. I hope you all the best and thanks for your help in entry points everyone. I look at your posts. Sorry for the long message but I hope that it can help someone!

Live2Trade!