If we can consistently pick reversals more often than not, I'd still suggest scaling in anyway. Jumping in immediately does maximise profit, but it also maximises the loss. Scaling in minimises loss if the trade doesn't work at, at the cost of ...

why is everyone so afraid to average down?

No, you're making assumptions about how slower intraday and interday traders trade. You may care to think about the most successful traders and the timeframes on which they operate. They aren't scalpers.

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Not all of us are scalpers . Because I'm better at analysing overall global movement than I am analysing minute-by-minute action. I find it far clearer, more enjoyable, far less timing consuming, and more profitable. How ridiculous that you think ...

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I agree with this. I didn't mean to suggest that blindly tightening entries will produce superior results, but that it can be achieved with skillful precision.

why is everyone so afraid to average down?

Tighter entries lessen risk while magnifying profit. This is just as true for a swing trader as for a intraday trader. I'm a position trader, but I still make tight entries when I can.

why is everyone so afraid to average down?

Very nice.

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It would be a problem for them, but isn't a problem for me. I'm just thinking about the 5% drawdown stat.

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If I had investors, I'm not sure they'd be happy with my position size.

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It's only going up because of the dow.

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Depends if your analysis still applies, and whether you'd be interested in shorting at this level. If in doubt, it might just be best to close and gather yourself.

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Not really. Lower prices will lessen the hurt to aussie exporters, but Chinese demand will still drop significantly.

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House prices here are ridiculous.

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China slowing = less demand for aussie commodities = falling aud.

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You expecting the bombs to start dropping?

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No, risk aversion in falling global markets is the central theme to my outlook and strategy for the near future. [/QUOTE] It sounds like you were taking good prices though, so that is a different matter. I'm not against countertrend trading, but a ...

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Bullish? Stop looking at indicators. This thing is bearish, all I see is weakness. When this stops being supported, it will drop like a stone. Anyone looking to go long is mad in my opinion!

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Yet again, I completely agree with you.

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This is a longterm position for me.

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Add more to short at 2320. Decent price.

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This.

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