After a colorful flying start to my trading career for last 5 months, it made an unfortunate pause yesterday, which can take nearly years to revive (see here: https://tradingqna.com/t/4-lakhs-lo...f-motivation-and-caution-to-all-traders/16307)
Illness may be one of the major reasons for the indecision, but my question to all the experienced day traders here:
Suppose you are trading intraday - Should you average your loses, trying to make them to profits OR square it off taking a loss !!
I had applied this many a times in taking short positions, what goes up, comes down again, so averaging mostly works. But is it a right advisable thing?
Example:
You shorted Adaniports future 5000 size (2.5 x 2), when price was 300. It went to 302, and instead of putting stoploss, you add another 5k at 302, and your price changes to 301, and suppose it goes up, and you add another lot, and eventually it has to come down for sure.
Advantage: Your profit increases, as your lot size increases, and a stock going up, will eventually come down for sure (applies mostly to stocks which are going down in daily trend)
Kindly suggest.
Illness may be one of the major reasons for the indecision, but my question to all the experienced day traders here:
Suppose you are trading intraday - Should you average your loses, trying to make them to profits OR square it off taking a loss !!
I had applied this many a times in taking short positions, what goes up, comes down again, so averaging mostly works. But is it a right advisable thing?
Example:
You shorted Adaniports future 5000 size (2.5 x 2), when price was 300. It went to 302, and instead of putting stoploss, you add another 5k at 302, and your price changes to 301, and suppose it goes up, and you add another lot, and eventually it has to come down for sure.
Advantage: Your profit increases, as your lot size increases, and a stock going up, will eventually come down for sure (applies mostly to stocks which are going down in daily trend)
Kindly suggest.
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