Episode 205: Change, Scaling Into a Position, and Avoiding Remorse in Trading

by producer on November 25, 2013

Play

For Episode 205, your host Rob Booker muses about the facets of change. Rob also talks about two steps that traders can take to avoid the equivalent of “home buyers’ remorse” in trading. Rob also discusses scaling in to a position. Rob talks about our tendency to add to our losing positions and yet, when things are going well, we tend to slam on the brakes.

Rob also recommends some good resources for traders during this episode. You can find some good information by going to Investopedia.com and looking up support and resistance. Rob also recommends reading Pring on Price Patterns by Martin Pring. Then there’s Edwards and McGee’s Technical Analysis of Stock Trends — another great resource. Also, Rob says you can order excellent DVDs on support and resistance trading at FXStreet.com. And Rob says you should also check out Edge Trading.co.

Links for this episode:

TFL365.com

Rob on Twitter: @RobBooker

The Traders Podcast on Twitter: @TradersPodcast

E-mail us! Producer@TradersPodcast.com

Trader Interviews.com

{ 1 comment… read it below or add one }

Bernie November 25, 2013 at 11:15 am

One important element you missed when scaling up is that you must raise your stop price so that your risk remains constant no matter how much more is being invested. If you are willing to risk $500 on the original order, then keep that risk amount even as you add more to the investment.

Reply

Leave a Comment

Previous post:

Next post: