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MrXHO
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MrXHO Nov 22, 7:11 AM

I have the same issue, I tend to have a habit of holding the stocks until it goes back up or until I'm fed up of waiting and just cut my losses. I blew up my account twice before in the past due to this risky strategy. I think it's because sometimes holding and hoping does pay off and we get rewarded for bad habits. But I know from experience, that multiple small losses have never resulted in having my account blown up, it has always been one single bad trade where I held it, increased to bad po

JasunYune
JasunYune Nov 22, 9:48 AM

@MrXHO yeah in one of the trading books, it said averaging down will allow you to win as much as 85 percent of the time, but that other 15 percent will result in you losing more money than you made in the 85 percent. Averaging down is a classic noob habit and one I am having a ton of trouble fixing.wi

MrXHO
MrXHO Nov 22, 11:12 AM

@JasunYune I listened to Tim Sykes and Grittani's biggest losses they ever had, it's basically due to the three factors I spoke about. They increased size when it was going the wrong way, each time they increased the size they thought the support or resistance would hold, but it didn't. They also held and hoped it would go back up. So I think the best way is to buy as close to support as possible if you're going long, so if support breaks you cut losses, if it holds then great. But make sure ris

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