Turning Losing Forex Trades into Winners

Regarding profitability, there are two types of traders; those making and those losing money. If you are losing money (i.e. your strategy has a negative expectancy or faulty execution) then this text CANNOT HELP YOU. In this circumstance, cost averaging as expressed in this text will cause you to lose money faster since the premise is to make up for losses on the next or the next few trades. This is what is known as a Martingale type system (see Wikepedia for info on Martingale). As Van Tharp always says, the anti Martingale approach works.

If you are making money with your system, i.e. positive expectancy, then I would ponder one thing about taking the advice in this text and that is … Why would I alter my money management system because I’ve lost a trade? Certainly my money management approach will take into account losses and still be able to steadily increase my portfolio. Additionally, increasing your risk on the next trade assumes that your next trade is more likely to be successful than your last trade. Well, free Internet research will show that this premise is incorrect. Additionally, cost averaging is dangerous and may actually cause a good system to become marginal and a marginal system to lose money…. …

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