Wednesday, October 25, 2006

Doubling Up - Just this Once!!

What do you do when you know you are in a hole, and the one way of possibly getting out is if you double up your position.

Is there a way to do it, knowing that in a sense you are braking some cardinal rules.

I am going to attempt to do it, but under the following conditions:

  1. Knowing it is not sound trading practise.
  2. Keep a very tight stop loss should the double go against me.
  3. Be in the trade for a very short time.
  4. Never get myself into a situation like this again.
Lets see what happens.