Thanks for the post I'll put up a nice pic when I get the chance.
I've been off the computer which recharges the batteries.
Still holding those 9 contracts from 60.40 average at 65.27.
If it breaks 69 then I'm loading up.
I still think pyramiding is the way to go if you want to look into it.
To put it into perspective, I had a 10cent stop with one contract which equates to $100. So initial risk just that. Mind you I got stopped out twice prior.
After pyramiding my position I am up to $19 773.65.
Which sounds great, but it is nerve racking to see it at $45000 only to reverse to around $4000.
However still sticking to the plan and averaging up to set stops at appropriate points of resistance.
The hard part is to identify the trend reversal and offload before the stop gets hit. ie. not get too greedy.
Like you said, Livermore proved the big money is loading up when something is working in your favour.
Note: I haven't been trading for very long, but have come to believe that this mantra of "letting your profits run and cutting your losses short" in addition to doing more of something when your right and less of it when you are wrong, is the key to being very profitable.
It doesn't matter what method you are using, whether it is oscillators, indicators, wave, fibonacci or road island reds in the chook house it is about starting small, moving your stop to break even as quick as you can, and loading up as much as you can, and then get the hell out !!
