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Scale-In On Price Drop

by Vangelis M., 2616 days ago
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The strategy consists of buying additional shares of a stock at a lower price than the first entry price.

It is similar to the "Averaging Down" MM Script but it is specifically built to work with the Connors_Alvarez MDD/MDU strategy.

The script goes through your open positions and if any current price is lower (higher) than your initial entry price, it buys (shorts) more of that stock, as much as it originally bought (in $dollar terms).

It scales-in only once.
It may use leverage.

An example: You trade XLF and SPY with 10,000. Let's say you are long both, 5,000 on each. Tthe price drops. and the MM script buys more. It would buy anothe 5,000 XLF and 5,000 SPY. So now you are 10,000 long on XLF and 10,000 long on SPY. Total 20,000 or a 2x leverage on the initial account.


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Type: Advanced Money Management

Object ID: 1186


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Market: All

Style:
Technical Analysis

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Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.