Growing a Small Account Part 2!!
Once again, our lead trader Matt takes us through his process of trading with a small account. Using the Litecoin USD chart from November 2017, Matt shows us how to scale in and out of positions to lock in profits.
Let us know what you think!
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Scaling / laddering seems to be a very contentious subject. You're either in one camp or the other. Matt seems to be in both !
I only every scale into winning trades (as Matt did) but never scale out of winning trades, only losing ones. It's madness to take money off the table and lose profits for no reason.
Other people will swear the opposite, scale (buy) into falling prices (mentally ill people, obviously).
It's a very divisive issue.
I only scale into winning trades and cut losing trades too. If a coin goes down, I may scale into it as long as it doesn't fall below the trend line or hit my mental stop loss. Otherwise, bye Felicia!