What are we paying for?
In this update, we’re going to dive into the XLF (Financial) ETF. We’ll discuss a really important concept that is at the cornerstone of my end of day and in intraday trading — scaling in at up to three different levels within a zone.
Now, these are all pre-determined…
The first thing that I want to differentiate is that I don’t use the word ADD. I know that sounds kind of odd, but there’s a funny psychology to adding to a position and it’s usually adding to a loser.
You probably know we don’t add to losing positions and a lot of traders end up doing this. So what’s the difference between scaling in, within a specific zone, and adding at a specific zone?