Wednesday, October 17, 2007

A Note of Thanks

I want to thank all who have commented to the recent post on trading resources. If you read through those comments, you'll find a wealth of online and print resources. Some are new to me, and I look forward to delving into them. I very much appreciate those who have taken the time to share with others; if I can ever be of help to you, please let me know.

Brett

3 comments:

Anatrader said...

Brett

On behalf of all your readers, I thank YOU for your generous time and efforts to share your thoughts and findings with us.

david said...

Hi Brett,

a text i found very helpful is an e-book called "Phantom of the Pits". You can read it on webtrading.com.
The text stresses the importance of adding to positions, something i found very important for my own trading strategy. Unfortunately few people talk about this.
What is your opinion on adding to positions that move in the anticipates direction?
Thanks for your insights, by the way, your website is one of the best ressources for trading i know. i especially like your encouraging way to communicate.

David

Brett Steenbarger, Ph.D. said...

Hi David,

I think it makes sense to add to positions, esp as one trades larger size and longer time frames. Indeed, institutions *have* to do that, given the capital they deploy in each position.

A Bayesian mindset helps: if the most recent price action increases the odds of hitting the initial price target, it makes sense to add incrementally to a position.

Brett