My post at Forexfactory

From Forexfactory
Quote:

One last thing - you yourself said that "normally"(with no initial position) you would have waited for break confirmation with a close outside. So what makes your current profit so expendable that you didn't think it more sensible to wait in this situation as well? Had you seen this move and behavior without seeing the triangle, would your behavior / trade handling have gone differently? Which way of dealing with the setup, if it is one for you, is the more profitable/sensible one and does it change merely by the outset of your open positions or is it a self-contained logic each time, regardless of whether what you have already have open before it or not? Nothing of the above meant as an insult, but as thought provoking.

No worries SL. I appreciate the feedback.

The Fiber had been ranging between 3600 and 3700 for a few days and I've been making some profit from that.

From my experience, triangles/wedges is only reliable 50% of the time.

But since I can lose 0 pips (worst case) by taking the risk, it looked attractive to pyramid. This kind of opportunity dont come very often and it (pyramiding) had worked for me a few times.

In a ranging market, its hard for trend-trader to make money, let alone building profitable pyramid. But I had a chance to build a pyramid in a ranging market at 0 pips cost. Too tempting.

On second thought, it would be more sensible (and easier) to just wait for the confirmation (Daily candle close). But by waiting, I need to give up the chance to pyramid.

That's what I was thinking about back then.