Chapter 16: More bang for your buck
In this chapter, you will learn that:
• Pyramiding is a strategy where you add money to a winning position. When carried out correctly, it maximises your profit and gives you more bang for your buck.
• You don’t need to pyramid to trade effectively. Use this strategy only if you are comfortable with the concept, and perhaps have a little experience under your belt.
• Buy your largest position first, monitor your risk levels, and reset your stops every time you add money to the position.
• Setting profit targets is rarely an effective strategy.
• An anti-martingale strategy increases your position sizes when you are on a winning streak and decreases your position sizes when you are encountering losses. It ...