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Hi Peter,
I see nothing wrong. The red text at top is correctly telling us to consider shorts, not longs in top half of trading range. The bottom green text the opposite: get long and get out of short trades.
The text refers to the 2 green and 2 red boxes showing scaling into trades, so in right place.
Or am I missing something?
@richardhk And can you tell me what “Scale in” really means? Enter a lower time frame to find entry opportunities?
@richardhk And can you tell me what “Scale in” really means? Enter a lower time frame to find entry opportunities?
Patience Peter! 😀 You will get to topic in last section of PA Fundamentals, although Al did mention it here, a little early perhaps.
Nothing to do with other time frames but another term is 'adding on' which might make better sense?
So on the slide you could have bought 1 contract at first green box. The market keeps going down, then reverses, so you buy another contract at second green box. That is scaling in. Only for experienced traders though as market might keep going against you of course. You need to keep your risk in check as you add contracts.
Search for 'scaling in' and you will find several Ask Al and other posts on topic.
