The psychology of adding to winning trades

[@LennieClausen_dk]

7:28 1st method 20:50 The psychology of adding to winning trades Thank you @Rita50 for the time stamp to the segment Thank you @Chestnut

[@GOJOROJO]

I will go through all of Tom's content!! He is the absolute man.... A mentor and catalyst in my change of character as a trader and as a human! MUCH LOVE TOM! 2/13/2024

[@Rita50]

7:28 1st method 11:11 2nd method

[@LennieClausen_dk]

thx

[@TheChopki1234]

A very interesting video. Buying when seeing a bull candle, selling when seeing a bear candle. Sounds too easy, but I guess knowing where to take profits is the real challenge. Got to say I find Tom to be a very inspirational character.

[@LennieClausen_dk]

Most of the time. Less is more. But I totally agree the exits are the hard part. And thank you for the nice words Tom IS someone else. Have no rooms, indicators, or online courses to sell. Just sharing to help fellow traders.

[@Stisse12]

Tom! You have change the whole way of my mindset around trading. Thanks for sharing your ideas !

[@LennieClausen_dk]

That's great to hear Stefan 🙏

[@mohamedredaabdou495]

Thanx Tom. This is gold.

[@LennieClausen_dk]

Thank you, Mohamed, did you watch the related Mindset videos? - kzbin.info/aero/PLTIUSbN_V17W-c4gClZkfvnVT1bMDy5k6

[@forexplorers]

Am learning a lot from you ..am putting myself up to trade just like you and even bigger

[@kristalbaldwin5600]

Thanks Tom for sharing your experience & methods. Much appreciated!

[@LennieClausen_dk]

You are welcome 👍

[@Tradervishnu]

What a amazing knowledge ❤

[@Obrien84]

Best trading content

[@evgenijm6151]

Thank you Tom. You are great human being. Thanks for sharing your experience and knowledge. Priceless info!

[@LennieClausen_dk]

Thank you so much.

[@evgenijm6151]

@@LennieClausen_dk I wondered if you guys could do video on trading principles for silver and gold may be? I noticed in one video Tom told there is different approach there, so would be interesting to know. Thanks

[@LennieClausen_dk]

@@evgenijm6151 give or take a little. Tom trade indices especially but not limited to Dax Ftse, Dow NQ 97% of the time 2% FX last 1% is WTI gold and odd stuff like the difference between Dow and Dax. So I bet Tom will not make a silver video in the near future.

[@evgenijm6151]

@@LennieClausen_dk Got it. Thank you.

[@abdallabs8631]

wow, what a great and informative lesson Tom

[@JBM101]

yes agreed

[@Orange_Trader]

cant believe scalping can be that easily, using the 1 bar strategy. Thank you Tom

[@thierryblanchard3602]

Thanks a lot for this vidéo Tom ! I'm pretty exited after viewing it because when you talk about buying green bars and shorting red, it's just a confirmation for me. Indeed I tested the same on Dax with 1 mn bar for a few weeks, but slightly different. I buy at the break on a green bar with a fixed TP of 5 pips. It works well during strong trend but there is a lot of false signals which make that strategy just slightly profitable. I planned to test it on 5 mn candles this week, and in the same time I was telling to myself that it probably wasn't profitable in the long run as it was too simple to be true ! I thought there were probably something I didn't get because if it was so simple, everybody would do it. So when I heard you tell exactly what I noticed and am working at, it confirm I am on the right path ! Thanks a lot !!!!

[@LennieClausen_dk]

Great to hear that Thierry, we hope you will also find some value in the other videos on the channel. 👍

[@malalink6929]

its been 3 years how are you doing with the strategy and what would you recomend for us newbies

[@anupnaik422]

20:53 Adding to Winning Positions

[@robertkacala]

8 hours a day, 5 days per week =2080 hours a year x 5 years = 10.400 hours then you read the charts like a pro....no drawing is needed

[@jayfosho8833]

isnt there a 10,000 hour rule where if one does somthing for 10,000 hours they become a pro? im praying!

[@LennieClausen_dk]

@@jayfosho8833 You are right - just ask Tiger Wood.

[@ashg9622]

13.5 hours a day 365 days a year makes 5000 hours. Backtesting, doing stats, reading, watching videos adds up too.

[@sskhussaini]

To quote Tom AND the original person who created this idea, "Practice makes PERMANENT! Good practice makes perfect." Don't just practice bad habits!

[@chestnut8741]

title is @20:50

[@LennieClausen_dk]

thank you

[@anujpeepre4657]

one more advantage I find of adding to winning trades is, say you start with 25-30% of your total position, in case the trade doesn't work and you got stopped out your SL will also be small. Overall thanks for your educational videos Tom :)

[@LennieClausen_dk]

Adding to winners is not easy at all. Personally, I like to set my addS to be very fast. I might be stopped out of my adds over AND OVER BUT WILL KEEP MY INITIAL ENTRY.

[@kannapiranr.p9607]

🎉🎉🎉Thanks sir

[@LeonardTutunaru]

👏👏👏 nice techniques

[@kirill8383]

Thank you Tom!!!

[@LennieClausen_dk]

You are welcome 🙏

[@pawanunique500]

Thank you 🎉❤

[@WebbMD11]

He said the 2nd strategy works on the DAX and DOW?

[@maulanajoshua5160]

Thx Tom, your wonderful.

[@LennieClausen_dk]

🙏

[@jdtrading7385]

Id love to see more videos!

[@LennieClausen_dk]

More videos are coming

[@4DownFootball]

My apologies poor wording. I meant which equity or currency pair to target. How do you choose which asset you're going to monitor for scalping opportunities? What's the criteria for a good asset to monitor for entries on a given day?

[@LennieClausen_dk]

if you trade EU session look for dax + uk100 - if you trade US session look for Dow + SP500.

[@ethanmariani5152]

what about reverse candles that reverse a 100% after you have entered a bullish or bearish candle on close?

[@GananciasNetwork]

Bookmark 16:56

[@rrc6965]

Great lesson. I was wondering how much would you risk per trade? I know it is almost impossible to calculate position size when scalping. Also by adding to winning trades how would you avoid using all your margin?

[@LennieClausen_dk]

I think you got to find out what's best for you. I would not say you should trade 45% of your account. But this video was made to raise a debate. Why does most of the "gurus" stick to a max risk of 1%? kzbin.info/www/bejne/f2qlZWeQmt6tjq8 When you trade it got to hurt. You got to push yourself a little further. Else you are just "Sunday Golfing" lol love that line. I think Tom mentioned it in the video A question from a client/John. But I'm not 100% sure thou. When Tom adds to a winning trade he uses the open profit to trade larger. Works on spread betting, but I'm not sure if you trade futures.

[@malalink6929]

@@LennieClausen_dk unless you are consistently profitable and you can show people your broker statements at a wimp stop giving people trading advice

[@cathleyson4227]

I think if you still asking when to profit ... I guess you trail stop loss and when it is hit , that's how you profit. Then another buy/sell signal candle to enter, do the same process...

[@johndiana5276]

Tom, thank you so much for sharing this information. Jack

[@LennieClausen_dk]

You are welcome 👍

[@williamxchau]

Came here to learn how to add to a position, it’s was literally only 2 minutes out of a 24 min video. Learned a new way for scalping tho, guess that more than makes up for it. Thanks Tom!

[@pozytywniezakrecony151]

Thanks for explaining adding to positions at the end

[@LennieClausen_dk]

An Advice if you never tried to add to a winner. Start adding a small size 10% or 25% of your normal position size. Adding is a double-edged sword.

[@pozytywniezakrecony151]

@@LennieClausen_dk I tried a lot of different things along the road. Added 2x 3x to find out small counter move wipes gains, but I will do as you say, although currently my lot is 1 as there is no smaller to I will go 1 or 1+1 and then grow

[@LennieClausen_dk]

@@pozytywniezakrecony151 hmmm where are you located?

[@pozytywniezakrecony151]

@@LennieClausen_dk Poland :)

[@LennieClausen_dk]

​@@pozytywniezakrecony151 I'm working with another person from Poland. If you want to locate me on telegram. This issue can be fixed very easy.

[@eyeservantez]

I love this guy he reminds me so much of Al Brooks.

[@LennieClausen_dk]

Thank you Eyes Servantez , some say Mark Douglas and now you say Al Brooks.

[@Treetopper911]

Great video, thank you!

[@LennieClausen_dk]

🙏

[@carrd3971]

thanks, i'll be sure to short green bars and buy red bars once i form my bias on direction

[@dmn7744]

Hello Tom I'm very interested in the strategy but when adding and being in a winning position do you have a profit target in mind or do you let it ride until it goes against and starts making higher highs? Thanks!

[@LennieClausen_dk]

Depends on where we are on the chart.

[@4DownFootball]

Hi Tom! Great video. How do select your scalping target for the day? Most volatile? Cleanest trend?

[@LennieClausen_dk]

Good question finding the "right" place to take profit is often harder than finding an entry.

[@Jameszim]

Thanks for the great video Tom but why does this scalping method only work on stocks/stock indexes and why not something like forex? Is it because of commissions or just different markets

[@LennieClausen_dk]

Good question if you are in the Telegram group - you should submit this Q on the Q&A form - I know Tom is way behind answering thou. I know Tom has answered this on some streams ... but can't recall which. In theory, it should work on all charts. But indices just seem to be better.

[@Vegelesnamai]

Eye opener. Ill try but im afraid commissions would eat all the gains

[@stevenjohnstone5833]

Great Tom. Thanks a lot. But, I was wondering where are you putting your stop loss when scaling in in order to minimise successive losses if price comes back against you. Are you doing it on ATR basis or or putting the stop behind the bar you have just bought, or do you place each successive entry's stop at the first entry bar's stop? i..e the same position. Say for example, you were making entries in 5 or six bar bull spike with solid bull bars and good follow through. How many times would you enter and where would you place your stops?

[@LennieClausen_dk]

Hi Steven, I just had a long talk with Tom. The next video he will make should be about adding to winning positions and how to manage the position.

[@stevenjohnstone5833]

Great ! That would be fantastic. Thankyou.

[@anjikidslearning9297]

how can be a great treader????

[@ditlevjaegerholm9346]

Hi Tom, Does this strategy imply that you are always either long or short? So when you are long and suddenly see a red bar - you sell... but do you also short ?

[@LennieClausen_dk]

Hi Ditlev, short answer is no. You will need to expand on your question for a better answer.

[@VeNick999]

Good morning Mr Tom. Great video. I love your psyhology videos, I often even have your words in my head when i'm trading. You talked here about how you don't use indicators to identify if it's bull time or bear time. A bare chart is enough for you. Hearing this I immediately thought of an Ichimoku chart. The signals are great to see because of the cloud and the lines. You must have heard of this method. What is your opinion of it?

[@LennieClausen_dk]

Tom does know Ichimoku - but doesn't use it. Tom's take on indicators (annoying translation) kzbin.info/www/bejne/jIbNqHdnjb-EqNU

[@eduardty]

Hahhahaha you're awesome man! great strat!

[@dawid.niestroj6045]

Hey Tom i will take this secret with me into ky Grave 😂.... I will definitly try this!

[@eddyoliveiram]

But is there a sing you use to identify you can add to your position? what about the stoplosses to each new added position and the oldest positions? should I move the old ones to the same level as the newest ones? or should they be each one at their levels?

[@LennieClausen_dk]

Hello that's some good questions. And very hard to answer here. A: Tom likes to add after X points when he has a runner. Depending on the product. Another option is to look for your "normal" entire patterns and take those. B: You will have 2 ways. It's mostly about your mindset. The easiest way is to just use your avage prices as base for stop loss. The problem is if you get out on all entries. Tom uses this way a lot. Personally, I prefer to run each position with its own stop loss. The problem here is I'll often be taken out of adds but on the positive side, I will often be able to hold the first entry longer.

[@eddyoliveiram]

@@LennieClausen_dk thank you.

[@bssitsmmsunrr]

@@LennieClausen_dk Hi Lennie, thanks for all you do. What is the meaning of savage prices? I tried googling it but I can't find anything.

[@LennieClausen_dk]

@@bssitsmmsunrr sorry typo on my side ment average

[@Thedabman]

I hope at some time that you will make a more detailed video about the 2nd mentioned strategy, of just selling/buying depending on wether its a bullish or bearish bar, cause i have so many questions lol. When we are in, what will normally be that target? Do you intend to hold it for several bars to come if they keep going in your direction, or do you want to be out again fast? And in times of consolidation, do you give it x amount of tries before you chose to wait for further structure before trading it again?

[@LennieClausen_dk]

Hi Casper Larsen , Tom shared his part you GOT to put in the hours to make it work for your product. What you ask is impossible to answer.

[@OrganicToon]

Thanks for everything you do Tom, you are an amazing man, I can't wait to buy your book, when can I get it? I have already read and downloaded your e-book! -Best Regards Chris

[@LennieClausen_dk]

Hi Chris, we have no date for the book release.

[@OrganicToon]

@@LennieClausen_dk Thanks!!

[@mortenstenberg5452]

Noget nyt med denne manual? /tak

[@LennieClausen_dk]

Hi Morten, I think the manual was released around 1/11-2019. That's my timestamp on it. Are you in the Telegram group? The "problem" with Tom. He is working on so many projects that it can be hard to filter out one from the other. But I'm 99% sure it has been shared on Telegram.

[@mortenstenberg5452]

@@LennieClausen_dk i am now :)

[@thapa81]

lol THE SECRET is so funny but powerfully true :P (12:00)

[@LennieClausen_dk]

I've found this is true most of the time. The more simple the more powerful.

[@mid044]

What if the bar is big and stoploss is more than 15 points what should we do

[@milapchaudhary8505]

Do not trade on that bar 😅 very simple

[@ethanmariani5152]

in the S&P ,when you make 2 points profit and you add positions you will make minus 500 % during the following minutes.There is no liquidity and prices jump wildly long or short for about 10 points in 3 minutes. so what do you do????

[@richardsanchez7709]

First off, you wouldn’t add to a losing position…that’s Stupid! If you’re adding to a winning position, then the initial setback isn’t an issue!🎉

[@lruityfoops2792]

Hey tom , someday i would really want to talk with you about some things :D . Hope i catch u somewhere , thanks and keep going

[@LennieClausen_dk]

Like 50k others 😉

[@lruityfoops2792]

@@LennieClausen_dk everyone got there chance :D

[@LennieClausen_dk]

@@lruityfoops2792 indeed :)

[@thiru1501]

Dear tom. Can you show some insight in indian markets nifty and bank nifty if possible☺🙏

[@LennieClausen_dk]

No - but you should be able to apply the same in any liquid market.

[@thiru1501]

@@LennieClausen_dk sure. Thanks again. Thank for replying kindly

[@OkieTradez]

i do this with otc stocks if i see 4-6 1 min red candles in a row i can expect 2-4 green candles in a row right after and with lvl 2 you can nail the dead bottom.. i cant wait to try this on the 5min time frame on the SPY..

[@LennieClausen_dk]

Hope it worked out on 5 min on SPY

[@OkieTradez]

we need a video how you add to winners and how you take profits more in DEPTH bcuz im constantly hearing dont have a profit target in mind but how then do you decide where you should lock in profits i know theres gotta be a good answer to that question?

[@LennieClausen_dk]

Hopefully, I can upload another video about adding to winning positions Friday - lookout for EXTREME - Day Trading. And it is Extreme just to show a point.

[@eyeservantez]

Similar to first red day and first green day.

[@LennieClausen_dk]

Hi Eyes Servantez, the same thing on a larger timeframe.

[@ThomasNorthener]

he he grineren med din hemmelighed der :-)

[@LennieClausen_dk]

🎯

[@Gg-trader11.11]

❤

[@whatever-rv5em]

how many have blown their account adding to losers? so to invert this, try to add to a winning trade, and hope that this trade goes to your average price, and hope it turns into a losing trade, you will be surprised how well the trade can be.

[@LennieClausen_dk]

I am not sure I understand your comment. Is in your mind adding to winners or losers good?

[@forexplorers]

In fact am buying a printer and starting right away

[@jarrell4878]

Your scalping strategy is very similar to how ive been taught by Oliver Velez

[@HedgingForexEdg]

Do you use in forex as well??

[@jarrell4878]

@@HedgingForexEdg i could but I trade indices gold n oil mainly

[@carrcossa]

what a legend

[@LennieClausen_dk]

Thank you 🙏

[@simchashaulov8929]

gold

[@crypto4207]

would love to buy u a beer

[@LennieClausen_dk]

Tom doesn't drink 😉

[@humphreyhinga6510]

74k views😅

[@kbd1232]

BEST LOSER WINS

[@Introvert_Rider]

silence.. never tried that before in several years

[@LennieClausen_dk]

Did you give it a try?

[@Introvert_Rider]

@@LennieClausen_dk ill try everything. Because im just a beginner with this and love to do it its give me peace in my head to watch charts. I reconize that every trade has an individual strategy, the feeling i has to build up, the mindset i have, but the feeling missing a bits of part and those part i want to learn from different succesfull people

[@enderton1]

Heres a great trader but bad teacher.

[@humphreyhinga6510]

Wtf you talking about?

[@kyokushinkai10]

You say you dont want this “secret” spread so widely but yet it’s on KZbin? Makes no sense....

[@LennieClausen_dk]

I believe it was a joke - Welcome to Toms Bad jokes 👀

[@kyokushinkai10]

@@LennieClausen_dk ahh. got it. well then it makes sense. :) Thanks

[@Hello-pl2qe]

@@kyokushinkai10 with 99% certainty, I bet you voted for Biden

[@crazyhead1588]

I can’t believe the 5 min red and green bar buy and sell strategy