I don't think people are deliberately trying to trip you up , jeff, it's just a style of trading that you and your post advance that people think is bound to lead to disaster.
In essence what you are saying is that your analysis has led you to a conclusion of where price will go and that you should be prepared to suffer whatever drawdown occurs whilst that analysis remains valid until it eventually arrives at the target. Even, if I got it right, adding to the original position during the drawdown period.
I take issue with that on three counts:
1. However good the analysis there is never, ever, a certainty that price will arrive at the target.
2. Eventually, there must come a point during a continuing adverse move that the price action, news, surrounding economic circumstances, or whatever you use as the bones of your analysis leads you to a different conclusion thus leaving the target no longer valid. Whatever loss you are suffering must be taken at that point presumably.
3. If additions to the original position are made during the adverse move then, given your assertion about the validity of the target, they too should be held until that target is reached. In effect, therefore, you have staked far more than you originally intended, increased your risk and probably blown your money management plan apart.
If, however, those additions have been made because you'll then be able to exit with some profit before your target is reached then you are saying, in effect, that your original target is no longer valid which ruins the original proposition to hold until target.
