Disliked{quote} yes, true. this with rollover was only a addon to your perfect describtion. but in general there is no need for this method, only maybe when learning programming its more easy to manage.Ignored
1
Free Panel To Place Trade Orders 0 replies
Need trade management panel indicator 0 replies
Need recommendation on Panel/EA to place Hedge order 0 replies
Trade Opportunity Panel - WSS 0 replies
Hedge strategy (not a hedge fund) 13 replies
Disliked{quote} yes, true. this with rollover was only a addon to your perfect describtion. but in general there is no need for this method, only maybe when learning programming its more easy to manage.Ignored
Disliked{quote} That's where we aren't seeing eye to eye. In general, most manual traders need a way to scale into a position with multiple orders and close it with one click <or> scale out of a position with partial closing(s) of a larger order. Either case requires the use of hedging followed by sending the broker server the "multiple-closeby" reconciliation command. The only way around this is to open a "netting account" with a MT5 broker.Ignored
Just my two cents. I am no hedging expert but it stank like a rotten egg in my initial years hence this post.
Disliked{quote} ok i see. but this can simple programmed experts also do, where you can define what amount you will close in what currency. but i understand your point, makes sense.Ignored
Disliked{quote} I think most traders don't understand the possibilities because they don't know how to properly utilize closeby. Let's say I'm using mean reversion and I set up a grid of limit orders on the outer edge of my channel. Now, let's say I want to setup a scale out grid (in case it starts to trend against) and I want to also setup a scale out grid in the opposite direction (taking profit). This is not a "hedging" strategy this is a position size strategy. You close partial orders by making smaller orders in the opposite direction. It's just like...Ignored
Disliked{quote} I wish there was a equivalent OpenBy() to pay spread/commission only once :-(Ignored
Disliked{quote} Open Buy and Sell at the same time and pay spread and commission only onceIgnored
Disliked{quote} Why would anyone want to do that? That's literally the same thing as sitting on the sidelines...Ignored
Disliked{quote} Dont ask me bro. I am just a noob :-) certain levels do require going both ways if one can pinpoint such levels within 5 pip accuracy.Ignored
Disliked{quote} I don't understand. Opening hedged is a waste of money because you simultaneously bought to open and sold to close; paying the dealer his spread and commish.Ignored
Disliked{quote} I know. I am just pulling your leg dude.... just in case there is any creative or hidden way to pay only once via 'Open'by()Ignored
//returns net position of a successful "OpenBy". -1 if unsuccessful. double OpenBy(string symbol,double lots) { return 0.0; }
Disliked{quote} I think most traders don't understand the possibilities because they don't know how to properly utilize closeby. Let's say I'm using mean reversion and I set up a grid of limit orders on the outer edge of my channel. Now, let's say I want to setup a scale out grid (in case it starts to trend against) and I want to also setup a scale out grid in the opposite direction (taking profit). This is not a "hedging" strategy this is a position size strategy. You close partial orders by making smaller orders in the opposite direction. It's just like...Ignored
DislikedIn case anyone is interested, here is the logic for reconciling all hedged positions as netting. void ReconcileHedgeOrders() { for(int i=OrdersTotal()-1;i>0&&!IsStopped();i--) { if(OrderSelect(i,SELECT_BY_POS) && OrderSymbol()==_Symbol && OrderType()<2 && (!m_locked_magic || OrderMagicNumber() == MAGIC) ) { int type = OrderType(); int ticket = OrderTicket(); for(int j=i-1;OrderSelect(j,SELECT_BY_POS);j--) { if(OrderSymbol()==_Symbol && OrderType()<2 && OrderType()!=type && (!m_locked_magic || OrderMagicNumber() == MAGIC) ) { if(!OrderCloseBy(OrderTicket(),ticket))...Ignored
DislikedThis is a superb EA! It is all the manual trader would ever need! However, they will not understand what you just gave them, I suppose... You have been around here for over 12 years. I do wonder, why are you throwing pearls to pigs?Ignored
Disliked{quote} I think what MoneyZilla said has merits. When used properly, this tool is invaluable. The question is how many of us would actually know HOW to use it? Nicholisen, it's very generous of you to share this with the wider community. I think most people have no idea how useful this is. For the last few months, I have been working on something similar by incorporating same concepts into a fully automatic EA. Run it on a low risk profile and use this on multiple pairs and 40-60% per annum is not a problem at all. IF you know what you are doing....Ignored
Disliked{quote} Apart from using hedging to freeze profits, I have yet to see a hedging strategy that works long term. Care to describe or point me where I can find one that successfully employs hedging....long term is 3+yrs for me. Frankly, Hedging to freeze losses just makes my head spin. I do hedge but not as can intension but as an outcome of following trends on mtf across multipairs but never as a risk management tool. Maybe i am wrong about this. I just like to keep things simple for my tiny brain to handle :-) Edit: my head spins mainly because of...Ignored
Disliked{quote} Please don't take my word for it, try it for yourself. I am but a practitioner of this intricate way of trading. I think the best person to point you in the right direction would be Moneyzilla - but he is as cryptic as can be for the most part. I have been using this strategy for a couple of months now, over 6 currency pairs including gold over just a $5k base. My aim is to average around 10% per month but realistically, I'll be happy with 5%. My believe is that Moneyzilla is way more ahead of any one of us in terms of utilizing this strategy....Ignored