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Attachments: Hedging/averaging trades without prediction
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Hedging/averaging trades without prediction

Quoting Waveskierrob
{quote} pure luck at it's finest ...doesn't always go that way but happy when it does ....
I very rarely get lucky. Always have to work for anything. I think I'm developing my style with this. I use TP for both sides. Usually start with directional trade, it naturally tanks right away, I start averaging down, then hedging. I use TP for both sides, but for losing side I use larger TP (2X) than for winning side. Seems to work. Obviously avoid news.
1.02^200
Quoting Waveskierrob
TRADE 59....DJIA ....SHORT @ 34300 no sl tp +5
added SHORT @ 34340 no sl no tp
Soon To Be Temporarily Suspended Again
added SHORT @34410 no sl no tp
Soon To Be Temporarily Suspended Again
  • Post #1,464
  • Quote
  • Edited Dec 5, 2022 4:56am Dec 4, 2022 9:25am | Edited Dec 5, 2022 4:56am
Decided to start posting screenshots of my open trades... the good, the bad, and the really ugly... and will do this on a daily basis if it's ok with Rob....as you can see I'm currently in a lopsided EURSD sell basket, but I did this for a purpose, lol, sort of, I needed to prove to myself that with patience, I can successfully trade out of a runaway trend without negatively impacting my equity. Because I trade with Oanda, I can trade micro-lots and this ensures that my trade size ($0.03 per pip) is really small relative to my equity....at one point I did have a hedge trade on with a GBPUSD buy basket, but closed the GBPUSD basket when the USD gained strength following NFP (I did make quite a bit of $$). Anyways, here we go...

what is my next step(s)? I don't know...yet. Most likely will start opening buy trades with AUDUSD, or the more volatile GBPUSD, while continue to average out the EURUSD sell basket...

Btw, I'm in the US, so placing same-pair hedge trades is out (aside from going to an off-shore broker). Rather, I trade using correlated pairs.. look up the posts from former FF member "yazzie" who traded similarly as Rob, and basically took $30k to $160k in a year (real account) offsetting GBPJPY trades with EURJPY....

Also, I don't trade using charts; although I will show a chart on the screenshot just to have a reference to where the current sell basket is, but normally the chart is blacked out..
Attached Image (click to enlarge)
Click to Enlarge Name: Open Trades as of Dec 4, 2022.jpeg Size: 487 KB
Tr
Quoting davelansing
Decided to start posting screenshots of my open trades... the good, the bad, and the really ugly... and will do this on a daily basis if it's ok with Rob....as you can see I'm currently in a lopsided EURSD sell basket, but I did this for a purpose, lol, sort of, I needed to prove to myself that with patience, I can successfully trade out of a runaway trend without negatively impacting my equity. Because I trade with Oanda, I can trade micro-lots and this ensures that my trade size ($0.03 per pip) is really small relative to my equity....at one point...
Please by all means post away, reading your post, it occurs to me you have the right attitude, something to think about
Soon To Be Temporarily Suspended Again
Quoting davelansing
Decided to start posting screenshots of my open trades... the good, the bad, and the really ugly... and will do this on a daily basis if it's ok with Rob....as you can see I'm currently in a lopsided EURSD sell basket, but I did this for a purpose, lol, sort of, I needed to prove to myself that with patience, I can successfully trade out of a runaway trend without negatively impacting my equity. Because I trade with Oanda, I can trade micro-lots and this ensures that my trade size ($0.03 per pip) is really small relative to my equity....at one point...
I tried search for yazzie and found nothing. Anything I did wrong?
Sentiment is moving the market. Just do the opposite...
Quoting davelansing
{quote} Here ya go... https://www.forexfactory.com/yazzie A couple of key posts: https://www.forexfactory.com/thread/...91#post7509191 https://www.forexfactory.com/thread/...61#post7510361 https://www.forexfactory.com/thread/...77#post7640177 https://www.forexfactory.com/thread/...80#post7698780
Sorry my friend. Google has found it. Search in forum was useless. Weird. I'll read it. Thanks
Sentiment is moving the market. Just do the opposite...
Quoting Waveskierrob
{quote} Please by all means post away, reading your post, it occurs to me you have the right attitude, something to think about
Thanks Rob.

Since I have a daytime job, my screenshots will generally be from the evening, after NY close, EST, but hopefully I'll remember to take a few pics during the day and post those as well. Also, I'll try as best I can to describe any trades opened/closed.
Tr
Quoting Waveskierrob
TRADE 59....DJIA ....SHORT @ 34300 no sl tp +5
SHORT tp hit +5
Soon To Be Temporarily Suspended Again
Quoting Waveskierrob
added SHORT @34410 no sl no tp
Closed SHORT 34310 +100
Soon To Be Temporarily Suspended Again
Quoting Waveskierrob
{quote} added SHORT @ 34340 no sl no tp
Closed SHORT @ 34310 +30
Soon To Be Temporarily Suspended Again
TRADE 59 +5, +100, +30 = +135....running total = +856
Soon To Be Temporarily Suspended Again
Screenshot update of EURUSD sell basket as of 12:00pm, EST. Price has to drop to 1.0444 to close basket at BE...

Attached Image (click to enlarge)
Click to Enlarge Name: Current Trade Status_EURUSD_12noon.jpeg Size: 523 KB
Tr
Today was the easiest 2.2% gain on my account, because I avoided work at all cost. It is easier to cream the market than to milk it.
1.02^200
Haha...
On the last weekend I came across this thread and really liked what I have been reading through all the pages.
So couldn't wait for Frankfurt and London start this morning.

I just opened randomly on AU and EG... Scalped a couple of tp5`s in my demo pocket pretty much around noon I started to place some trades to average the negative ones which were still in play.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.jpg Size: 206 KB

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.jpg Size: 211 KB


I never achieved this amount of pips during a single morning, had so much fun stayingin the market and ended up with nice green 187 pips
Hope I can continue this way
Quoting Mr.Moe
Haha... On the last weekend I came across this thread and really liked what I have been reading through all the pages. So couldn't wait for Frankfurt and London start this morning. I just opened randomly on AU and EG... Scalped a couple of tp5`s in my demo pocket pretty much around noon I started to place some trades to average the negative ones which were still in play. {image} {image} I never achieved this amount of pips during a single morning, had so much fun stayingin the market and ended up with nice green 187 pips ...
Yes, random entries, averaging down. Don't listen to anyone. This is the way.
1.02^200
EURUSD Sell basket update#2... as of 3:30pm EST. Closed 4 profitable sell trades (+20, +43, +70, +96)....Btw, the red boxes with the "arrows" are open sell trades, and boxes with the "clock" are pending sell trades.. each trade is offset by 25 pips. BE is now set at 1.0394.

Attached Image (click to enlarge)
Click to Enlarge Name: Update_330pm.jpeg Size: 470 KB
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Quoting Mr.Moe
Haha... On the last weekend I came across this thread and really liked what I have been reading through all the pages. So couldn't wait for Frankfurt and London start this morning. I just opened randomly on AU and EG... Scalped a couple of tp5`s in my demo pocket pretty much around noon I started to place some trades to average the negative ones which were still in play. {image} {image} I never achieved this amount of pips during a single morning, had so much fun stayingin the market and ended up with nice green 187 pips ...
Great post but be aware she does bite...
Soon To Be Temporarily Suspended Again
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