This may sound a bit counter-intuitive, and it is...
Because of fear and greed I still have a tendency to cut winners short and let losers run, obviously the opposite of what I should be doing. There are also times when I sell at the bottom and buy at the top, trying to jump on a trend.
I am on a non-NFA broker that allows hedging. So sometimes I wish I had an EA or script running in the background without even letting me know it is there, that automatically enters into positions double the size in the opposite direction of any position I take manually, and closes it when I close the manually taken position.
The margin requirements for that are exactly the same as for the position I intended to take. If my manual position shows a small profit and prompts me to take it out because of fear it could turn negative, I actually exit my net position for a small loss, thus keeping my stop-loss tight. If I let a losing manual position run out of greed it could come back, I actually have the net position go deeper into profit.
Of course this is a bit like putting your watch 15 minutes ahead in order not to miss that train -- you have to convince yourself (or be stupid enough to believe) that you do not know it is not showing the actual time.
Can something like this be programmed? I am a totally non-technical person, so all I can do is present the idea. I would love to have something like that.
Jesper
Because of fear and greed I still have a tendency to cut winners short and let losers run, obviously the opposite of what I should be doing. There are also times when I sell at the bottom and buy at the top, trying to jump on a trend.
I am on a non-NFA broker that allows hedging. So sometimes I wish I had an EA or script running in the background without even letting me know it is there, that automatically enters into positions double the size in the opposite direction of any position I take manually, and closes it when I close the manually taken position.
The margin requirements for that are exactly the same as for the position I intended to take. If my manual position shows a small profit and prompts me to take it out because of fear it could turn negative, I actually exit my net position for a small loss, thus keeping my stop-loss tight. If I let a losing manual position run out of greed it could come back, I actually have the net position go deeper into profit.
Of course this is a bit like putting your watch 15 minutes ahead in order not to miss that train -- you have to convince yourself (or be stupid enough to believe) that you do not know it is not showing the actual time.
Can something like this be programmed? I am a totally non-technical person, so all I can do is present the idea. I would love to have something like that.
Jesper
