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  • #1,126,141
  • Aug 3, 2017 10:16am Aug 3, 2017 10:16am
Quoting hilmy83
{quote} shit, that looks complicated. but nice profit though
Thanks.
Holding till NFP tomorrow.
So far no PA to exit.
  • #1,126,142
  • Aug 3, 2017 10:17am Aug 3, 2017 10:17am
Quoting hilmy83
{quote} shit, that looks complicated. but nice profit though
If you want it. It must be Learn

Everything must be to Learn for know it
Always looking the GREAT, never left GOOD Point...
  • #1,126,143
  • Edited 5:58pm Aug 3, 2017 10:21am | Edited 5:58pm
Quoting imwim
{quote} You forget to mention the sarcasm, because the reports 20B from 23B is positive for $. ISM Non-Manufacturing PMI to be positive for $ should be above 50, so 53.9 is very good despite 57 manipulated forecast. Despite positive data in a row, the $ selling machine cannot be stopped out...
Frankly, my knowledge of Fundamental is Very Limited
I rely heavily on Technical Analysis [TA] for Trade

Trumph program's is $ Dollar should be Weakened
To be Competitive with other Currencies. Especially with China's have Surpluss Trade Balance.
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Always looking the GREAT, never left GOOD Point...
  • #1,126,144
  • Aug 3, 2017 10:25am Aug 3, 2017 10:25am
Quoting bbk1
{quote} To be honest I would not say that it's a sustainable strategy, but it's a way to minimize losses. But if one is not careful with it he/she could get burned on both sides. When I first tried it, I really got bitten bad and it took me a while to make it work for me. I only use this strategy if I had to, like in the situation I got myself in with EU. Of course there is no better strategy than to ride the trends but sometimes one gets caught up in a situation like I am with EU, and that would be the time when hedging might help Good luck to...
Thanks mate. GL and GB.
  • #1,126,145
  • Aug 3, 2017 10:32am Aug 3, 2017 10:32am
Quoting Ron25
{quote} Thanks mate. GL and GB.
I think it's going to next resistance at 19.10 between now and tomorrow's employment news then if the news is good we might see a retrace
I don't know what GL and GB mean
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  • #1,126,146
  • Aug 3, 2017 10:34am Aug 3, 2017 10:34am
Quoting bbk1
{quote} I think it's going to next resistance at 19.10 between now and tomorrow's employment news then if the news is good we might see a retrace I don't know what GL and GB mean
Thanks. Good luck and God Bless!
  • #1,126,147
  • Aug 3, 2017 10:34am Aug 3, 2017 10:34am
Quoting bbk1
{quote} I fully understand what you're saying but believe me I had been using this method of hedging for years and I have not gotten in a big loss except in my first 2 years of trading when I had no experience. The key here is: 1) have enough margin in account 2) patience. No matter how far up they take it, it's bound to come down. And like I said (I am hedging) I am buying as it goes up and closing the longs as it nears resistance or starts coming down, then buy from down again and close when it nears resistance and so forth while keeping my shorts...
I was there as well, but I skipped and joined the trend. Why "minimize losses" if one can take profit?
It's hard to make right decisions when negative positions pressing you. In such situation you believe in what you want to believe, not possible to correctly evaluate real situation. May be it works in most of other situations but not for the current abnormal trend IMHO.
Another point: when you hedging, you are long, when closing - you are short (with ALL or most of your negative positions). Would you do the same decisions (with the same amounts) from the scratch? My answer: no.

No offense, please. I just talking about my experience and conclusions. May be your experience is different. Good luck.
  • #1,126,148
  • Aug 3, 2017 10:39am Aug 3, 2017 10:39am
Quoting Ron25
{quote} Thanks. Good luck and God Bless!
Good luck and God bless you too
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  • #1,126,149
  • Aug 3, 2017 10:52am Aug 3, 2017 10:52am
Quoting Tsar
{quote} Frankly, my knowledge of Fundamental is Very Limited I rely heavily on Technical Analysis [TA] for Trade Trumph program's is $ Dollar should be Weakened To be Competative with other Currencies. Especially with China's have Surpluss Trade Balance. {image}
Dollar is not really cheap... but chinese products are definitely shit....

they cant even build a chair properly... damn cheap ass filled the air compressor hydrogen instead of the proper gas....
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We live in a finite world with infinite possibilities.
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  • #1,126,150
  • Aug 3, 2017 10:53am Aug 3, 2017 10:53am
Quoting denisius
{quote} I guess we are living in perfect world! Every number I mentioned touched as I mentioned.( at leas close call )
I think it will go up more!
1870 R will be broken soon!
Some pull back but the final price will be HH
  • #1,126,151
  • Aug 3, 2017 10:54am Aug 3, 2017 10:54am
Quoting myid
{quote} I was there as well, but I skipped and joined the trend. Why "minimize losses" if one can take profit? It's hard to make right decisions when negative positions pressing you. In such situation you believe in what you want to believe, not possible to correctly evaluate real situation. May be it works in most of other situations but not for the current abnormal trend IMHO. Another point: when you hedging, you are long, when closing - you are short (with ALL or most of your negative positions). Would you do the same decisions (with the same...
No offense at all. On the contrary, I find these kind of discussions enlightening and I am learning a lot fro it. I am sorry I did not understand your question
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  • #1,126,152
  • Aug 3, 2017 11:03am Aug 3, 2017 11:03am
Quoting bbk1
{quote} I fully understand what you're saying but believe me I had been using this method of hedging for years and I have not gotten in a big loss except in my first 2 years of trading when I had no experience. The key here is: 1) have enough margin in account 2) patience. No matter how far up they take it, it's bound to come down. And like I said (I am hedging) I am buying as it goes up and closing the longs as it nears resistance or starts coming down, then buy from down again and close when it nears resistance and so forth while keeping my shorts...
Is all about the margin and figuring out how far the retracement is going to be. I'm short from 1.15570, 1.16279 and 1.17837
  • #1,126,153
  • Aug 3, 2017 11:05am Aug 3, 2017 11:05am
Quoting bbk1
{quote} I fully understand what you're saying but believe me I had been using this method of hedging for years and I have not gotten in a big loss except in my first 2 years of trading when I had no experience. The key here is: 1) have enough margin in account 2) patience. No matter how far up they take it, it's bound to come down. And like I said (I am hedging) I am buying as it goes up and closing the longs as it nears resistance or starts coming down, then buy from down again and close when it nears resistance and so forth while keeping my shorts...

Hi Bkk!

I was Heavy underwater in the GPB/USD some monthes ago. I was long. It declined from 1,26 down to 1,21. Technically it looked as it was going to 1.15. It was huge amount. I sat waiting everyone said it was going further down. Some months later the GPB/USD is now in 1,32. I had a choice to sell or wait. My patience gave me a profit in this one in the end but it scared me finding myself so much underwater.I have learnt from this. I sell very quickly if it is not going my way. Unlikely is what I am fudamentally sure it will og my way in the future. Trying to hegde only makes more problems.

Abouth euro/USD I am very bullish but I would have done the same as you if I was in the same situation and you have mucles to keep it. Some correction will come. I think you have a good possibility to get out of the trade without loss. I would have taken the chance. When everyone is bull correction will come.
I think we will se 1.4 in the future.I am the most euro bullish of all Wait for declines .And long in the euro. Good luck
  • #1,126,154
  • Aug 3, 2017 11:08am Aug 3, 2017 11:08am
A cloudy but pleasant by the border of Mexico. I'm noticing that the EU is creeping up to 1.1900 where I have a limit short just waiting to get plucked. I'm hoping the chart reflects a testing the resistance and then head back down... way down. But since no one here or anywhere can tell me with certainty that it's on its way to 1.20 or 124 or whatever, I will continue to hope--with a capital H that it will go down.

No fundamentals coming out will help me. Ok, they blip the PA in my direction or not but that's about it. Technicals are a little better but again, it's just a rough guideline of patterns.

So all I'm left with is HOPE. It works pretty good for me--most of the time anyway. Go 1.1900!
Taigen Profit This Month: na
  • #1,126,155
  • Aug 3, 2017 11:11am Aug 3, 2017 11:11am
Quoting Marianne
{quote} Trying to hegde only makes more problems.
Indeed, hedging is the way to cover one mistake with another one...
I am who I am
  • #1,126,156
  • Aug 3, 2017 11:19am Aug 3, 2017 11:19am
Quoting Zemi33
{quote} Is all about the margin and figuring out how far the retracement is going to be. I'm short from 1.15570, 1.16279 and 1.17837
I am short from 1.1360, few shorts between 1.1390 to 1.1695, 1.1795, and few shorts between 1.1800, and 1.1875
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  • #1,126,157
  • Aug 3, 2017 11:20am Aug 3, 2017 11:20am
Quoting bbk1
{quote} I am short from 1.1360, few shorts between 1.1390 to 1.1695, 1.1795, and few shorts between 1.1800, and 1.1875
Interesting..
  • #1,126,158
  • Aug 3, 2017 11:30am Aug 3, 2017 11:30am
Quoting bbk1
{quote} No offense at all. On the contrary, I find these kind of discussions enlightening and I am learning a lot fro it. I am sorry I did not understand your question
Regarding my question (or just thoughts): assume one have 5 opened short slots with losses; then opening 6 long slots for hedging, then closing hedging positions - and what happens? You are going short with 5 slots again! So, the question was: if trading from the scratch, would you open 5 short slots in that particular situation? My answer was - no (may be short, but not 5 slots, because risk management is very poor then). So, my conclusion was: such situation is disturbing me from making right decisions. Described example is very simplified, I'm sure you are using more complex and more clever hedging, but I hope you've got my point.

Another bad thing: one is forced to trade ALWAYS with such strategy (when have losses) - you want it or not, positions are opened, one need to open new hedging positions, additional losses on open/close prices, rollover/swap costs, etc..
When trading from the scratch, one don't need to trade always: can wait for better enter (either way), can close positions and not to trade if situation is not clear.

I successfully used strategy similar to yours for a few years and usually was able to fight against trend (when happened) and get back with profit, but this time I surrender ... starting new strategy.
  • #1,126,159
  • Aug 3, 2017 11:32am Aug 3, 2017 11:32am
Testing 1,1912 today or not?
If no new high today or tomorrow, then retrace?
  • #1,126,160
  • Aug 3, 2017 11:33am Aug 3, 2017 11:33am
Quoting Marianne
{quote} Hi Bkk! I was Heavy underwater in the GPB/USD some monthes ago. I was long. It declined from 1,26 down to 1,21. Technically it looked as it was going to 1.15. It was huge amount. I sat waiting everyone said it was going further down. Some months later the GPB/USD is now in 1,32. I had a choice to sell or wait. My patience gave me a profit in this one in the end but it scared me finding myself so much underwater.I have learnt from this. I sell very quickly if it is not going my way. Unlikely is what I am fudamentally sure it will og my way...
Hi Marianne
I remember when GBP was going that much down, actually I was trading it long but got out of it when it started hitting that much low with some loss but not too big. I did not try to hedge it at the time as I took the easy way out to run away from it to something else. Good for you, you chose patience and was rewarded with the profit... but one has to be careful because sometimes a currency could be in an ever lasting drop or rise that it may take very long time to retrace.
I agree with you that hedging can bite if one is not exercising self control and let emotion take over. Hedging (buying in the opposite direction) should be used with utmost care or else the losses will be doubled. Also depends on what percentage is the hedging. I try not to go over 30 - 40%
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