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Hedge Trade-panel

  • #161
  • Mar 1, 2020 11:03pm Mar 1, 2020 11:03pm
Quoting simnz
i feel it would be worthwhile developing this indicator or an EA as well simultaneously to get a probable plot to test the EA as to at what gaps should we test lock and at what points should be release the locks. Hedging needs ideal candidates who have strong mean-reversion tendancy and this simulator will help identify symbols as well and then use those symbols for further testing on your EAs. rgds simnz
Hello Simnz
I'm sorry I don't have the time to be involved in such a project.
I wish you all the best with your trading.
Have a nice day
  • #162
  • Edited 5:26pm May 10, 2020 4:44pm | Edited 5:26pm
Hmm very interesting .. hope this won't die.
  • #163
  • May 17, 2020 5:45pm May 17, 2020 5:45pm
Quoting MoneyZilla
{quote} Amazing posts full of wisdom. However, if I was you I would not advertise them. Please continue "teaching" and "preaching" one directional trades are the real trading solution for the hobby trader. We see how good the results of that kind of "work" are. 9,999 of 10,000 hobby traders are simply going nowhere. By seeing the real results of the suggested one direction trading style, we can judge how valuable it actually is. And your friends from pepperstone are probably admiring you about that... However, we can see hedging is not as expensive...
You are right , if hedge is not important they won't have the name hedge fund traders , the real pros trading for big firms like banks , use combination of hedge , martingal and stoploss . Using stop loss alone is a failure
  • #164
  • May 17, 2020 5:47pm May 17, 2020 5:47pm
Quoting Never
How many hedges will open ? What if too many buy or sell positions in profit ? Example : if close many buy positions then same amount of sell's total lot size will increase it may effect account
All trading method has its trick , I can never loss in hedge just same as how I can't lose using martingale , but when it comes to stop loss it's more difficult to determine market dynamic always in other to get stop loss right
  • #165
  • May 18, 2020 6:05am May 18, 2020 6:05am
Quoting billv
I would like to remind people of the basket closing feature of the EA which is very useful for manual trading and for fast moving currency pairs, like the GBPJPY or GBPNZD or even for indices like the DE30 Here is a reply I gave to 1 trader This Dashboard is probably ideal for the DAX but I would use it with a fixed TP + basket closure TP. For example, I would set the standard TP at 11 pips and I would let the Symbol basket TP function close 50% of the trade after 5 or 6 pips of profit. The remaining 50% will then be left to close with the normal...
Billv,thanks for making this available
  • #166
  • May 18, 2020 8:37pm May 18, 2020 8:37pm
Quoting billv
{quote} Ok Mr Genry, the alert (MT4 AUTOTRADING is OFF) has been removed in V17 {file} {file}
hi billv,
just started working on this. the REVERSE action seems to be not working. The reverse is working same as HEDGE, opening an opposite trade.

the REVERSE is not closing the opposite trade, instead, it opens an opposite trade like a hedge.

Can you please look into that?

Thanks
A new journey in life ...
  • #167
  • May 19, 2020 3:57pm May 19, 2020 3:57pm
Quoting billv
I would like to remind people of the basket closing feature of the EA which is very useful for manual trading and for fast moving currency pairs, like the GBPJPY or GBPNZD or even for indices like the DE30 Here is a reply I gave to 1 trader This Dashboard is probably ideal for the DAX but I would use it with a fixed TP + basket closure TP. For example, I would set the standard TP at 11 pips and I would let the Symbol basket TP function close 50% of the trade after 5 or 6 pips of profit. The remaining 50% will then be left to close with the normal...
Bill, my leverage is 500:1, so with regard TP If you use automated trade size and set the inputs AutomaticTradeSize=true Trade1PipsForRiskPercent=500 Is that correct?
  • #168
  • May 19, 2020 6:34pm May 19, 2020 6:34pm
Quoting tincog
{quote} hi billv, just started working on this. the REVERSE action seems to be not working. The reverse is working same as HEDGE, opening an opposite trade. the REVERSE is not closing the opposite trade, instead, it opens an opposite trade like a hedge. Can you please look into that? Thanks
Please look at the picture in post 1 which explains the REVERSE button's function.
The reverse button is only meant to open an opposite trade of x2 the size of your original trade (or x2 of the total of previously opened trades in the 1 direction).
It is not meant to close any trades.
Have a nice day
  • #169
  • May 19, 2020 7:25pm May 19, 2020 7:25pm
Quoting Johannes7
{quote} Bill, my leverage is 500:1, so with regard TP If you use automated trade size and set the inputs AutomaticTradeSize=true Trade1PipsForRiskPercent=500 Is that correct?
A 500:1 account leverage allows you to open larger than normal size trades (so that you can blow your account easier)
and it is offered by brokers who take your trades in-house ( B books.

Now back to your question.
Your account leverage is irrelevant in this instance.
The aim of the Risk Percent function is to balance your trade size so that the pip value is approximately the same across all traded currency pairs.
This function does not look at your individual strategy's requirements.
You would have to determine this requirement by yourself.

So for example if you decided that for strategy X you would like to use trade size 0.1, then you go into the EA settings and play with the input Trade1PipsForRiskPercent so that you will get 0.1 in the LOTS window of the hedge panel.
I would start with a value of 100 but it could be higher or lower depending on your account's trade size.
You don't need to change both inputs, leave the other Risk percent input at 1 or 2.
Then click OK to save the EA settings.

Once the EA has initialized, look at the trade panel's LOTS window to see if it shows a trade size which is close to 0.1
If the number is too small, you would have to decrease the value in input Trade1PipsForRiskPercent
If its much higher than 0.1 then you would have to increase the Trade1PipsForRiskPercent value and so on.

If its close to 0.1, then change the currency of the chart and see what trade size you get.
For a currency which has a higher pip value eg EURGBP the trade size should be lower and on a pair which has the lower pip value
such as AUDNZD the trade size would be above 0.1

You can use the same technique to achieve a higher or lower trade size but once you've set it up, you don't have to change it again.

Please note that the pip value would be different for an account which is opened in USD, EUR. GBP etc
because the pip value would vary depending on what your trading account's currency is but the end result would be the same.
Your trade size will be balanced. so your profit or loss would be approximately the same when you gain or lose 20 pips.

I hope this helps.
Have a nice day
  • #170
  • May 19, 2020 11:52pm May 19, 2020 11:52pm
Quoting billv
{quote} Please look at the picture in post 1 which explains the REVERSE button's function. The reverse button is only meant to open an opposite trade of x2 the size of your original trade (or x2 of the total of previously opened trades in the 1 direction). It is not meant to close any trades.
Thanks billv, for the quick answer.

sad, I was hoping that it would reverse the trade for a swing. please point me if you have seen something like that.

Cheers
A new journey in life ...
  • #171
  • May 19, 2020 11:55pm May 19, 2020 11:55pm
Quoting billv
{quote} A 500:1 account leverage allows you to open larger than normal size trades (so that you can blow your account easier) and it is offered by brokers who take your trades in-house ( B books.
totally agree... anything more than 50 is risky .. best is less than 10 or 20.
A new journey in life ...
  • #172
  • May 20, 2020 12:48am May 20, 2020 12:48am
Quoting tincog
{quote} totally agree... anything more than 50 is risky .. best is less than 10 or 20.
Depends on our strategy, but IMO a leverage of 10 or 20 is too low because it would a require traders to deposit significant amount of trading funds.

Some traders seek high leverage because they don't want to deposit large sums of money with a broker and they manage their risk by using a SL.
Other traders want high leverage so that their account has breathing space and so that its not margin called easily.

Either way high leverage is an increased risk for the trader and only B book brokers can afford to give very high leverage because their risk is managed in-house.
Have a nice day
  • #173
  • May 20, 2020 12:54am May 20, 2020 12:54am
Quoting tincog
{quote} Thanks billv, for the quick answer. sad, I was hoping that it would reverse the trade for a swing. please point me if you have seen something like that. Cheers
It is actually doing what you want but you need a bit of imagination to recognize it

Because x2 of the original trade in the opposite direction, is basically hedging the 1st trade (so it locks in your profit)
and at the same time it opens an equal size trade to your original trade but in the opposite direction.
When your 2nd swing trade has reached its target you can close all trades and you will have 2 lots of profits,
1 profit from the trade going up and 1 from the swing back.

Think about it, or even better, place some trades and see the magic of this feature.
Have a nice day
  • #174
  • May 20, 2020 3:18am May 20, 2020 3:18am
Quoting billv
{quote} A 500:1 account leverage allows you to open larger than normal size trades (so that you can blow your account easier) and it is offered by brokers who take your trades in-house ( B books. Now back to your question. Your account leverage is irrelevant in this instance. The aim of the Risk Percent function is to balance your trade size so that the pip value is approximately the same across all traded currency pairs. This function does not look at your individual strategy's requirements. You would have to determine this requirement by yourself....
Thanks Bill for your reply. Great work with this EA. Ihave place a few trades in demo and made a few mistaces but it works well.
I use ECN brokers, row and low spread but with commision and fast execution...pretty happy with them.
Magic number of EA is 676677, I was wondering if I can place trade through input from Dashboard with Magic number 676677 and Hedge Trade panel will finish off trade ? eg I have Hedge trade panel attached to EU /GU... and open trades through external input
  • #175
  • May 20, 2020 3:29am May 20, 2020 3:29am
Quoting billv
{quote} It is actually doing what you want but you need a bit of imagination to recognize it Because x2 of the original trade in the opposite direction, is basically hedging the 1st trade (so it locks in your profit) and at the same time it opens an equal size trade to your original trade but in the opposite direction. When your 2nd swing trade has reached its target you can close all trades and you will have 2 lots of profits, 1 profit from the trade going up and 1 from the swing back. Think about it, or even better, place...
Thanks billv..

never thought of that.. going to try that with another broker. Because the broker that I'm currently with doesn't allow that due to local laws.

you rock
A new journey in life ...
  • #176
  • May 20, 2020 4:09am May 20, 2020 4:09am
Quoting Johannes7
{quote} I was wondering if I can place trade through input from Dashboard with Magic number 676677 and Hedge Trade panel will finish off trade ?
You can use the same magic number in both EA's.

The hedge panel will still manage the trade/s placed by the dashboard EA
but please note that if you intend to use the symbol basket closure feature of the hedge panel,
the currency pair of the open trade should match that of the hedge panel.

Have a play with it and see if it meets your needs.
Have a nice day
  • #177
  • May 20, 2020 4:24am May 20, 2020 4:24am
Quoting billv
{quote} You can use the same magic number in both EA's. The hedge panel will still manage the trade/s placed by the dashboard EA but please note that if you intend to use the symbol basket closure feature of the hedge panel, the currency pair of the open trade should match that of the hedge panel. Have a play with it and see if it meets your needs.
Thanks for fast reply. I'm sorry but how does it work with symbol basket closure?
  • #178
  • Edited 6:57am May 20, 2020 6:35am | Edited 6:57am
Quoting Johannes7
{quote} Thanks for fast reply. I'm sorry but how does it work with symbol basket closure?
This function was implemented to assist me with trade recovery and/or risk management.

It has 3 levels of take profit ( TP)
and these levels are enabled with inputs
SymbolTradesBelongToBasket=true
SymbolTradesBelongToBasket2=true
SymbolTradesBelongToBasket3=true

Input SymbolMinTradesOpenForBasket decides the starting trade number (of open trades)
I have set these inputs to 1, 2 and 3 but you can start the TP level from any trade number.
Lets say you have set
SymbolTradesBelongToBasket=true
PercentageOfTrade1ToClose= 50
SymbolMinTradesOpenForBasket =1
SymbolBasketCashTradeProfit=7

When you have opened 1 trade, the symbol TP will close 50% of that trade when it has reached $7 in profit
If you have set the percentage to 100, it will close 100% of trade 1 .
If you have opened 2 trades, this TP level will not work because it is only set for 1 open trade.

The other TP levels work in a similar way
I use these TP levels mostly for risk minimization so that if my 1st trade is not going well and I place a 2nd or 3rd trade,
the TP2 or TP3 function will close all or parts of trade 1 or 2 or 3 (depending on the plan I have for those particular trades).
If my plan is for complete trade recovery, then I would set the percentage input for TP2 or TP3 to 100
and the EA will close all of the open trades.

Personally I find basket closure very useful because we can set different TP at each level
and each level can be different to the applied TP of the trade so if things don't go well and we are forced to open 2 or 3 or more trades
then the symbol basket function will kick in and with its lower TP level, it can help us get out of a bad situation.

Post 122 has some more info on Take Profit, but check my other posts too because I explained other things.
https://www.forexfactory.com/showthr...3#post12701403
Have a nice day
  • #179
  • May 20, 2020 7:09am May 20, 2020 7:09am
Quoting billv
{quote} This function was implemented to assist me with trade recovery and/or risk management. It has 3 levels of take profit ( TP) and these levels are enabled with inputs SymbolTradesBelongToBasket=true SymbolTradesBelongToBasket2=true SymbolTradesBelongToBasket3=true Input SymbolMinTradesOpenForBasket decides the starting trade number (of open trades) I have set these inputs to 1, 2 and 3 but you can start the TP level from any trade number. Lets say you have set SymbolTradesBelongToBasket=true PercentageOfTrade1ToClose= 50 SymbolMinTradesOpenForBasket...
Thanks for the explaination
On first page there is account Maintenance button but I installed Panel17and get this ...something wrong?
https://charts.mql5.com/24/747/xauus...-markets-2.png
mine says Closed Hedge
  • #180
  • May 20, 2020 7:31am May 20, 2020 7:31am
Quoting Johannes7
{quote} Thanks for the explaination On first page there is account Maintenance button but I installed Panel17and get this ...something wrong? https://charts.mql5.com/24/747/xauus...-markets-2.png mine says Closed Hedge
There is nothing wrong, I changed the name of the MAINTENANCE button
The button's function is to close the hedged orders so I gave it a more appropriate name
Have a nice day
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