Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Need a kind soul to add sound/email alert to indicator 4 replies

save my soul 5 replies

Attachments: Soul's Thread
Exit Attachments

Soul's Thread

mate, keep sharing, I totally get it... hedging and hedging/DCA (I think its a mix, right ?) when doing right cannot be beaten, just simple math. that is not for everybody for sure, need to know how to trade profitably in the first place but now putting a 25-30 pips stop loss when you have better way to manage trades seems stupid to me... thank you for opening my eyes
y'all need to watch this - I don't use his system or his recovery algo - but watch it, because this is he truth and it might set your thoughts in the right direction

Inserted Video
Telegram: https://t.me/soultraderforex
Quoting soultrader
y'all need to watch this - I don't use his system or his recovery algo - but watch it, because this is he truth and it might set your thoughts in the right direction https://youtu.be/DOPfoN7dYpc
Thanks Soul!

I have watched all his videos. This summer I started using his strategy and I did well for a while with no stop loss but I did not known how to manage the drawdowns and I almost blown my little account, obviusly this was entirery my fault as I should have practiced and learned more about money/risk managment.
I am enjoying your thread and I would like to get a copy of your book if possible also I would like to learn more about your trading methods if you could share some screenshots of your entries would be great!

Thanks,
CGN
Hi Soul, find your thread fascinating and very informative. How do you decide the direction of the trend on a Monday morning at 8.00am UK when the markets have only just opened ?

Cheers, Baz
A few recovery strategy:
1-with a decent gamma double yor position in the opposite direction of the first trade
2-open an opposite position with the same size after certain pips of draw down wait for some profit in one of the two open position wait that one in profit wait for retracement (the floated loss has to in ugual or more respect at the gain did with the other operation)
3-mesh up of both two this strategy.
Hi all, quite a few asking about my entry methods and stuff like that - at this point i'm not willing to share that.

Remember this post was not about the way I trade but just somewhere you could ask questions to someone that's been trading for a long time.

The point of the thread was to help point you in the right direction. - i'm just giving a map and there are several routes to get where you want to be.

Even if i gave you every entry and the full critera of how i trade you wouldnt be able to make money from it because YOU didnt build it. the only thing that gives you confidence in trading is doing it yourself with real money on the line
Telegram: https://t.me/soultraderforex
Quoting soultrader
Hi all, quite a few asking about my entry methods and stuff like that - at this point i'm not willing to share that. Remember this post was not about the way I trade but just somewhere you could ask questions to someone that's been trading for a long time. The point of the thread was to help point you in the right direction. - i'm just giving a map and there are several routes to get where you want to be. Even if i gave you every entry and the full critera of how i trade you wouldnt be able to make money from it because YOU didnt build it. the only...
Hi Soul!

I did not mean to bother you I understand what you are saying and I am glad you are giving us the map and great tips so we can find our own path.

Best,
CGN
Dont bother to trade nemeth system,theres a thread on FF somewhere that some guy gave it a go,he soon blew his account,save your money guys..
Soultrader what percent of your hedges will return back to your entry levels so you can close them without loss?

Does win rate, or risk:reward afect your balance better?
Feels right this time!
Quoting Js3mwtRc
Soultrader what percent of your hedges will return back to your entry levels so you can close them without loss? Does win rate, or risk:reward afect your balance better?

they all come back, but bear in mind that i do add to them to bring the level lower. had two trades today so far - was long gbpnzd and took 22 pips - was short euraud and took 21 - bank hoiliday in the usa today so can't see much hppening this afternoon

Like i said, not really interested in talking about my trades or trading from here on in. just general discussions. if that's not enough then fair enough

Nozzer just because some other guy couldnt make money with something means squat - most traders on here couldnt trade their way out of a paper bag.
Telegram: https://t.me/soultraderforex
Quoting soultrader
y'all need to watch this - I don't use his system or his recovery algo - but watch it, because this is he truth and it might set your thoughts in the right direction https://youtu.be/DOPfoN7dYpc
watching now, haha the guy is entertaining ! but I'm scared to go to the end of the video and not using a stop loss again, I will loose all my friends, will I ? LOL
Seeing as many have asked for examples - just two trades today - crappy day really US bank holiday and all that.

See,told you it wouldnt learn you anything

Attached Image (click to enlarge)
Click to Enlarge Name: 3s8vn.png Size: 54 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Vs8vn.png Size: 58 KB
Telegram: https://t.me/soultraderforex
Thank you soultrader for the very illuminating thread

You and Ed Seykota are kindred spirits

A very enjoyable lesson in listening

Cheers
looks to my inexperienced eye like a double bottom, price rises and hits MA, retraces and then you enter on the way back up. The second trade is the opposite. I could be so wrong
I've watched Josephs video and trend following before and the concept was unique.

My 2 questions:
1.) If your broker doesn't allow hedging, would you try doing the same strategy with mental ideas as to what you're down and what you're up?
2.) Does your account blow up if you run out of margin? (50:1 in the US) I know markets eventually trend, but maybe that's the only "Flaw" of the strategy. But maybe the flaw simply doesn't exist considering markets need to move.
Quoting Kyuu
I've watched Josephs video and trend following before and the concept was unique. My 2 questions: 1.) If your broker doesn't allow hedging, would you try doing the same strategy with mental ideas as to what you're down and what you're up? 2.) Does your account blow up if you run out of margin? (50:1 in the US) I know markets eventually trend, but maybe that's the only "Flaw" of the strategy. But maybe the flaw simply doesn't exist considering markets need to move.

If your broker does not allow hedging then you could use two brokers - pain in the arse but for americans it's not legal to offer hedging

at 50:1 you need a bigger account OR trade smaller, the idea is the same- I have 500:1 available and vaery vary rarely do i use more than 100:1. you just need 10x the account size to get the same results i do OR trade 10x smaller to begin with. I have found though over the years that whenever i've gone for small lotsize nothing works because in your head it doesn't matter as much - the amount you win has to matter. this is why i think those who run 0.1 lots or smaller might as well be on demo. it will take you a lifetime to get to 100 grand and it will never happen - IT HAS TO MATTER.

back in the day i used to go for home runs - 100 pips was the norm. these days those runs dont happen with the frequency they used to so i trade bigger for less pips. it's a bit harder but at least you are mostly out of the trades quicker and in the money.
Telegram: https://t.me/soultraderforex
Quoting Bazzza
looks to my inexperienced eye like a double bottom, price rises and hits MA, retraces and then you enter on the way back up. The second trade is the opposite. I could be so wrong
no mate, not that, although it's often a bottom or a top and it's often a double - either an M or a W these two were actually a bit late but there's a reason for that. right now the daily trends are in no-mans land, trades are harder to decide on when the daily is a mess. I also have no MA on my trigger chart, i just often forget to remove it.

But i already said what i do earlier - I trade stop hunts in the direction of the medium trend for 20 - 30 pips at a time. There's no magic there, No secrets either that's my straight trading style, but that isnt the point, the point is what I do when they go against me. wheras you take a loss with a stop I do not.

I might take some screenshots and journal one such trade the next time it happens. it doesn't actually happen much if i'm careful so don't hold your breath.

My usual screen setup is this below. I actually have 5 screens (use to be 8) but i only use two for trading

https://soultrader.tinytake.com/tt/N...N18xNTc4NTI0NA
Telegram: https://t.me/soultraderforex
Thanks for responding, my account is large enough to make money with the strategy but when I watched his video last year, I basically only had 1 question:

Is hedging really worth it? Considering you have the margin with 500:1 (maybe i should leave the US), what's the difference with admitting you're wrong and going out with a loss rather than opening a bigger position the 2nd time it happens? You won't have to pay the fees of holding positions as well and you'd have more margin to use if you keep on being wrong.

Is it purely psychological to make it seem like you don't have any losses although you're technically sitting on one until the next set up occurs? or is it the risk of missing the opportunity if it actually occurs and you end up just sitting on a loss? I'm sure the drawdown for the account is the same technically (assuming you calculate drawdown as the biggest loss during any given trade regardless of closing the position)

I hope that makes sense. Without hedging and using the same strategy, in theory you'll have losses but the winners will simply make up for the losses and the total gain between an account that hedges and one that doesn't is the same except for the fees you'll need to pay for holding positions and you'd have more margin without hedging (even though you've made it clear you don't need it).

I'm not trying to argue with the hedging, I'd just like you to tell me why I'm wrong if possible because that's the only part I was stuck on. Thanks!
that is legitimate question, I like this thread because it make me thinking, what is the only order that make me lose money ? my stop loss, right.... thing is hedging is not really, not at all, for beginners it would be worst than a stop loss... but anyway your question is interesting and while the OP respond, let me put my two cents...

Quote
fees ?
you pay swap for holding position, but you pay fees for opening multiple positions in pure fees or spread, right ? does it balance it out ?

Quote
what's the difference with admitting you're wrong and going out with a loss rather than opening a bigger position the 2nd time it happens?
I think the difference with hitting your stop loss is that you dont know if you next or the 2,3,4 next trades will be wrong too, there it make a huge difference, I agree that you will loose time, lose 'trading power' because some of your margin will be stuck, but if you does this with a 1/10 of your full trading capital, nothing hold you to trade others way, assets in other accounts.

Quote
Without hedging and using the same strategy, in theory you'll have losses but the winners will simply make up for the losses and the total gain between an account that hedges and one that doesn't is the same
No, because the losses become break-even or even wins and the winners stay winners

really just thinking out loud, peace all
Quoting Kyuu
Thanks for responding, my account is large enough to make money with the strategy but when I watched his video last year, I basically only had 1 question: Is hedging really worth it? Considering you have the margin with 500:1 (maybe i should leave the US), what's the difference with admitting you're wrong and going out with a loss rather than opening a bigger position the 2nd time it happens? You won't have to pay the fees of holding positions as well and you'd have more margin to use if you keep on being wrong. Is it purely psychological to make...


Kyuu you ask a smart question, in fact a very smart question. Roger also made the same point earlier - why not just close it and move on?

To be fair you won't understand it till you try it. a few years ago I would be the first to sing along with you - why the f*** are you hedging? you are flat, just close the position ffs. I was just the same and I agree that logically it seems like that. just clse the trade and move on.

When you actually try it you will see why it makes a massive change to your trading. first of all when you hedge you are not pressured to do anything - whatever happens you have the same open loss. so if you went long, market turned went shoirt, came back etc etc - once you are hedged you can let that happen all day without thinking 'should i get back in now?' - because you are already in.

secondly you can decide to double a position in one direction once it starts moving - and remember they always move eventually.

and thirdly when the trend turns back in your original direction you can take profit on the hedge, increase the original direction and then make money on that too.

You CAN use hedging just to get to break even because you chose a bad trade. OR you can use a hedge to make more money that you would have by dollar cost averaging in to your original direction without having to sit through a very deep pullback - because that pullback is making you money with the hedge.

In the past I would have agreed with you 100% - but no longer - try it and you will see for yourself - even if you just try it with 0.1 lots to play about for a bit.
Telegram: https://t.me/soultraderforex
0 traders viewing now