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Hedging/averaging trades without prediction

  • #521
  • Oct 24, 2022 7:50am Oct 24, 2022 7:50am
Quoting Waveskierrob
{quote} Yes sometimes like now on TRADE 27 letting the SHORT run negative for a bit, you don't have to hedge or average out straight away, or I could close for a 30 pip loss and still be up +290 since posting trades from last week
No I mean end of day, when you leave the market
  • #522
  • Oct 24, 2022 7:52am Oct 24, 2022 7:52am
Quoting billytt
{quote} Thats the way Bird, That is amazing .
thank you master...i am your student, just learning.
trading is like dancing, don't think and just listen to the music!
  • #523
  • Oct 24, 2022 7:54am Oct 24, 2022 7:54am
Quoting Agro
{quote} No I mean end of day, when you leave the market
usually hedge 1:1 sometimes just close depends on profit that day
  • #524
  • Oct 24, 2022 7:55am Oct 24, 2022 7:55am
Quoting Agro
{quote} Hi Mate Are you entering randomly? Or do you have a trigger?
what i was showing live i am entering randomly.

but when i trade for myself quiet i am having the nacked m1 and h1 on my screen for orientation purpose.
trading is like dancing, don't think and just listen to the music!
  • #525
  • Oct 24, 2022 7:57am Oct 24, 2022 7:57am
Quoting Agro
{quote} No I mean end of day, when you leave the market
I mean what if you had to leave the market for a month. No clue as to where the market is going right. So are your only two options to hedge or close out right? The other option of just leaving your current exposure has to much risk right?
  • #526
  • Oct 24, 2022 8:01am Oct 24, 2022 8:01am
Quoting birdland
{quote} thank you master...i am your student, just learning.
I wouldn't say master, thank you.
I just know my trades.
Trade well bud.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #527
  • Oct 24, 2022 8:03am Oct 24, 2022 8:03am
Quoting Waveskierrob
{quote} Early days yet but Birdland has taken onboard what has been posted here and has use it to his advantage, hope your success continues and you continue to inspire others to follow in your footsteps....
thank you!

well, you answered the questions i asked you on the other side of the galaxy (the cable thread) and word by word i studied them carefully and gave it a try;-)

now i am still happy with the results but still feel i am in the learning process.
trading is like dancing, don't think and just listen to the music!
  • #528
  • Oct 24, 2022 8:05am Oct 24, 2022 8:05am
Quoting Agro
{quote} I mean what if you had to leave the market for a month. No clue as to where the market is going right. So are your only two options to hedge or close out right? The other option of just leaving your current exposure has to much risk right?
Yea for a month I would just close all trades
  • #529
  • Oct 24, 2022 8:08am Oct 24, 2022 8:08am
Quoting Waveskierrob
{quote} Yea for a month I would just close all trades
Thanks! That was an enlightening answer!
  • #530
  • Oct 24, 2022 8:09am Oct 24, 2022 8:09am
Quoting Waveskierrob
{quote} LONG triggered tp hit +3
pending LONG @ 1.1300 no sl tp +3
  • #531
  • Oct 24, 2022 8:10am Oct 24, 2022 8:10am
Quoting birdland
{quote} what i was showing live i am entering randomly. but when i trade for myself quiet i am having the nacked m1 and h1 on my screen for orientation purpose.
Thanks!
  • #532
  • Oct 24, 2022 8:17am Oct 24, 2022 8:17am
Wave, do you mind sharing your order entry amd management tool?
  • #533
  • Oct 24, 2022 8:24am Oct 24, 2022 8:24am
Quoting Agro
Wave, do you mind sharing your order entry amd management tool?
I have, see my TRADES ...
  • #534
  • Oct 24, 2022 8:27am Oct 24, 2022 8:27am
i am personally just using mt4...nothing special so far. if there are recommendation to have a better software or whatever, give it a go and tell us!
trading is like dancing, don't think and just listen to the music!
  • #535
  • Oct 24, 2022 8:28am Oct 24, 2022 8:28am
Quoting Waveskierrob
TRADE 27...GU...pending SHORT 1.1280 no sl tp+3...pending LONG 1.1300 no sl tp +3
SHORT tp hit +3
  • #536
  • Oct 24, 2022 8:29am Oct 24, 2022 8:29am
TRADE 27 LONG +3, +3 = +6 ...SHORT +3 total + +9......running total +329
  • #537
  • Oct 24, 2022 8:30am Oct 24, 2022 8:30am
Quoting Waveskierrob
{quote} pending LONG @ 1.1300 no sl tp +3
Cancelled pending LONG
  • #538
  • Oct 24, 2022 8:31am Oct 24, 2022 8:31am
Quoting Waveskierrob
{quote} I have, see my TRADES ...
I mean the mechanics of how you enter. Say for the first buy and sell (if that is how you are starting out for the trade) do you literally just press buy and sell real quick, or do you have a tool that enters both immidiately?
  • #539
  • Oct 24, 2022 8:32am Oct 24, 2022 8:32am
Some folks are visual like me (and lazy), don't want to try something without complete understanding (then what's the point of trying?). I guess you won't have complete understanding until you try. That's why I'm sharing a cookie cutter strategy:

1) Determine your instrument's ATR
2) Divide it by 10. That's your grid size, call it D
3) Draw your grid lines
4) Wait for price to hit the line, place buy+sell with TP of D
5) If price hits both TP, restart the process
6) if Price hits one TP and moves 2D distance, let's say down, place another buy without tp and sell with D tp
7) Price hits sell TP and starts moving up or doesn't hit sell TP and moves up, Close your position when the open PNL is 0 (your closed PNL is positive)
8) Price hits sell TP and moves another cell down, open again buy without tp and sell with D tp
9) try it for a week before asking questions
Attached Image (click to enlarge)
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  • #540
  • Oct 24, 2022 8:33am Oct 24, 2022 8:33am
TRADE 28.....pending ...EU...SHORT no sl tp +2 @ 9830.....pending LONG no sl tp +2 @ 9840
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