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Attachments: Hedging/averaging trades without prediction
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Hedging/averaging trades without prediction

  • #541
  • Oct 24, 2022 8:35am Oct 24, 2022 8:35am
Quoting Agro
{quote} 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?
just press really quick doesn't matter if it moves against you as it will move in your favour just as much or you can place pending like I have been doing today
  • #542
  • Oct 24, 2022 8:42am Oct 24, 2022 8:42am
Quoting Waveskierrob
pending ...EU...SHORT no sl tp +2 @ 9830.....pending LONG no sl tp +2 @ 9840
pending LONG triggered to hit +2
  • #543
  • Oct 24, 2022 8:43am Oct 24, 2022 8:43am
Quoting Waveskierrob
{quote} pending LONG triggered to hit +2
Cancelled pend SHORT
  • #544
  • Oct 24, 2022 8:44am Oct 24, 2022 8:44am
Quoting Waveskierrob
{quote} pending LONG triggered to hit +2
TRADE 28 +2 .....running total +331
  • #545
  • Oct 24, 2022 8:52am Oct 24, 2022 8:52am
Quoting d5400
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...
Oh Yes! Exactly the lines along I was thinking. We can get an EA to do this for us. But... I think we need to be able to take over the EA manually. Close sells for a loss when we need to. Hedge exposure when we need to etc etc

eg

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)

We could have the option of leaving 7) to our intuition and exiting when close to, BE or surpasing profit from sell trades. If price keeps moving down then buy again at 2D and keep going

I still think we need some discression to make this system work, but we can collect pips from the normal "up and down" movement of the markets as we go to cover any losses
  • #546
  • Oct 24, 2022 8:54am Oct 24, 2022 8:54am
Quoting Waveskierrob
{quote} just press really quick doesn't matter if it moves against you as it will move in your favour just as much or you can place pending like I have been doing today
Yes I totally get that. But for ease's sake, maybe we can get an adjustable on the fly EA that places the orders for us?
  • #547
  • Oct 24, 2022 8:56am Oct 24, 2022 8:56am
Quoting Agro
{quote} Yes I totally get that. But for ease's sake, maybe we can get an adjustable on the fly EA that places the orders for us?
Yea go for it, let us know how it pans out
  • #548
  • Oct 24, 2022 9:25am Oct 24, 2022 9:25am
TRADE 29.....DJIA.....pending SHORT 31160 no sl tp+5 ...pending LONG no sl tp+5 31200
  • #549
  • Oct 24, 2022 9:26am Oct 24, 2022 9:26am
Quoting Waveskierrob
TRADE 29.....DJIA.....pending SHORT 31160 no sl tp+5 ...pending LONG no sl tp+5 31200
Trigger LONG tp hit +5
  • #550
  • Oct 24, 2022 9:27am Oct 24, 2022 9:27am
Quoting Waveskierrob
TRADE 29.....DJIA.....pending SHORT 31160 no sl tp+5 ...pending LONG no sl tp+5 31200
cancelled pending SHORT
  • #551
  • Oct 24, 2022 9:28am Oct 24, 2022 9:28am
EA...hmmm...i am sceptical, but when it helps?

well, i have never seen one successful EA, here comes my bias from.
trading is like dancing, don't think and just listen to the music!
  • #552
  • Oct 24, 2022 9:28am Oct 24, 2022 9:28am
Quoting Waveskierrob
TRADE 29.....DJIA.....pending SHORT 31160 no sl tp+5 ...pending LONG no sl tp+5 31200
TRADE 29 ...+5 ........running total ...+336
  • #553
  • Oct 24, 2022 9:38am Oct 24, 2022 9:38am
Quoting birdland
EA...hmmm...i am sceptical, but when it helps? well, i have never seen one successful EA, here comes my bias from.
I agree!. Just for day to day order entry. Should have the function to be able to overeide or set to different perameters eg. get out when BE, get out when x% loss/gain, get out when I define...
  • #554
  • Oct 24, 2022 9:40am Oct 24, 2022 9:40am
TRADE 30.....FTSE.....pending SHORT @7010 no sl tp +3...pending LONG @ 7020 no sl tp+3
  • #555
  • Oct 24, 2022 9:41am Oct 24, 2022 9:41am
Quoting Waveskierrob
TRADE 30.....FTSE.....pending SHORT @7010 no sl tp +3...pending LONG @ 7020 no sl tp+3
LONG triggered 7020
  • #556
  • Oct 24, 2022 9:48am Oct 24, 2022 9:48am
Quoting Waveskierrob
TRADE 30.....FTSE.....pending SHORT @7010 no sl tp +3...pending LONG @ 7020 no sl tp+3
SHORT triggered
  • #557
  • Oct 24, 2022 9:53am Oct 24, 2022 9:53am
Quoting Waveskierrob
{quote} LONG triggered 7020
LONG tp hit +3
  • #558
  • Oct 24, 2022 9:54am Oct 24, 2022 9:54am
Quoting Waveskierrob
{quote} SHORT triggered
SHORT again no sl no tp @ 7020
  • #559
  • Oct 24, 2022 9:57am Oct 24, 2022 9:57am
Quoting Agro
{quote} I agree!. Just for day to day order entry. Should have the function to be able to overeide or set to different perameters eg. get out when BE, get out when x% loss/gain, get out when I define...
have u looked at this?

https://www.mql5.com/en/market/produ...Free+Rating006
trading is like dancing, don't think and just listen to the music!
  • #560
  • Oct 24, 2022 10:07am Oct 24, 2022 10:07am
Maybe something like this EA

  1. Starts with random Buy / Sell (either pending or market) no SL TP A pips
  2. Enter winning direction again at B plus entry (B could be 1 x A (immidiate reentry) or anything else)
  3. Once reach C x A on losing trade enter averaging trade (C could be any multiple of A eg 2xA for a gap)
  4. Options to close losing trade at BE, C profit, when I feel like it
  5. EA shows current start trade profit/loss
  6. Resets when flat or put 1:1 hedge (choose close all trades or 1:1 hedge to pause position)
  7. Starts again when flat or remove hedge

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