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Hedging/averaging trades without prediction

  • #761
  • Edited 4:10pm Oct 26, 2022 1:15pm | Edited 4:10pm
tried this today (demo account) this was the result, 33 green, 2 red

The 2 red are still open (-44$) but i don't have much faith in them, running , it was buying cadchf just before the BoC screwed me, i was oblivious that i even double down

Greens made 109$

I put a TP of 5 pips in all of them and sometimes i manually close when i'm not very sure. No SL ever (probably a mistake)
  • #762
  • Oct 26, 2022 2:03pm Oct 26, 2022 2:03pm
Quoting Polimini
tried this today (demo account) this was the result, 33 green, 2 red The 2 red are still open (-44$) but i don't have much faith in them, running , it was buying cadchf just before the BoC screwed me, i was oblivious that i even double down Greens made 109$ I put a TP of 5 pips in all of them and sometimes i manually close when i'm not very sure. No TP ever (probably a mistake)
Good on yea, close the -44 if you want there are no hard and fast rules, it's all about you being in control of your trading not some made up rules you hear time after time again on these forums, please keep posting, maybe jump in the deep end and post some live trades, no one is going to judge you...except Leona but she hates everyone...
  • #763
  • Oct 26, 2022 4:10pm Oct 26, 2022 4:10pm
Quoting Waveskierrob
{quote} Good on yea, close the -44 if you want there are no hard and fast rules, it's all about you being in control of your trading not some made up rules you hear time after time again on these forums, please keep posting, maybe jump in the deep end and post some live trades, no one is going to judge you...except Leona but she hates everyone...
it's still a demo, so i have nothing to lose, maybe it will turn, a 100% positive day would be awesome. Thanks for the encouragement. Keep up the topic.
I'm thinking of trying with a SL tomorrow, there was a mistake there i wanted to say no SL ever.
  • #764
  • Oct 26, 2022 7:39pm Oct 26, 2022 7:39pm
Quoting d5400
{quote} Sitting on thumbs. Another wall climbed . Hurt more, learn more.
Out at BE.
1.02^200
  • #765
  • Oct 26, 2022 11:24pm Oct 26, 2022 11:24pm
Anyone help me? I've been *DEMO* hedging with success most of the time - trades would open and close for a few hours which was easy to manage. Then came DE40, where I am struggling to unhedge sells at the bottom. Added more sells in hopes to get better breakeven TP, but price kept going up which increased my drawdown. I could add sells now, but what if price goes up again?

1. Mostly sell trades, trade with trend.
2. Outstanding sells
3. Switch to [1 BUY] (with [2 SELL] still opened so drawdowns increased exponentially) (was hoping price would go down at any time)
4. Buys averaged out with pending sells just below TP (hoping price would go down further). Lucky it didn't hit
5. Buys averaged out.
6. Buy / sell trades with small TP
7. Outstanding sells at the bottom, again
8. Buys TP'ed. Switched to 1 sell at the top of the range. Hoping price went down. Increased my average down TP for sell trades.
9. Pending buy trades above resistance (no TP/SL) to hedge my sells since I was sleeping. All were hit.
10. TP at breakeven for all sell orders.
11. Opened trades = -$1184.06. Closed trades = +$368.72. If I close all open trades = net LOSS -$815.34

What would you do?
1. Take small TP buy/sells?
2. Sell more to increase breakeven TP?
3. Take a loss on the [2 SELL] at (2)?
4. Should I have increased from [1 BUY] to [2 BUY] at (3) to counter my [2 SELL] at (2)? (Though it would increase drawdowns if price reversed again and again).
5. None of the above?

Also what recommendations to avoid this type of large outstanding sells in the future?
Attached Image (click to enlarge)
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  • #766
  • Oct 26, 2022 11:48pm Oct 26, 2022 11:48pm
Quoting Strykes
Anyone help me? I've been *DEMO* hedging with success most of the time - trades would open and close for a few hours which was easy to manage. Then came DE40, where I am struggling to unhedge sells at the bottom. Added more sells in hopes to get better breakeven TP, but price kept going up which increased my drawdown. I could add sells now, but what if price goes up again? 1. Mostly sell trades, trade with trend. 2. Outstanding sells 3. Switch to [1 BUY] (with [2 SELL] still opened so drawdowns increased exponentially) (was hoping price would go...
i have this problem also.

my solution is not to average more than 2-3 times. if that is not working out i will open the opposit side to ballance out and be hedged. then i start digging myself out of the hole.;-)
trading is like dancing, don't think and just listen to the music!
  • #767
  • Oct 27, 2022 12:15am Oct 27, 2022 12:15am
Quoting Strykes
Anyone help me? I've been *DEMO* hedging with success most of the time - trades would open and close for a few hours which was easy to manage. Then came DE40, where I am struggling to unhedge sells at the bottom. Added more sells in hopes to get better breakeven TP, but price kept going up which increased my drawdown. I could add sells now, but what if price goes up again? 1. Mostly sell trades, trade with trend. 2. Outstanding sells 3. Switch to [1 BUY] (with [2 SELL] still opened so drawdowns increased exponentially) (was hoping price would go...
This will happen, good to experience it now, just keep hedging maybe put a pending hedge on....With all of your trades are you overall in profit or loss?
  • #768
  • Oct 27, 2022 12:35am Oct 27, 2022 12:35am
Quoting birdland
{quote} i have this problem also. my solution is not to average more than 2-3 times. if that is not working out i will open the opposit side to ballance out and be hedged. then i start digging myself out of the hole.;-)
I was thinking about that ... At first adding on sells seemed like nothing. Then before I knew it I had 6 - 8 sell trades opened lol.
  • #769
  • Oct 27, 2022 12:41am Oct 27, 2022 12:41am
Quoting Waveskierrob
{quote} This will happen, good to experience it now, just keep hedging maybe put a pending hedge on....With all of your trades are you overall in profit or loss?
Opened trades = -$1184.06. Closed trades = +$368.72. If I close all open trades = net LOSS -$815.34

Net loss mainly because I had [2 sells] at the very bottom but kept opening [1 buy] as my hedge. Then there were times where I had no [buy] opened in the hopes price went down. But price kept going up.

When you say pending hedge, you mean buy or sell? Maybe I should stop adding on sell orders and only buy? Really don't want to go martingale route to breakeven my sells though.

Again lucky is demo, but I still want to close all trades in profit / Breakeven.
  • #770
  • Oct 27, 2022 12:49am Oct 27, 2022 12:49am
Quoting Strykes
{quote} Opened trades = -$1184.06. Closed trades = +$368.72. If I close all open trades = net LOSS -$815.34 Net loss mainly because I had [2 sells] at the very bottom but kept opening [1 buy] as my hedge. Then there were times where I had no [buy] opened in the hopes price went down. But price kept going up. When you say pending hedge, you mean buy or sell? Maybe I should stop adding on sell orders and only buy? Really don't want to go martingale route to breakeven my sells though. Again lucky is demo, but I still want to close all trades in profit...
You said that most of the time you've had success so overall, not just your D40 are you in profit or loss
  • #771
  • Oct 27, 2022 1:06am Oct 27, 2022 1:06am
GU random hedge opened, tp4
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trading is like dancing, don't think and just listen to the music!
  • #772
  • Oct 27, 2022 1:08am Oct 27, 2022 1:08am
Quoting birdland
GU random hedge opened, tp4 {image}

Go for it Bird. Trade well. yaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #773
  • Oct 27, 2022 1:11am Oct 27, 2022 1:11am
Quoting birdland
GU random hedge opened, tp4 {image}
+4
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trading is like dancing, don't think and just listen to the music!
  • #774
  • Oct 27, 2022 1:15am Oct 27, 2022 1:15am
Quoting birdland
{quote} +4 {image}
SHORT , tp4
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trading is like dancing, don't think and just listen to the music!
  • #775
  • Oct 27, 2022 1:23am Oct 27, 2022 1:23am
Quoting birdland
{quote} SHORT , tp4 {image}
+4
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trading is like dancing, don't think and just listen to the music!
  • #776
  • Oct 27, 2022 1:27am Oct 27, 2022 1:27am
SHORT again to complete hedge, tp 4
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trading is like dancing, don't think and just listen to the music!
  • #777
  • Oct 27, 2022 1:31am Oct 27, 2022 1:31am
start averaging, LONG@1610, tp 14
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trading is like dancing, don't think and just listen to the music!
  • #778
  • Oct 27, 2022 1:33am Oct 27, 2022 1:33am
Quoting birdland
SHORT again to complete hedge, tp 4 {image}
+4
trading is like dancing, don't think and just listen to the music!
  • #779
  • Oct 27, 2022 1:35am Oct 27, 2022 1:35am
SHORT@1599, no tp
LONG@1600, tp 22
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trading is like dancing, don't think and just listen to the music!
  • #780
  • Oct 27, 2022 1:38am Oct 27, 2022 1:38am
Quoting Waveskierrob
{quote} You said that most of the time you've had success so overall, not just your D40 are you in profit or loss
Overall loss in dollars. But gains in pips. Because smallest lot size is 0.01 for EU and GU versus 1.00 lot for DE40. I guess I could even out the pips per dollar amount throughout my entire trades to standardise my hedge wins. Never really thought of that before.

But yeah, overall is LOSS for dollar amount.
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