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Hedging/averaging trades without prediction

  • #821
  • Oct 27, 2022 6:38am Oct 27, 2022 6:38am
SHORT@1596, tp20
trading is like dancing, don't think and just listen to the music!
  • #822
  • Oct 27, 2022 6:39am Oct 27, 2022 6:39am
LONG@ 1606, no TP
trading is like dancing, don't think and just listen to the music!
  • #823
  • Oct 27, 2022 6:40am Oct 27, 2022 6:40am
Quoting Strykes
{quote} I deleted [2 sell] at the bottom (2) and left the remaining on - moved original TP at (10) further up in the hopes it's easier to hit. Thought it'd be an UP day today for DE40, guess I was wrong. Anyways updated TP for all sells got hit. Now waiting for price to move up to TP my buy trades and re-think my hedging strategy. Probably no sells, and if I do, it'll be low lot size and small TP. I do have pending buy above congested price zone to make back some of my losses from my loss sell trades earlier. {image}
So buys finally hit. Hedging DONE!!!

Added more additional [3 buy stops] at (12) (13) (14) as price went up. All hit. I was thinking, should I have placed TP at (14) where resistance is? But then I thought, make TP easy to reach and get this trade over and done with! Typing this now, price did actually push above resistance but....whatever. In the last few days of hedging DE40, I have +$25. Broke-even on my last set of buys. I still don't know how to get pips made for cTrader, but whatever.

Going forward, a lot of re-thinking for hedging needed. I only added more buys because I felt like news would push prices up (which it did), but...what if price actually went further down? All those added buys would've carried over for the next few days/weeks or something.

1. I think I need to limit total trades to not get out of control drawdowns.
2. Reduce to day-trading rather than having open trades for multiple days. Price can trend way too much and it actually gives me a headache with a bunch of buy / sell lines everywhere.
3. Still trade with buy/sell and TP with price action (Lower High / HH / support / resistance...it's only thing I understand) ... so I don't get trapped with sells at the bottom and buys at the top
4. To be continued.......I probably have more ideas but it's just buried inside my head and I can't think right now lol
Attached Image (click to enlarge)
Click to Enlarge Name: hedge1.png Size: 148 KB
  • #824
  • Oct 27, 2022 6:46am Oct 27, 2022 6:46am
LONG@1614, no tp
trading is like dancing, don't think and just listen to the music!
  • #825
  • Oct 27, 2022 6:50am Oct 27, 2022 6:50am
SHORT@ 1594, no TP
trading is like dancing, don't think and just listen to the music!
  • #826
  • Oct 27, 2022 6:50am Oct 27, 2022 6:50am
Quoting Strykes
{quote} So buys finally hit. Hedging DONE!!! Added more additional [3 buy stops] at (12) (13) (14) as price went up. All hit. I was thinking, should I have placed TP at (14) where resistance is? But then I thought, make TP easy to reach and get this trade over and done with! Typing this now, price did actually push above resistance but....whatever. In the last few days of hedging DE40, I have +$25. Broke-even on my last set of buys. I still don't know how to get pips made for cTrader, but whatever. Going forward, a lot of re-thinking for hedging...
Suggestion maybe just trade one pair, while learning I suggest EU as it has small spread but moves around nicely, I'm probably at fault with my live trades as I was trying to show that it can be used on other pairs and indices, sometime trades can be underwater for weeks ( something to get use to), but well done for today you're gaining valuable experience...
  • #827
  • Oct 27, 2022 6:57am Oct 27, 2022 6:57am
SHORT @1591, no tp
trading is like dancing, don't think and just listen to the music!
  • #828
  • Oct 27, 2022 6:58am Oct 27, 2022 6:58am
cancel all TPs
trading is like dancing, don't think and just listen to the music!
  • #829
  • Oct 27, 2022 7:06am Oct 27, 2022 7:06am
3x pending buy stop@1620, no tp
trading is like dancing, don't think and just listen to the music!
  • #830
  • Oct 27, 2022 7:16am Oct 27, 2022 7:16am
Quoting birdland
3x pending buy stop@1620, no tp
id didt work out, now i have saved it into a hedge and will come back tomorrow.

what i have learnt is that so late in the day i will not start a trading sequency, there is not enough time to fix the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1.png Size: 38 KB
trading is like dancing, don't think and just listen to the music!
  • #831
  • Oct 27, 2022 7:17am Oct 27, 2022 7:17am
2nd day:

TP 5 or manually closed before
Still no SL

34 green closed trades total: 145$ profit
4 red trades open: -117$ running (one i double down again, definitely a no no, stupid as hell). Should be -87$ without the double down.

Without the double down and excluding a red trade that is -1$, i let 2 run away from me this time for 80$
Green overall again, but i definitely have a runaway trades problem and i will not double down ever again

I miss the way to manage this runaway trades, it seems stupid in hindsight but in the moment they happen
  • #832
  • Oct 27, 2022 7:18am Oct 27, 2022 7:18am
Quoting Waveskierrob
{quote} Suggestion maybe just trade one pair, while learning I suggest EU as it has small spread but moves around nicely, I'm probably at fault with my live trades as I was trying to show that it can be used on other pairs and indices, sometime trades can be underwater for weeks ( something to get use to), but well done for today you're gaining valuable experience...
No no no no no....no way you're at fault here. You showing your trades is fantastic, not just for me but probably for a bunch of others here! If anything, being in 'the deep end and swim yourself out' so to speak is a very good way of learning. I would say Indices are a little bit annoying because markets are only opened for a few hours a day. Can't trade off-hours cause either market doesn't move and/or spread is extremely high. If I had to trade and hedge long-term on Indices, it'd need to be market open on a 1min/5min charts kinda thing (at least I think anyways).

Yea I'll test out EU. For some reason I keep avoiding it, usually played with GU, GJ, AJ or more 'volatile' (and higher spread) currencies before.
  • #833
  • Oct 27, 2022 7:23am Oct 27, 2022 7:23am
oh but it needs a big pair, because at times it seemed like i was going down in flames
  • #834
  • Oct 27, 2022 7:39am Oct 27, 2022 7:39am
Quoting birdland
{quote} id didt work out, now i have saved it into a hedge and will come back tomorrow. what i have learnt is that so late in the day i will not start a trading sequency, there is not enough time to fix the trade. {image}
In hindsight it's obvious that we buy and sell at the wrong moments.
1.02^200
  • #835
  • Oct 27, 2022 10:57pm Oct 27, 2022 10:57pm
2xSHORT@1549, no tp
trading is like dancing, don't think and just listen to the music!
  • #836
  • Oct 27, 2022 11:14pm Oct 27, 2022 11:14pm
2xSHORT@1543, no tp
trading is like dancing, don't think and just listen to the music!
  • #837
  • Oct 27, 2022 11:16pm Oct 27, 2022 11:16pm
2xSHORT@1538, no tp
trading is like dancing, don't think and just listen to the music!
  • #838
  • Oct 27, 2022 11:30pm Oct 27, 2022 11:30pm
TRADE 43....EU...SHORT 9970 no slntp +5
  • #839
  • Oct 27, 2022 11:38pm Oct 27, 2022 11:38pm
Quoting Waveskierrob
TRADE 43....EU...SHORT 9970 no slntp +5
TRADE 43 SHORT tp hit + 5......total +553
  • #840
  • Oct 28, 2022 12:02am Oct 28, 2022 12:02am
TRADE 44 ....GU.....SHORT @ 11530 no sl tp+3
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