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Mathematical hedging strategy without a stop loss 22 replies

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

Quoting Waveskierrob
{quote} Thanks .....when and where is just when I feel, there is no % or certain amount of pips, that's something you need to figure out by yourself by practicing on demo, hence why the trades I post are random, open both directions, open one direction, sometimes pending, sometimes put hedge on straight away, sometime no tp, I've tried to mix it up a bit just to show different ways, it's just a tool maybe you can use parts to help with your own trading ....hope this helps...
Hello ppls.
This what Wave say here is just like i do it "slice from all", depend from my mood, weather outside, time how i have to play with fx...
I dont use any indies, my only is MM.
When dont have time to watch positions, placing pendings and TPs, hedging... On another way, when i have time for beer and chips, i put all my four up on armchair and watch how price dance on chart like football game and harvesting pips.
This from today sesion (for visual guys here, i seen here is enough ppls who dont understand Waves and Birds txt placements, so hope will be my 2cents).
I have today lot of free time to watch on graph while brewing beer at home, so no TPs and pendings... some hedging at end to dig out from hole.
Enjoy! Cheers!
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Quoting Waveskierrob
{quote} Yes you did, but I thought I would have a battle wits with him but he came unarmed...
Good afternoon.
I'm sorry, but it's been difficult for me to understand this strategy. You can be more explained.
Regards
Julio Bento
Quoting jjibl
{quote} Good afternoon. I'm sorry, but it's been difficult for me to understand this strategy. You can be more explained. Regards Julio Bento
Sorry again it's not a strategy it's a tool to use with your own strategy, may get you out of a hole, I can't really explain you have to experience it yourself through practice, look back and study some of the live trades that have been posted, then try it out, no set rules, no entry or exit prices, once you've tried come back with any questions ...
Soon To Be Temporarily Suspended Again
  • Post #1,244
  • Quote
  • Edited Nov 10, 2022 4:31am Nov 9, 2022 6:13pm | Edited Nov 10, 2022 4:31am
I've been following this thread closely for a while as I love unorthodox strategies especially pertaining to hedging. I wrote a special set of CloseAllOrder scripts to help us out.

What is OrderCloseBy()?
It is a function that closes two opposite tickets, saving on spread and commission. If you were to close both tickets normally, you would incur double spread and commission. If you do any kind of hedging, you would want to use this function to effectively halve those costs.

This function is also present in the MT4/MT5 close order panel.

What is this?
It is a collection scripts for MT4 that:

  1. Resolves opposite tickets using OrderCloseBy().
  2. Closes remaining open orders
  3. Closes pending orders

in this order.

Why do I need this?
To halve your spread and commissions on hedges!

How do I use this?
Drop the script onto the chart. It will only work on that symbol. Conversely, you can set a hotkey to initiate the script.

Scripts

  1. CloseAll - Closes all hedges, open and pending orders.
  2. CloseOpen - Closes all hedges and open orders.
  3. CloseHedge - Closes all hedges only.

The ones with "Magic" are the same scripts but filtered by a specified Magic Number. Hope you like them!

Attached File(s)
File Type: mq4 CloseAll - Cliff Jaded.mq4   24 KB | 52 downloads
File Type: mq4 CloseAllMagic - Cliff Jaded.mq4   24 KB | 36 downloads
File Type: mq4 CloseHedge - Cliff Jaded.mq4   20 KB | 40 downloads
File Type: mq4 CloseHedgeMagic - Cliff Jaded.mq4   21 KB | 38 downloads
File Type: mq4 CloseOpen - Cliff Jaded.mq4   22 KB | 41 downloads
File Type: mq4 CloseOpenMagic - Cliff Jaded.mq4   22 KB | 62 downloads
Leave the Gun, Take the Armani
Quoting cliffjaded
I've been following this thread closely for a while as I love unorthodox strategies especially pertaining to hedging. I wrote a special set of CloseAllOrder scripts to help us out. What is OrderCloseBy()? It is a function that closes two opposite tickets, saving on spread and commission. If you were to close both tickets normally, you would incur double spread and commission. If you do any kind of hedging, you would want to use this function to effectively half those costs. This function is also present in the MT4/MT4...
Many thanks for this...
Soon To Be Temporarily Suspended Again
Quoting cliffjaded
I've been following this thread closely for a while as I love unorthodox strategies especially pertaining to hedging. I wrote a special set of CloseAllOrder scripts to help us out. What is OrderCloseBy()? It is a function that closes two opposite tickets, saving on spread and commission. If you were to close both tickets normally, you would incur double spread and commission. If you do any kind of hedging, you would want to use this function to effectively half those costs. This function is also present in the MT4/MT4...
yes, from me also many thanks for the scripts and your work!
I know that you and I know nothing.
Quoting jjibl
{quote} Good afternoon. I'm sorry, but it's been difficult for me to understand this strategy. You can be more explained. Regards Julio Bento
look what i did yesterday was stupid averaging (but it will work)

at point 1 i started to buy with TP5, but it didnt hit my TP. so i opened a buy on 2. but the market kept falling. so in continued to open LONGS at 3, 4, etc...

the secred is i did it only with 0.01 lots. i can do that with a balance already at 600.

and it will hit TP hopefully today with an expected 51 pip profit.

this is averaging. and what we are here doing we combine averaging with hedging. and this is a work in progress...
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I know that you and I know nothing.
Quoting birdland
{quote} look what i did yesterday was stupid averaging (but it will work) at point 1 i started to buy with TP5, but it didnt hit my TP. so i opened a buy on 2. but the market kept falling. so in continued to open LONGS at 3, 4, etc... the secred is i did it only with 0.01 lots. i can do that with a balance already at 600. and it will hit TP hopefully today with an expected 51 pip profit. this is averaging. and what we are here doing we combine averaging with hedging. and this is a work in progress... {image}
If you have a plan to work through these; they are the most profitable outcomes. It's uncomfortable at times but sorts the men from the boys.
I'll also add extra orders before the turn (normally from the 5th or 6th position), either with a trailing stop or a fixed tp depending what mood i'm in.. key is not be greedy or fearful. Patience wins.
Quoting cliffjaded
I've been following this thread closely for a while as I love unorthodox strategies especially pertaining to hedging. I wrote a special set of CloseAllOrder scripts to help us out. What is OrderCloseBy()? It is a function that closes two opposite tickets, saving on spread and commission. If you were to close both tickets normally, you would incur double spread and commission. If you do any kind of hedging, you would want to use this function to effectively half those costs. This function is also present in the MT4/MT4...
Excellent work. I use closeby. Thank you!
Two or 3 rounds there.
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Pip Student
Quoting birdland
{quote} look what i did yesterday was stupid averaging (but it will work) at point 1 i started to buy with TP5, but it didnt hit my TP. so i opened a buy on 2. but the market kept falling. so in continued to open LONGS at 3, 4, etc... the secred is i did it only with 0.01 lots. i can do that with a balance already at 600. and it will hit TP hopefully today with an expected 51 pip profit. this is averaging. and what we are here doing we combine averaging with hedging. and this is a work in progress... {image}
so averaging outcome was good. patience is the key AND small lots... CPI numers did the rest;-)
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I know that you and I know nothing.
so many trades on the way up in seconds...sorry, cant post so fast;-)
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I know that you and I know nothing.
take your time and watch this guy, it is brilliant and it has a lot to do with our style here we are trading but different

he is showing it realtime

Inserted Video


he has also other videos interesting to watch
I know that you and I know nothing.
Good job bird. Will give the video a watch. Target was reached this morning so did not trade anymore today.
Pip Student
Quoting birdland
take your time and watch this guy, it is brilliant and it has a lot to do with our style here we are trading but different he is showing it realtime https://www.youtube.com/watch?v=6ElU5vJhz9A he has also other videos interesting to watch
Yeah I've seen quite a few of Shawns vids and also traded it. Today on GU he would've been blown to Mars and back though.. I would love to see todays trading but I suspect we never will...!

You have to scale way, way down if you are trading it every day because you will get blown out otherwise. This looks quite skilful but in reality its just down to lady luck and the market behaving how you want it to which it does, for awhile and then throws the toilet at you..

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You need to work out the "wobble" layers, lot size and trade numbers plus max loss (walk of shame). Good fun to play with but you can't scale up unlike what you have done today where you can scale millions...
Quoting Fagin
{quote} Yeah I've seen quite a few of Shawns vids and also traded it. Today on GU he would've been blown to Mars and back though.. I would love to see todays trading but I suspect we never will...! You have to scale way, way down if you are trading it every day because you will get blown out otherwise. This looks quite skilful but in reality its just down to lady luck and the market behaving how you want it to which it does, for awhile and then throws the toilet at you.. {image} You need to work out the "wobble" layers, lot size...
good info fagin, thx!

yes shawn could have blown today. but have you watched him taking the FOMC challenge live? it was similar to today and he came out good in the end.

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i think he "wobbles" or averages and hedge, always with small TPs and knows what he is doing.

but would love to see new videos about him. i think he is authentic.
I know that you and I know nothing.
Quoting birdland
{quote} good info fagin, thx! yes shawn could have blown today. but have you watched him taking the FOMC challenge live? it was similar to today and he came out good in the end. https://www.youtube.com/watch?v=HysIBKjNbQA i think he "wobbles" or averages and hedge, always with small TPs and knows what he is doing. but would love to see new videos about him. i think he is authentic.
No I've not seen it and will have a look. I like him and also agree he is authentic although anyone selling courses gets a red card from me I'm afraid..

The thing about this is when you get in front with your equity, lets say this week and you have 3 winning days you can afford to "portion" your profit and risk that. So if Shawn has made 1k per day for ten days that's when you can trade like him and risk 1k max position, then it doesn't matter if he blows it as long as he is "in front"...
already trading because we have red news in one hour and enough volatility;-)

random LONG/[email protected], tp5
I know that you and I know nothing.
Quoting birdland
already trading because we have red news in one hour and enough volatility;-) random LONG/[email protected], tp5
long+5
I know that you and I know nothing.
[email protected], tp5
I know that you and I know nothing.
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