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Hedging/averaging trades without prediction

  • #1,361
  • Nov 24, 2022 8:25am Nov 24, 2022 8:25am
pending SHORT 8585 no sl tp +3
  • #1,362
  • Nov 24, 2022 8:37am Nov 24, 2022 8:37am
Quoting Waveskierrob
pending SHORT 8585 no sl tp +3
SHORT triggered
  • #1,363
  • Nov 24, 2022 8:39am Nov 24, 2022 8:39am
nice trading wave!

EG is definitely a better pair to trade than jumping GU;-)

i am "addicted" to GU, but this way of trading (hedging&averaging) will think me about...

by the way there is one guy in the "trading is a s simple as 1-2-3" thread called "hal7" and he loved to trade successfully the ever-ranging EG for +5.
trading is like dancing, don't think and just listen to the music!
  • #1,364
  • Nov 24, 2022 8:44am Nov 24, 2022 8:44am
Quoting birdland
nice trading wave! EG is definitely a better pair to trade than jumping GU;-) i am "addicted" to GU, but this way of trading (hedging&averaging) will think me about... by the way there is one guy in the "trading is a s simple as 1-2-3" thread called "hal7" and he loved to trade successfully the ever-ranging EG for +5.
Cheers will check that thread out ......have you gone live now? if so how are you doing
  • #1,365
  • Nov 24, 2022 9:16am Nov 24, 2022 9:16am
Quoting Waveskierrob
{quote} Cheers will check that thread out ......have you gone live now? if so how are you doing
yes i went live but with my main account. then i realized that the order size was too big for averaging, BUT good for hedging.
so i am trading my old style but combined it with hedging what i learned here.


if i would trade including averaging like i did with my demo account i would start with a 100-200 account and trade not GU, but only currencies like EG, AN or ECH. pairs of countries with similar economy and close cooperation. longterm ranging currency-pairs.
trading is like dancing, don't think and just listen to the music!
  • #1,366
  • Nov 24, 2022 9:18am Nov 24, 2022 9:18am
Quoting Waveskierrob
{quote} SHORT triggered
Closed SHORT @ 85834 +1
  • #1,367
  • Nov 24, 2022 9:22am Nov 24, 2022 9:22am
added LONG @ 8583 no sl no tp ....pending SHORT @ 8580 no sl tp +3
  • #1,368
  • Nov 24, 2022 9:26am Nov 24, 2022 9:26am
Quoting Waveskierrob
added LONG @ 8583 no sl no tp ....pending SHORT @ 8580 no sl tp +3
SHORT triggered
  • #1,369
  • Nov 24, 2022 9:29am Nov 24, 2022 9:29am
Quoting Waveskierrob
{quote} SHORT triggered
SHORT tp hit +3
  • #1,370
  • Nov 24, 2022 9:34am Nov 24, 2022 9:34am
added LONG @ 8573 no sl no tp
  • #1,371
  • Nov 24, 2022 9:41am Nov 24, 2022 9:41am
Long taken eg 8578 5 TP
Short Pending eg 8569 5 tp
Pip Student
  • #1,372
  • Nov 24, 2022 9:43am Nov 24, 2022 9:43am
Two weeks on GU

Gross Profit: 274 691.71 Gross Loss: 158 177.25 Total Net Profit: 116 514.46
Profit Factor: 1.74 Expected Payoff: 102.48
Absolute Drawdown: 6 408.04 Maximal Drawdown: 49 290.96 (23.81%) Relative Drawdown: 23.81% (49 290.96)

Total Trades: 1137 Short Positions (won %): 660 (79.09%) Long Positions (won %): 477 (84.49%)
Profit Trades (% of total): 925 (81.35%) Loss trades (% of total): 212 (18.65%)
Largest profit trade: 16 922.76 loss trade: -14 597.51
Average profit trade: 296.96 loss trade: -746.12
Maximum consecutive wins ($): 93 (18 508.38) consecutive losses ($): 22 (-627.94)
Maximal consecutive profit (count): 63 107.96 (78) consecutive loss (count): -49 290.96 (4)
Average consecutive wins: 12 consecutive losses: 3
Pip Student
  • #1,373
  • Nov 24, 2022 9:46am Nov 24, 2022 9:46am
Staying demo tendency to get too heavy in close short space need keep lotsizers smaller and wider pip distance.
Pip Student
  • #1,374
  • Nov 24, 2022 10:02am Nov 24, 2022 10:02am
BUY added EG added 8575 no tp
Pip Student
  • #1,375
  • Nov 24, 2022 10:13am Nov 24, 2022 10:13am
Quoting apples1978
Long taken eg 8578 5 TP Short Pending eg 8569 5 tp
Out for 2 pips net. Short pending removed.
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Pip Student
  • #1,376
  • Nov 24, 2022 4:10pm Nov 24, 2022 4:10pm
Closed all LONGS @ 8592 -18, -4, +9, +19 = +6
  • #1,377
  • Nov 24, 2022 4:12pm Nov 24, 2022 4:12pm
Trade 57 +18......running total = +711
  • #1,378
  • Nov 25, 2022 3:43am Nov 25, 2022 3:43am
one guy, called davit, opened a very good thread years ago about averaging. he is an absolute expert in this:
https://www.forexfactory.com/thread/...6#post14228576
trading is like dancing, don't think and just listen to the music!
  • #1,379
  • Edited 11:30am Nov 25, 2022 6:56am | Edited 11:30am
So, I've read through all 46 pages of this thread.. and not to be an ass, but I'm not quite sure why folks are still insistent on posting TA, indicators, PA, etc...to determine the directionality of the market prior to opening a hedge trade, or write long posts about "market structure" and the "correct" way of hedging and averaging.

A perfect summation of how Rob successfully trades is from Rob himself (Rob's post from 2021 on the GBPUSD thread):

"... MM and patience,...big bank, small lots and KISS (keep it stupidly simple)", and the success of this approach Rob has shown repeatedly in the GBPUSD thread, as well as the random trades posted in this thread.

One highly successful professional trader from the past (philmcgrew) stated it well (I'm paraphrasing): "good traders can make money betting on where a cow sh*ts in a field..", alluding that it's not the analysis that's important, but the MM.

Rob's approach is much in line with what nanningbob, Bilstein, and others described years ago (see link below). "KISS" is a hard concept to wrap your head around when your beliefs/biases are so wrapped up in the dogma that a profitable trader is one who can consistently predict where price is going to move...

https://www.forexfactory.com/thread/...out-a-stoploss


@Waveskierrob... I'm not stalking you, lol..

Dave
  • #1,380
  • Nov 25, 2022 7:28am Nov 25, 2022 7:28am
Quoting davelansing
So, I've read through all 46 pages of this thread.. and not to be an ass, but I'm not quite sure why folks are still insistent on posting TA, indicators, PA, etc...to determine the directionality of the market prior to opening a hedge trade, or write long posts about "market structure" and the "correct" way of hedging and averaging. A perfect summation of how Rob successfully trades is from Rob himself (Rob's post from 2021 on the GBPUSD thread): "... MM and patience,...big bank, small lots and KISS (keep it stupidly simple)". And he has shown the...
kuhfladenbingo or in english called "cow patty bingo" actually exists;-)
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trading is like dancing, don't think and just listen to the music!
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