Grid Hedging

Made 9% on FOMC US100 and then later JPY news USDJPY. Was mostly hedged until the event. In both cases I expected downside, preceded by upside. The result looks like a bunch of trades inside a triangle. Yes, I started in the middle of expected range and then faded every upside rally. A few minutes before the event I was completely hedged. Market obliged by surging upwards, I closed longs, then it plummeted, I closed shorts.

I continue practicing this some kind of grid hedging technique. I guess these are just drills to internalize price action. But as a way to just come in at any time and make a little money without waiting for extremes, it is just fine.

Find ATR(100) on D1. Divide by 20. That's your target. if AUDUSD ATR(100) is 97, then your target is 5 pips (50 points)
Find spread+commission. For AUDUSD it's 7 points.
I prefer non-random entries. Currently using currency strength on m5.
Position size: estimate 3 times averaging down on 1/10 of ATR(100), with max 2.5% DD. That's basically dividing 2.5%DD by 7, risking 0.35% per 1/10 ATR(100) movement.
So position size for AUDUSD is 0.35% per 10 pips (or 100 points)

Enter short with TP +5. if moves against you by 100 + spread + commission (107 points), enter another
Moves against you another 107 points, enter another.
Now watch. When last short goes in profit, enter long with +5 TP.
From now on, play longs and shorts on 107 point grid.

But ideally, your first 2 entries hit your target. Otherwise it's work.