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Hedging/averaging trades without prediction

  • #1,861
  • Jan 6, 2023 2:01am Jan 6, 2023 2:01am
Quoting Waveskierrob
TRADE 71 DJIA .....SHORT @ 32948 no sl tp +10
DJIA SHORT tp hit +10
  • #1,862
  • Jan 6, 2023 2:01am Jan 6, 2023 2:01am
Quoting Waveskierrob
TRADE 71 DJIA .....SHORT @ 32948 no sl tp +10
TRADE 71 total +10.........running total 1894
  • #1,863
  • Jan 9, 2023 3:29am Jan 9, 2023 3:29am
Started Live today!
Trading only GU and stopped after hitting 115.9 Pips after comission

Trades taken this morning:

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Trade summary:

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131.6 pips before comission.

Not a bad start at all

Almost the same trades on demo. But traded furthermore after stopping on live...
Demo Account gained around 300 pips on GU and around 94 pips on gold.
  • #1,864
  • Jan 9, 2023 5:06am Jan 9, 2023 5:06am
Quoting Mr.Moe
Started Live today! Trading only GU and stopped after hitting 115.9 Pips after comission Trades taken this morning: {image} Trade summary: {image} 131.6 pips before comission. Not a bad start at all Almost the same trades on demo. But traded furthermore after stopping on live... Demo Account gained around 300 pips on GU and around 94 pips on gold.
Good Job Mr Moe.... your results are encouraging. I have your fxbook page opened and the results are very impressing

Pls keep sharing
  • #1,865
  • Jan 9, 2023 6:55am Jan 9, 2023 6:55am
Couldn't resist....
Made another 36.8 net pips on EURCHF...

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But now... End of trading!
Trade summary of today:

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See you tomorrow!

PS: For those who not follow my myfxbook demo...
Summary of today:

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  • #1,866
  • Jan 10, 2023 5:33am Jan 10, 2023 5:33am
Slow morning and couldn't trade as much I normally do..... but consistent.

Live acc. summary:
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Trades:
GU:
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Gold:
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Demo account is still running
  • #1,867
  • Jan 10, 2023 6:28am Jan 10, 2023 6:28am
Demo acc. done for today!

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  • #1,868
  • Jan 11, 2023 3:08am Jan 11, 2023 3:08am
slow morning again
but better save than sorry and a little bit of profit banked so far.

summary for the morning session:
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Trades on GU:
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  • #1,869
  • Jan 11, 2023 4:44am Jan 11, 2023 4:44am
Hello Mr.Moe could you provide any details on what made you go with this Trading startegy.. and what are the limitations u ever encountered.

I'm a beginner and i am doing only this type of hedging:
1. I'm opening a buy/sell with a low spread pair and I'm letting it run for that level which may seem decisive.
2. I will be closing the profit running trade. And let the other trade go back like 20 - 25 pips. Atleast. Where i would be closing it.
3. During heavy volatility days ,or when there is news ahead,i am unable to clear my positions . And i was locking in more loss.


I know I'm a beginner. This might sound very amateur thing. But please let me know how i could improve more nd more .
  • #1,870
  • Jan 11, 2023 5:13am Jan 11, 2023 5:13am
Quoting Mr.Moe
slow morning again but better save than sorry and a little bit of profit banked so far. summary for the morning session: {image} Trades on GU: {image}
slow, but you are doing good;-) excellent work.

i am continuing my trading with this style and my daily traget are +100pips or above, then i stop trading.

and i have found a way not to hold positions overnight due to the swap fees and the risk included.

so far things are running nice...
trading is like dancing, don't think and just listen to the music!
  • #1,871
  • Jan 11, 2023 7:56am Jan 11, 2023 7:56am
Quoting HedgingEU
Hello Mr.Moe could you provide any details on what made you go with this Trading startegy.. and what are the limitations u ever encountered. I'm a beginner and i am doing only this type of hedging: 1. I'm opening a buy/sell with a low spread pair and I'm letting it run for that level which may seem decisive. 2. I will be closing the profit running trade. And let the other trade go back like 20 - 25 pips. Atleast. Where i would be closing it. 3. During heavy volatility days ,or when there is news ahead,i am unable to clear my positions . And i was...
Check my post here:

https://www.forexfactory.com/thread/...6#post14251726

I discover my limit right about now!
I should have stopped trading live, but I didn't because I had a look on EUR/CHF and thought there must be a retrace in play.... Now Iam down by 1500 pips and have to be very patient and have to wait for it to turn. But at the moment (and the whole day) it knows only one direction with almost no pullbacks at all. It does respect nothing at the moment, no BRN no previous resistant levels it just smashes through everything
  • #1,872
  • Jan 11, 2023 8:33am Jan 11, 2023 8:33am
I take away two blue eyes out of this box-fight!

Ending luckily positive on EURCHF...

This is how it looks like when your greed kicks in.... Or we can call it a heavy average party:

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Summary for today:
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End of trading today! Need to rest and need to clear my mind

What have I learned this afternoon?
- If I feel not comfortable to trade the present session or pair, DON'T TRADE!!!
- Have to control myself more in beeing not to greedy! When price moves against you, open positions in the direction and bank some small profits along the way. When volume starts to slow down, start to average out the losers!
- Always try to have enough margin in my backpack!!!

See you all tomorrow!
  • #1,873
  • Jan 11, 2023 9:22am Jan 11, 2023 9:22am
Quoting birdland
{quote} slow, but you are doing good;-) excellent work. i am continuing my trading with this style and my daily traget are +100pips or above, then i stop trading. and i have found a way not to hold positions overnight due to the swap fees and the risk included. so far things are running nice...
Thank you mate!
Good to hear, that you're nailing it and continuesly grab your 100 pips.
My personal target is pretty much the same! Gaining around 100-150 pips and stop for the day. Today was a mistake, lesson learned!

I also don't holding trades overnight! Swaps are killing everything!

If you don't mind, pls let me know your way to not hold positions overnight.
  • #1,874
  • Jan 11, 2023 11:21pm Jan 11, 2023 11:21pm
Quoting Mr.Moe
{quote} Thank you mate! Good to hear, that you're nailing it and continuesly grab your 100 pips. My personal target is pretty much the same! Gaining around 100-150 pips and stop for the day. Today was a mistake, lesson learned! I also don't holding trades overnight! Swaps are killing everything! If you don't mind, pls let me know your way to not hold positions overnight.
to avoid holding positions overnight, the most important thing is that i start early in the morning at frankfurt open. i have then enough time (9 hours) to get my +100.

then i use every technic: averaging, hedging, scale in and stop losses too.

the next important thing is that the day needs movement, i dont trade between christmas or on big bankholidays.

so far that is working for me. when i have a day in the future without +100, i will hedge the whole package overnight and start fresh on the new day.

and i avoid "stupid averaging", that means just average and hoping to get out BE.
it can destroy your account very fast. i did it in the beginning but learned fast that this is not my way. it was pure luck to come out good.
trading is like dancing, don't think and just listen to the music!
  • #1,875
  • Jan 12, 2023 1:44am Jan 12, 2023 1:44am
today it took 2h43min to get my daily target:
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trading is like dancing, don't think and just listen to the music!
  • #1,876
  • Jan 12, 2023 2:47am Jan 12, 2023 2:47am
Quoting birdland
today it took 2h43min to get my daily target: {image}
Nice One!!!!
Would you mind posting a Chart with your trades? Iam very curious how you entered 277 trades


Iam done for the day as well!
Slow session again...

Summary:
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In hindsight of the USD CPI News this afternoon Iam definately not trading until the news are out.
  • #1,877
  • Jan 12, 2023 3:17am Jan 12, 2023 3:17am
Quoting birdland
today it took 2h43min to get my daily target: {image}
Killing it buddy
  • #1,878
  • Jan 12, 2023 3:36am Jan 12, 2023 3:36am
Quoting Waveskierrob
{quote} 1. Nothing is set in stone 2. I'm not a guru but I do have some tools and ideas that may help 3. Please no predictions there are other threads for this 4. Try these ideas on DEMO for at least a month 5. BIG bank and trade the smallest lots you can 6. I work on average price and hedging 7. I don't use stoploss but do use target price 8. Market can move in any direction at anytime 9. Don't blame market or news, it is what it is 10. Concentrate on your equity as you bank profits early and let losses run, so profit and loss will mainly be in...
I'm testing your strategy and it seems it works very well. Slowly filling the pot and don't care about the market direction. Well done Waveskierrob
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  • #1,879
  • Jan 12, 2023 4:03am Jan 12, 2023 4:03am
Quoting Tronis
{quote} I'm testing your strategy and it seems it works very well. Slowly filling the pot and don't care about the market direction. Well done Waveskierrob {image} {image}
Many thanks for your kind words, it does take time and sometimes takes a long time digging yourself out of a hole, that's when the Patience Card is played...
  • #1,880
  • Jan 12, 2023 4:03am Jan 12, 2023 4:03am
Started buying and selling EURJPY. I'm testing this on demo for 3rd week now and thinking of going live now
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