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Hedging/averaging trades without prediction

  • #1,961
  • Jan 19, 2023 1:51am Jan 19, 2023 1:51am
Added $250 overnight, going for another round on same 3 pairs GU,EA and Gold
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  • #1,962
  • Jan 19, 2023 12:13pm Jan 19, 2023 12:13pm
strange day...
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trading is like dancing, don't think and just listen to the music!
  • #1,963
  • Jan 19, 2023 2:03pm Jan 19, 2023 2:03pm
Was not really a "move" day...
That's why I was jumping from pair to pair...

Overall gained 159 Pips.

GU:
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Gold:
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GJ:
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EU:
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Unfortunately, I have to stop live trading for a month or so due to a new main job Iam starting soon... That's why I have almost no screentime and I don't want my real money left unattended on the table. Better save than sorry!!!
Will be trading on demo and post my results here. And hopefully will be back on live at the end of february.
  • #1,964
  • Jan 19, 2023 7:36pm Jan 19, 2023 7:36pm
Quoting Waveskierrob
I will post live trades as they happen, but will start with some basics and build as time goes on, will write short posts as I know long posts put many off...
I have always been a fan of hedging. Unfortunately, being a US citizen subject to FIFO rules, greatly limits how I am able to hedge.
Learn from your mistakes and march on.
  • #1,965
  • Jan 19, 2023 7:44pm Jan 19, 2023 7:44pm
Quoting Fardeen1209
{quote} Very straightforward explanation. The best strategy we can use is the direct hedging method before a major economic data release. Risking 0.5% one each side(long&short) instead of 1% on only one side is still better than 1% gone and got nothing from the move due to the unexpected release. Thanks bro, got my strategy to build around the data release move.
That is a good way to look at it.
Learn from your mistakes and march on.
  • #1,966
  • Edited 9:36pm Jan 19, 2023 9:16pm | Edited 9:36pm
Quoting here2there
{quote} I have always been a fan of hedging. Unfortunately, being a US citizen subject to FIFO rules, greatly limits how I am able to hedge.
I'm a US citizen as well... and have an account with OANDA (USA). To set up the capability to hedge, I have a subaccount for only buy trades and a subaccount for only sell trades... not ideal, but it works if you don't mind switching between accounts (which is quite easy using the OANDA mobile app). Fortunately, the basic OANDA position size is a "unit" (= $1 for USD-based currencies), which means I can open up multiple buy (or sell) trades and not worry about FIFO as long as each trade differs by 1 unit. At OANDA, FIFO only applies for same-sized trades that have a TP and/or SL.

From Oanda: The smallest position size = 1 unit of the base currency under consideration. For instance, for USD-based currencies, 1 unit = $ 1 USD.
  • #1,967
  • Jan 19, 2023 11:49pm Jan 19, 2023 11:49pm
Quoting davelansing
{quote} I'm a US citizen as well... and have an account with OANDA (USA). To set up the capability to hedge, I have a subaccount for only buy trades and a subaccount for only sell trades... not ideal, but it works if you don't mind switching between accounts (which is quite easy using the OANDA mobile app). Fortunately, the basic OANDA position size is a "unit" (= $1 for USD-based currencies), which means I can open up multiple buy (or sell) trades and not worry about FIFO as long as each trade differs by 1 unit. At OANDA, FIFO only applies for...
I am aware of this. However, there are still limitations for us. I never said it is not possible for US citizens to hedge. But I do appreciate your response.
Learn from your mistakes and march on.
  • #1,968
  • Jan 20, 2023 12:00am Jan 20, 2023 12:00am
Quoting here2there
{quote} I am aware of this. However, there are still limitations for us. I never said it is not possible for US citizens to hedge. But I do appreciate your response.
Even if they allow brokers like Forex.com and Oanda are piece of sh*t. Their spreads are complete garbage....Better go with good offshore brokers...
  • #1,969
  • Jan 20, 2023 12:37am Jan 20, 2023 12:37am
this country patronises its citizens to such an extent that one might think it is not a free country.
trading is like dancing, don't think and just listen to the music!
  • #1,970
  • Jan 20, 2023 12:54am Jan 20, 2023 12:54am
Quoting birdland
this country patronises its citizens to such an extent that one might think it is not a free country.
I am at the point of believing that the people at the top in the US government must despise us common folk.
Learn from your mistakes and march on.
  • #1,971
  • Jan 20, 2023 12:57am Jan 20, 2023 12:57am
Quoting sampat
{quote} Even if they allow brokers like Forex.com and Oanda are piece of sh*t. Their spreads are complete garbage....Better go with good offshore brokers...
As far as I know, there aren't any reputable offshore brokers that will do business with US citizens.
Learn from your mistakes and march on.
  • #1,972
  • Jan 20, 2023 9:52am Jan 20, 2023 9:52am
Hedging + Averaging around 200ema line on EURUSD 20-tick chart. $1000 live account. Feeling dangerous
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Leave the Gun, Take the Armani
  • #1,973
  • Jan 20, 2023 10:09am Jan 20, 2023 10:09am
Quoting cliffjaded
Hedging + Averaging around 200ema line on EURUSD 20-tick chart. $1000 live account. Feeling dangerous {image}
just be aware of "stupid averaging" or "risk of ruin"...but everything turned out well;-)
trading is like dancing, don't think and just listen to the music!
  • #1,974
  • Jan 20, 2023 10:11am Jan 20, 2023 10:11am
started today with a random hedge without a TP

another picture-book week has come to an end...the ratio of commissions to profit is approx. 1:10
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trading is like dancing, don't think and just listen to the music!
  • #1,975
  • Jan 20, 2023 10:16am Jan 20, 2023 10:16am
Quoting birdland
{quote} just be aware of "stupid averaging" or "risk of ruin"...but everything turned out well;-)
Yeah I did some stupid averaging. I have some "safe" averaging techniques which I practised and backtested on M5. In a tough trend, it takes about a day to a week to escape and it requires additive martingale with a huge step (about 20-50 pips between averaging orders). With hedging, you should be able to come out flat faster.

But this 20 tick chart is just to practise getting a feel of quick-paced bi-directional scalping. Using real money to really stress myself out.
Leave the Gun, Take the Armani
  • #1,976
  • Jan 20, 2023 10:33am Jan 20, 2023 10:33am
Quoting cliffjaded
{quote} Yeah I did some stupid averaging. I have some "safe" averaging techniques which I practised and backtested on M5. In a tough trend, it takes about a day to a week to escape and it requires additive martingale with a huge step (about 20-50 pips between averaging orders). With hedging, you should be able to come out flat faster. But this 20 tick chart is just to practise getting a feel of quick-paced bi-directional scalping. Using real money to really stress myself out.
that sounds good, but search for strategies to "escape" holding positions overnight. i guarantee you a better sleep;-)
trading is like dancing, don't think and just listen to the music!
  • #1,977
  • Jan 20, 2023 10:34am Jan 20, 2023 10:34am
Quoting birdland
{quote} that sounds good, but search for strategies to "escape" holding positions overnight. i guarantee you a better sleep;-)
Hence, the 20-tick + M1 experiment
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Leave the Gun, Take the Armani
  • #1,978
  • Jan 20, 2023 10:58am Jan 20, 2023 10:58am
Quoting cliffjaded
{quote} Hence, the 20-tick + M1 experiment {image}
i am curious, how did you get a 20tick chart on mt4?
trading is like dancing, don't think and just listen to the music!
  • #1,979
  • Jan 20, 2023 11:09am Jan 20, 2023 11:09am
Quoting birdland
{quote} i am curious, how did you get a 20tick chart on mt4?
FX Blue Tick Charts MT4
Free tool to create custom offline Seconds, Ticks and Range charts. FX Blue also has a free trading sim that you can use in strategy tester.

Exposure SYL
Here's another free tool to test hedging strategies very easily.
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Leave the Gun, Take the Armani
  • #1,980
  • Jan 20, 2023 11:36am Jan 20, 2023 11:36am
Quoting cliffjaded
{quote} FX Blue Tick Charts MT4 Free tool to create custom offline Seconds, Ticks and Range charts. FX Blue also has a free trading sim that you can use in strategy tester. Exposure SYL Here's another free tool to test hedging strategies very easily. {image}
oh very nice, thank you! i will play around on the weekend.
trading is like dancing, don't think and just listen to the music!
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