Hedging/averaging trades without prediction

Many thanks for the reply, my version, so far, of this trading style could be summed up as follows: nibble away with small TPs on the way up/down, stay close to the action so when the reversal comes you can use your averages (reverse trades that you left behind) to clear any negative balances and make further profits or get back to BE. I was wondering why you took such small profits so early, but when trading live I realised the closer to the top/bottom of any reversal you are, the quicker you get to clear any drawdown.

My biggest problem has been finding the best way deal with having to leave the screen at short notice (I cancel any TPs and leave a tight hedge order) and dealing with with the results of the hedge when I return. So far I’ve found the best thing is to wait until price moves either side of the hedge then carry on in that direction. It’s a good challenge getting out of the hedge results and have found I can improve any situation in stages when I get the chance to trade.

Not sure I’ll be able to post live trades yet as it takes quite a bit just to concentrate on what I’m doing but will maybe try once I’m 100% through the self-doubt stage.

Great advice so far, I think all we need is price to continue going in completely random and unpredictable directions
Still learning/developing but grew my live account by 0.75% last week.

If you close your eyes, it'll be completely unpredictable (not sure about random).

It may be possible with eyes closed and no charts but I'm not there yet.
Agreed that too random may not be the best, I use previous highs and lows as my potential reversals points and place pending orders at those points with some success. Just made a few pips live in the Asian session, will look at posting trades once I'm able but everything is moderated at the mo due to my FF status.

Whats up Hedgers & Averagers

Iam slowly starting to get back into the groove.
Started again last week thursday on demo, cable only.

Results for 3 days of trading:

Ok so trading EU, opening with buy/sell at random, real money (but nothing I won't miss). Banked pips on the way up today and have 3 shorts in play, have one more pending set above price and if that gets triggered I'll just bring Mr. Patience into play.

Basket will be closed soon, had to sit on it for a day but no dramas, even picked up a few points on the positive financing.

Delivered....

Tried to like but I'm able due to my new member status (makes me feel young again at least). Managed to pick the bottom of the EU move with a buy limit above the next sell stop which brought home another round. Similar outcome to my last trade but 23 hours less time soaking.

Oh I wish I would have traded live today....
All on demo...



But, live acc. is getting reactivated soon!

38% in one day, good work.

For me, live trading is the only way to go, losses are part of the learning journey and mine has been 15yrs +. Demo is great for practise but I found I could be quite relaxed trading 10k Monopoly money but less so when my 1k was on the table.

On the topic of practise I rarely see this mentioned, even when armed with a proven strategy, can traders carry it out in the real world? As far as Wave's (and other's) techniques go here it took me a while to visualise. When trying something new I've found the ability to load real price data on to a platform was a massive help, speeding it up and pausing when I had time to practise, there's a few online platforms that allow you to do this for free. I won't mention any in particular in case it triggers the commercial flags but they are easy enough to find.

I'm enjoying hedging/averaging without prediction so far and will see how it goes over the coming weeks/months.

My profit today was nearer 1% BTW.

Two 10 min trades today currently at +0.5% live on EU. I find it's best not to start averaging too early, letting the first two trades go in the same direction (I think Bird mentions this earlier in the thread as well). My reasoning being the first average is the most expensive when you go off for a ride. I do take care with the positioning of my limit orders (always around swing highs and lows) as there's nothing better that getting one of these filled without the corresponding stop.

Ranging days are definitely the best.

Currently banking buys on EU and leaving shorts behind.

Closed out at BE, note to self, double check lot size before first trade :o|

3 longs in play on EU
Now closed, small consistent profits this week, will carry on next.

We've all done it ...

More than once 😂

More small profits today so far, I'll keep taking what I get and update if/when something more exiting happens, if only to keep the thread going

Two more days of small but steady profits, closed out for today as have to leave my screens. Live account slowly growing without too much drama, using a naked chart showing nothing more than highs and lows to position stops and limits (no SLs). Random entries still being used in the spirit of the thread, ultimately I'm happy to accept I've no idea where price is going (a sobering moment of epiphany that came to me many, many years ago), nor do I really care.

Perhaps I'll go back to soothsaying with dojis crossing the 60 ema after a Fed announcement for excitement.

Hopefully will be trading live again on this thread on Friday if I can get away from work Thursday night ...😁, thanks for keeping this thread going shows that you have great patience...😇😁

EU entry took me short so banking shorts and dropping longs for later, see how this plays out.