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Hedging/averaging trades without prediction

  • #2,041
  • Mar 23, 2023 1:54pm Mar 23, 2023 1:54pm
Quoting Waveskierrob
Going to cool things down a bit DJIA can really move not for the faint hearted....TRADE 73 S+P SHORT and LONG 3928 nosl tps +3
SHORT tp hit +3
  • #2,042
  • Mar 23, 2023 2:00pm Mar 23, 2023 2:00pm
Quoting Waveskierrob
Going to cool things down a bit DJIA can really move not for the faint hearted....TRADE 73 S+P SHORT and LONG 3928 nosl tps +3
LONG tp hit +3
  • #2,043
  • Mar 23, 2023 2:01pm Mar 23, 2023 2:01pm
TRADE 73 +3 +3 ..total +6..........running total +2320
  • #2,044
  • Mar 23, 2023 2:12pm Mar 23, 2023 2:12pm
Two total different trades today, one sat on the edge of my seat the other just a walk in the park....if my DJIA trade hit both tp's straight away would have only given me +10 but as one side went massively against me I managed to bank +420 maybe something to think about...
  • #2,045
  • Mar 23, 2023 2:15pm Mar 23, 2023 2:15pm
Quoting Waveskierrob
{quote} Very wise, yes hell will come sooner or later but the fact that you are prepared that's it coming is half the battle, I can only say it does get better with experience but only you and you alone can actually do it, trade markets with small movements with tiny lots that's all I can advise, you've seen my trade today massively underwater but I was to stick it out it came back into profit quicker than expect was prepared to go into next week ....again it ain't no easy money but I think you already know that........"repetition...
Thanks Waves, I'm being quite cautious with all this at the mo just sticking with EU for now, it's certainly not easy, not for the impatient excited types for sure.
Sounds like a lot of screen time to me.
  • #2,046
  • Mar 23, 2023 2:21pm Mar 23, 2023 2:21pm
Quoting LazyTrades
{quote} Thanks Waves, I'm being quite cautious with all this at the mo just sticking with EU for now, it's certainly not easy, not for the impatient excited types for sure.
slow and steady wins the race...
  • #2,047
  • Mar 23, 2023 2:27pm Mar 23, 2023 2:27pm
Quoting Waveskierrob
Two total different trades today, one sat on the edge of my seat the other just a walk in the park....if my DJIA trade hit both tp's straight away would have only given me +10 but as one side went massively against me I managed to bank +420 maybe something to think about...
Glad it worked out, for me it would depend on how many hours/days/weeks it would take me to recover to the same position had things gone tits up. Once I get a feel for the "average" day's profits I think I'll say X is the maximum DD I'll take and prepare to reset at that level, all this subject to change of course.
Sounds like a lot of screen time to me.
  • #2,048
  • Mar 23, 2023 2:33pm Mar 23, 2023 2:33pm
Keep at it. You will find the market has an equilibrium that is never discussed here on Forex Factory because you need to trade to find it and almost everyone simply doesn’t or can’t.
Hard to explain and I don’t want to attract trolls to this excellent thread but I’ll tell you it is worth the work.
Peace out 🙏
  • #2,049
  • Mar 23, 2023 2:34pm Mar 23, 2023 2:34pm
Quoting LazyTrades
{quote} Glad it worked out, for me it would depend on how many hours/days/weeks it would take me to recover to the same position had things gone tits up. Once I get a feel for the "average" day's profits I think I'll say X is the maximum DD I'll take and prepare to reset at that level, all this subject to change of course.
Birdland suggested to average on time eg once a day rather than price which I'll certainly be trying out in fact I try it now
  • #2,050
  • Mar 23, 2023 2:36pm Mar 23, 2023 2:36pm
TRADE 74...coin flip heads so LONG S+P 3939 no sl tp +5....my time 19:37
  • #2,051
  • Mar 23, 2023 2:40pm Mar 23, 2023 2:40pm
Not that bloody magic coin again
Sounds like a lot of screen time to me.
  • #2,052
  • Mar 23, 2023 2:45pm Mar 23, 2023 2:45pm
Quoting Waveskierrob
{quote} Birdland suggested to average on time eg once a day rather than price which I'll certainly be trying out in fact I try it now
Yes read that and makes sense, as I'm quite reliant on swing highs and lows for my limits and stops I'm going to use those at higher time frames as well once things get fruity so I don't end up with too many underwater positions. Price currently moving away from my EU longs so might get a chance to practise.
Sounds like a lot of screen time to me.
  • #2,053
  • Mar 23, 2023 2:46pm Mar 23, 2023 2:46pm
Quoting Fagin
Keep at it. You will find the market has an equilibrium that is never discussed here on Forex Factory because you need to trade to find it and almost everyone simply doesn’t or can’t. Hard to explain and I don’t want to attract trolls to this excellent thread but I’ll tell you it is worth the work. Peace out 🙏
"equilibrium" great word ...got to be word of the day...
  • #2,054
  • Mar 23, 2023 2:47pm Mar 23, 2023 2:47pm
Whaaaatssaaaaaappp!!!!!????!!?!?!?!?!😅😅🤣🤣
People don't plan to lose. They lose because they don't plan.
  • #2,055
  • Mar 23, 2023 2:48pm Mar 23, 2023 2:48pm
Shit! Wavskie took all money from the market🫢🫢🤣🏛💪🍀
People don't plan to lose. They lose because they don't plan.
  • #2,056
  • Mar 23, 2023 2:49pm Mar 23, 2023 2:49pm
Quoting Waveskierrob
TRADE 74...coin flip heads so LONG S+P 3939 no sl tp +5....my time 19:37
well that didn't last LONG tp hit +3 TRADE 74 +5....running total +2325
  • #2,057
  • Mar 23, 2023 2:50pm Mar 23, 2023 2:50pm
Quoting ScalaFX
Shit! Wavskie took all money from the market🫢🫢🤣🏛💪🍀
don't think you did too bad yourself today ...go drink and be merry ....
  • #2,058
  • Mar 23, 2023 2:57pm Mar 23, 2023 2:57pm
Try again ..coin toss heads TRADE 75 LONG S+P 3952 nosl tp+5...my time 19:56
  • #2,059
  • Mar 23, 2023 3:12pm Mar 23, 2023 3:12pm
Quoting Waveskierrob
Try again ..coin toss heads TRADE 75 LONG S+P 3952 nosl tp+5...my time 19:56
will average this trade every hour can't be arse waiting a day .......I know need to exercise more patience ... but back home and I have far too much to drink..
  • #2,060
  • Mar 23, 2023 3:41pm Mar 23, 2023 3:41pm
Quoting Waveskierrob
Try again ..coin toss heads TRADE 75 LONG S+P 3952 nosl tp+5...my time 19:56
LONG tp hit +5 ...TRADE 75 +5 .....running total 2330....that's it for today back tomorrow..
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