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Hedging/averaging trades without prediction

  • #2,101
  • Mar 24, 2023 11:47am Mar 24, 2023 11:47am
added SHORT 32135 no sl no tp
  • #2,102
  • Mar 24, 2023 12:09pm Mar 24, 2023 12:09pm
Quoting Waveskierrob
added SHORT 32135 no sl no tp
Closed SHORT 32080 +55
  • #2,103
  • Mar 24, 2023 12:27pm Mar 24, 2023 12:27pm
added SHORT 32150 no sl no tp
  • #2,104
  • Mar 25, 2023 11:12am Mar 25, 2023 11:12am
So as not to be accused of fabrication after the event, and for others who may benefit from my good/bad trading decisions hereafter, here are my thoughts on my current trading position. Random entry took me short, and shorts have been banked, but 4 longs remain in my EU position. For me, this is good, mainly as it is starting to develop into a situation which requires more work than usual and from which I will learn something.

Firstly this is real money at stake but I'm not in any way concerned, profits so far mean I'm still using my broker's money; I am merely documenting my thoughts if only for my own records. As far as I see I have the following options: 1. Patience (but I may have unwittingly landed on the EU high of the decade so it's good to plan ahead) 2. Patience and bank more shorts and add more longs (but it could get ugly in a worst-case scenario). 3. Start creating a hedge with shorts only and turning the trade short should price dictate. 4. Close and move on once DD = 5% (my arbitrary rule).

I will see how the week develops, my view is that price is due a correction to restore the balance so I will employ option 1 for the time being.
Sounds like a lot of screen time to me.
  • #2,105
  • Mar 25, 2023 8:03pm Mar 25, 2023 8:03pm
Quoting LazyTrades
So as not to be accused of fabrication after the event, and for others who may benefit from my good/bad trading decisions hereafter, here are my thoughts on my current trading position. Random entry took me short, and shorts have been banked, but 4 longs remain in my EU position. For me, this is good, mainly as it is starting to develop into a situation which requires more work than usual and from which I will learn something. Firstly this is real money at stake but I'm not in any way concerned, profits so far mean I'm still using my broker's money;...
I had a car, and it had a drawdown, err, I mean break down. Luckily I had another pair, err, I mean car. So I drove that other car while my favorite car was getting recovered, err, I mean repaired. Make sense?
1.02^200
  • #2,106
  • Mar 26, 2023 5:05am Mar 26, 2023 5:05am
Quoting d5400
{quote} I had a car, and it had a drawdown, err, I mean break down. Luckily I had another pair, err, I mean car. So I drove that other car while my favorite car was getting recovered, err, I mean repaired. Make sense?
100% and I've picked up that many here have multiple pairs/indices on the go at once, if that's the answer then so be it and something I'll look at. Not in any rush at the mo so will use the situation as training wheels for now.
Sounds like a lot of screen time to me.
  • #2,107
  • Mar 26, 2023 5:21am Mar 26, 2023 5:21am
I use this indicator often. because it helps to determine where to trade. It shows a good S/R level. Of course, I only use it as part of a system.
but it's really good.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD---H1.png Size: 50 KB
  • #2,108
  • Mar 26, 2023 12:08pm Mar 26, 2023 12:08pm
Quoting LazyTrades
{quote} 100% and I've picked up that many here have multiple pairs/indices on the go at once, if that's the answer then so be it and something I'll look at. Not in any rush at the mo so will use the situation as training wheels for now.
It's a process of discovery. If noone says anything, it's because they want you to have all the delight figuring it out for yourself. But remember, hedging and averaging is not real trading. Just saying.
1.02^200
  • #2,109
  • Mar 26, 2023 12:26pm Mar 26, 2023 12:26pm
That's fine by me, not looking for answers necessarily, just keeping an open mind exploring the possibilities brought to the table in this thread.
Sounds like a lot of screen time to me.
  • #2,110
  • Mar 27, 2023 1:12am Mar 27, 2023 1:12am
GU Long @1.22323 and blah... this could be a fun day...
  • #2,111
  • Mar 27, 2023 1:19am Mar 27, 2023 1:19am
Quoting Fagin
GU Long @1.22323 and blah... this could be a fun day...
GU long @1.22305

GU Long and Short @1.2225
  • #2,112
  • Mar 27, 2023 1:29am Mar 27, 2023 1:29am
Quoting Fagin
{quote} GU long @1.22305 GU Long and Short @1.2225
Close short and open long @1.22241
  • #2,113
  • Mar 27, 2023 1:41am Mar 27, 2023 1:41am
Quoting Fagin
{quote} Close short and open long @1.22241
Close all @ 1.22230 flat
  • #2,114
  • Mar 27, 2023 1:52am Mar 27, 2023 1:52am
GU Short @1.22346
  • #2,115
  • Mar 27, 2023 2:09am Mar 27, 2023 2:09am
Quoting birdland
will try an experiment with a small account, i will use no leverage or just call it leverage 1;-) only 1 trade per day each direction. no SL, TP between 30-80 pips lets start with a long {image}
now i took a short (red point) so i am naturally hedged;-)

TP more than 30 for long and short.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 10 KB
trading is like dancing, don't think and just listen to the music!
  • #2,116
  • Mar 27, 2023 2:16am Mar 27, 2023 2:16am
Quoting Fagin
GU Short @1.22346
GU Short @1.22518
  • #2,117
  • Mar 27, 2023 2:29am Mar 27, 2023 2:29am
Quoting Fagin
{quote} GU Short @1.22518
Close all @ 1.22420 flat
  • #2,118
  • Mar 27, 2023 3:22am Mar 27, 2023 3:22am
Short GU @ 1.22527
  • #2,119
  • Mar 27, 2023 4:14am Mar 27, 2023 4:14am
Quoting Fagin
Short GU @ 1.22527
Short GU @ 1.22589
  • #2,120
  • Mar 27, 2023 4:16am Mar 27, 2023 4:16am
Quoting Fagin
{quote} Short GU @ 1.22589
Close all @ 1.22530 Flat
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