Hedging/averaging trades without prediction

He's been a busy boy so far today, nothing open at the mo. (+1.26% for the week +3.32% total since Monday 15th May.)
*Been out all evening, update (+1.41% for the week +3.47% total since Monday 15th May.)

These ranging days are easy pips but the true test will come with a big move which fires through many orders at once and doesn't retrace for days/weeks. Backtesting shows these are very rare but do happen, patience, and the fact the carry is always positive, will help. There's also the option to close anything that looks ugly, will see how it goes. Unless anything dramatic happens I'll update once a week from now on.

It was a bit more busy this morning in the office so I had to deal with less screentime on the charts...
Anyway, I was able to grab some pips and finish in time.

Trades on GU:


Summary:




+4% today, +5,65% today from my initial deposit.
Can't complain at all!

At this point I really have to say a huge THANK YOU @Waveskierrob for coming up with this thread and the way of trading! Of course I created my own "thing" to trade but without this thread I wouldn't be able to be green. Plus I slowly start to gain more and more confidence in my trading and Iam losing more and more fear of negative trades because I know, at the end I will end up green.
Cheers to you Waveskierrob

getting there soon be cashing in ...

Done for the day and done for the week.

Daily trades on GU:


Total of the day:




Total of the week:


Iam more than happy with these results!!!!
1424 Pips in 4 days.... unbelievable

9 profitable days straight, will post figures end of play tomorrow. Have upped the lot size which introduces a new problem of covering margin, not an issue as yet but..
Here lies the uncomfortable truth for many, we may be simply undercapitalised. I'm more than happy with the forward results so far but not getting carried away.

Mr. Moe thanks so much for the regular update.
And to Mr Rob, thanks again for this thread.

Had some time today to place some trades on the phone...
Had to do it after I realized a rising price and dropping volume towards the 1.24 mark on GU.
So I loaded up some trades and did set a TP.

Trades:


Daily sum.:


Weekly sum.:

End of week 2 report as promised: consecutive days profitable = 10, (+3.57% for the week +5.63% total since Monday 15th May). Lot sized doubled midweek hence the % improvement on previous week. So with no input, I'm looking at an EA which currently generates around 0.5% per day. Every profitable day makes DD more tolerable, today triggered 4 levels (2 on each pair) but this has been rare since the beginning two weeks ago. Covering margin is the issue so I'll leave lot size as it is for a while.

Have a good weekend all.

Can you share the indicator on this chart. this will help in knowing B/E when averaging

Day 11, 3x profitable trades closed but 2x UJ longs with 1x currently in DD, overall just north of BE for the day with financing.

Day 12, (based on equity, balance is higher) +.56% for the week, 6.18% overall since kickoff. I'd post live trades but I'm not looking at the (trading) screen that much anymore and quite a few open and close overnight.

So overnight positions have closed and new ones opened, situation now looks +1.33% for the week +6.96% overall. DD has yet to expose uncomfortable levels of margin but, should it do so, I will pause one pair (I'm effectively long $ all the time), close the least profitable levels or simply increase the balance to cover the margin.
Positive swap collection has accounted for +0.16% of the total.

On another note, Rob hope you are enjoying the new bike and you might like one of my favourite quotes:

"The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts."
Bertrand Russell

Bertrand and myself are probably wrong though.

All trades just closed: +2.21% for the week +7.83% overall.
Unless anything dramatic happens I'll update end of play Friday, the whole idea was to reduce screen time :o)

I have to ask because I like bikes a lot, is this the strategy that paid for the new bike???

Me too, I bought a new one last year, not sure how Rob paid for his but I think if you read the very entertaining cable thread all is revealed.

Just to keep things real, only a 1.28% (equity not balance) weekly increase now as some EU shorts in play, still a big bag of profit in the margin bag, let's see where it goes tomorrow. As 4 shorts in play on EU I've paused UJ, patience required now waiting for a retrace before starting again, certainly helps getting positive finance on the positions every day whilst waiting.

Like a coiled spring EU returned to TP and more today, all trades closed, so, as of now: +5.12% for week and +10.75% since May 15.
Have a good weekend.

Outstanding

So far so good, results actually better than expected, will keep plugging away, gathering data. The best bit is only looking at my phone 2-3 times a day, I actually get a bit miffed if I'm not in DD overnight as I miss the carry.

Does this count as entry to this thread? I've tried for a long time to trade intraday, but I have work to do, and bots are not my thing. I've started a couple weeks ago to trade just once a day at midnight. I find that there seem to be many opportunities to get out of bad trades at least mid way. In the mean time the other direction can gather some pips. It's not a huge money maker, but has a potential for 1-3% a day average and the tempo really suits my slowness I can follow it bar by bar.