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Hedging/averaging trades without prediction

  • #2,381
  • Aug 2, 2023 2:34pm Aug 2, 2023 2:34pm
Quoting Waveskierrob
{image}
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1.02^200
  • #2,382
  • Aug 4, 2023 12:21am Aug 4, 2023 12:21am
a short update: after I was able to liquidate or close all shorts, I am now long 6 positions and waiting for their TP;-)

i have a routine by now, so that it is enough to take a quick look in the morning, at noon and in the evening.

When I was travelling for a week, I simply left everything as it was and the old positions were able to run into the TP. this is also manageable.
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trading is like dancing, don't think and just listen to the music!
  • #2,383
  • Aug 4, 2023 10:55am Aug 4, 2023 10:55am
Only small gains this week, short USDMXN hitting TP helped, +33% equity on my original investment but now trading a bigger account so +2% in 2 weeks. If you are the type that gets excited when something goes your way only to see everything go south on the reversal I'd suggest having a look through the thread, these are the conditions that help the most here. I've actually made an EA to trade both ways on GU now just for a little interest from time to time but I'm pretty confident I could leave everything alone and it would work out. Slowly increasing lot sizes as I get a feel for the DD/margin. Have a good weekend all.
Sounds like a lot of screen time to me.
  • #2,384
  • Aug 4, 2023 2:31pm Aug 4, 2023 2:31pm
Sorry forgot to post yesterday and late today...
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  • #2,385
  • Aug 7, 2023 8:36am Aug 7, 2023 8:36am
Kudos for not using charts, I'm not a big fan of my electronic tag (aka mobile phone), and sit in front of desktops most of the time for work so MT4 is always running behind the scenes. I always noticed that images of professional trading floors rarely had any/many screens with charts on, but I suspect their methods are somewhat different. I could probably run using a spreadsheet but will leave that for another day, I doubt my EAs would work in Excel as well. Perhaps a no-chart challenge is on the horizon.
Sounds like a lot of screen time to me.
  • #2,386
  • Aug 7, 2023 2:54pm Aug 7, 2023 2:54pm
Sorry a little late...
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  • #2,387
  • Aug 7, 2023 3:05pm Aug 7, 2023 3:05pm
Quoting LazyTrades
Kudos for not using charts, I'm not a big fan of my electronic tag (aka mobile phone), and sit in front of desktops most of the time for work so MT4 is always running behind the scenes. I always noticed that images of professional trading floors rarely had any/many screens with charts on, but I suspect their methods are somewhat different. I could probably run using a spreadsheet but will leave that for another day, I doubt my EAs would work in Excel as well. Perhaps a no-chart challenge is on the horizon.
LT, they fill the orders in the pit and skim for 2 thicks on their own accounts. Often, they follow the ax in the ring thinking that somebody knows better. Just go to the stock exchange and talk to them. Sure, there is nothing wrong with not using the charts. Quantitative analysis can be equally effective.
Always trade your own plan...I don't provide trading signals.
  • #2,388
  • Aug 7, 2023 3:24pm Aug 7, 2023 3:24pm
Quoting Coreg2004
{quote} LT, they fill the orders in the pit and skim for 2 thicks on their own accounts. Often, they follow the ax in the ring thinking that somebody knows better. Just go to the stock exchange and talk to them. Sure, there is nothing wrong with not using the charts. Quantitative analysis can be equally effective.
Can't help thinking pros would piss their pants laughing at some of the attempts retail traders make (including mine), reading between the lines though it's just as much, if not more so, about the trading mentality than the method. Having said that, I started trading my own share funds decades ago as many of the fund managers who were "looking after my portfolio for the long term" were clearly about as useful as tits on a fish.
Sounds like a lot of screen time to me.
  • #2,389
  • Aug 7, 2023 5:46pm Aug 7, 2023 5:46pm
Update on my current positions: Short EAs running on USDMXN, UK100, EU. Long EAs running on UJ, EJ, NZDUSD. Made an EA to initiate gapped buy/sell on GBPUSD but that isn't working properly so will manually trade that for now with a small lot size as and when. Only EU, EJ and GU open at the mo (1 level each) as EAs trigger on RSI levels (below 40 long and above 60 short). Equity +2.2% since increasing trading account size a couple of weeks ago, trading live.
Sounds like a lot of screen time to me.
  • #2,390
  • Aug 8, 2023 2:04pm Aug 8, 2023 2:04pm
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  • #2,391
  • Edited Aug 9, 2023 7:51am Aug 8, 2023 10:43pm | Edited Aug 9, 2023 7:51am
I'm also trying something new. Seeing if I can achieve a steady state. Low DD, constant income. Couple weeks need to pass to see it works. I understand.
1.02^200
  • #2,392
  • Aug 9, 2023 12:23am Aug 9, 2023 12:23am
Quoting d5400
{quote} {image}
Sorry to bore you on my own thread but I did say that I would be only posting results then explaining why after two weeks, obviously you don't have the patience for my style of trading, which is fair enough, but please if you have something exciting to post please do, we're all be waiting with anticipation...
  • #2,393
  • Aug 9, 2023 7:52am Aug 9, 2023 7:52am
Quoting Waveskierrob
{quote} Sorry to bore you on my own thread but I did say that I would be only posting results then explaining why after two weeks, obviously you don't have the patience for my style of trading, which is fair enough, but please if you have something exciting to post please do, we're all be waiting with anticipation...
I didn't realize the image was so annoying. Edited.
1.02^200
  • #2,394
  • Aug 9, 2023 2:09pm Aug 9, 2023 2:09pm
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  • #2,395
  • Aug 10, 2023 3:57am Aug 10, 2023 3:57am
Wave, how many (in percentage) trades stay open in a day or week? And how do you get rid of them later?
  • #2,396
  • Aug 10, 2023 11:29am Aug 10, 2023 11:29am
NZDUSD hit TP today but this was offset by an annoying "dividend adjustment" on UK100, think I'll bin that off permanently once I close the position (currently 1 level short), pretty flat/slightly negative week so far otherwise. Long GU and short EU.
Sounds like a lot of screen time to me.
  • #2,397
  • Aug 10, 2023 12:41pm Aug 10, 2023 12:41pm
Quoting Mic_FX
Wave, how many (in percentage) trades stay open in a day or week? And how do you get rid of them later?
great question, it varies all the time but will explain more when I've finished with my trial run..
  • #2,398
  • Aug 10, 2023 2:04pm Aug 10, 2023 2:04pm
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  • #2,399
  • Aug 11, 2023 3:04am Aug 11, 2023 3:04am
Quoting Waveskierrob
{quote} great question, it varies all the time but will explain more when I've finished with my trial run..
You probably forgot. We are waiting with great interest...
  • #2,400
  • Aug 11, 2023 4:44am Aug 11, 2023 4:44am
Quoting Mic_FX
{quote} You probably forgot. We are waiting with great interest...
Haha not forgot said two weeks but don't get too excited it still hard work....
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