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Hedging/averaging trades without prediction

  • #2,441
  • Aug 19, 2023 5:23am Aug 19, 2023 5:23am
Quoting Waveskierrob
{quote} ...is that 4% of your bank a day, if so just a word of caution you maybe over leverage, it's not really for me to say as I don't know how you trade but 0.5% a week for me is a lot, but if you can do it hats off to you, interested in seeing your results...
Results from the 10 Aug . 3.71% pd over this period Trade .01 on a ZAR50 account Ustec and USDJPY not part of test
No open trades overnight and all trades closed news time
Trade in batches stil playing around with currency and use currencies with spread lower than 1 pip
Also found that DD is lower in London session

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 27 KB
  • #2,442
  • Aug 19, 2023 5:29am Aug 19, 2023 5:29am
Quoting LifeRider
If the aim of this style of trading is to be quite random in entering, then I'm curious if anyone has tried fibs for entering? {image}
My main focus is after I place trades not before, I started this thread to show others that you don't have to have a trade set ups to make profit, but if you want to use fibs as your entrance then that's fine I promote use what ever you feel most comfortable with, it's my belief so not saying i'm right but the hard work starts once the trade/trades are placed ...thanks for you post...
  • #2,443
  • Aug 19, 2023 5:45am Aug 19, 2023 5:45am
[quote=Waveskierrob;14542072]{quote} My main focus is after I place trades not before, I started this thread to show others that you don't have to have a trade set ups to make profit, but if you want to use fibs as your entrance then that's fine I promote use what ever you feel most comfortable with, it's my belief so not saying i'm right but the hard work starts once the trade/trades are placed ...thanks for you post...[/quote
Fully agree with you Rob
  • #2,444
  • Aug 19, 2023 6:07am Aug 19, 2023 6:07am
Quoting LazyTrades
{quote} Hello Pret, glad it’s helped, let me know your lot size and I’ll see what I can do. I’d echo Rob’s post though and say 4% a day seems extremely high risk, I’m happy with 0.5 per week = 26% a year, and if I realistically achieve that consistently then compounding kicks in. Not for us to say though, and if you can make those sort of numbers then all good. If your strategy is quite simple I might be able to stress test it at some point and see how it plays out historically. Also, if you are going to use EAs you really need to have some tools...
Hi LT thanks you for replying
My aim is to gradually increase capital and same time increase lot size , dont know if you can make it variable but if not my next step is .04 , obviously i will increase my capital as well . I do keep a tight check on my risk I really appreciate Rob and your caution that is why i keep capital low for now and i am retired so i can be in front of my PC to keep things in check
Thanks again for the EA
  • #2,445
  • Aug 19, 2023 6:49am Aug 19, 2023 6:49am
Quoting pret
{quote} Hello Lazytrader . i am using this ea that you posted and seems to be working well i designed my self a strategy around it i will post some detail later . My aim is a TP of 4% per day and has achieved it this week I trade it on a ZAR account and would like to increase the lotsize So i want to ask if you can maybe change the ea to a variable lotsize please
I’m away for the weekend but will post a new 0.04 EA asap.
Sounds like a lot of screen time to me.
  • #2,446
  • Aug 19, 2023 7:07am Aug 19, 2023 7:07am
Quoting LazyTrades
{quote} I’m away for the weekend but will post a new 0.04 EA asap.
Thank you
Enjoy your weekend
  • #2,447
  • Aug 19, 2023 10:09pm Aug 19, 2023 10:09pm
Quoting LazyTrades
Here's a little EA which opens buy/sells 0.01 lots, it doesn't get over the gap issue as this needs to be done manually, depending on your trading style, Rob has given some ideas around that above. This will wait until the next bar and check for a minimum 2 pip profit then reset, in other words if you are running it on a 5 min chart it will wait 5 mins, check, close if profitable, then reset. Might be useful for testing/simulation purposes.{file}
I tried it. It only keeps two trades open. I think it should open trades inside when neither side is in profit and keep doing so. And whichever side is "losing" that side should have one trade more than the other.
1.02^200
  • #2,448
  • Edited 7:44am Aug 20, 2023 2:30am | Edited 7:44am
Quoting d5400
{quote} I tried it. It only keeps two trades open. I think it should open trades inside when neither side is in profit and keep doing so. And whichever side is "losing" that side should have one trade more than the other.
Hello D, yes it was only made for that purpose, I did mention it when I originally posted it, I’m still working on a full version.
Here's a basic .04 version of the original (Pret) , which doesn't overcome the gapping issue (up to you to mange this), just for visualisation, practise etc.
Attached File(s)
File Type: ex4 OpenCloseTP-04.ex4   188 KB | 173 downloads
Sounds like a lot of screen time to me.
  • #2,449
  • Aug 20, 2023 9:42am Aug 20, 2023 9:42am
Quoting LazyTrades
{quote} Hello D, yes it was only made for that purpose, I did mention it when I originally posted it, I’m still working on a full version. Here's a basic .04 version of the original (Pret) , which doesn't overcome the gapping issue (up to you to mange this), just for visualisation, practise etc. {file}
Thank you LT . See there is more input settings
  • #2,450
  • Aug 20, 2023 10:02am Aug 20, 2023 10:02am
No probs, if it’s not doing something correctly let me know and I’ll look again when I can, although during the week I’m normally quite busy so can’t guarantee when.
Sounds like a lot of screen time to me.
  • #2,451
  • Edited 10:45am Aug 20, 2023 10:05am | Edited 10:45am
New youtube channel where a guy shows an interesting hedging method. Would be interesting to hear you guys thoughts.

https://youtube.com/@theforexhedge?feature=share7

Personally ive been using hedging for about 4 weeks now instead of a stop loss. I use simple PA with round about a 1R target so its either target gets hit (easy work) or hedge gets hit...(harder work ) definetely been a learning curve.
  • #2,452
  • Aug 20, 2023 2:06pm Aug 20, 2023 2:06pm
Equity figures for last 4 weeks = +2.45%, average per week = +0.61%, very little user input (apart from all the work that went into the EAs beforehand), I'll take 0.5% per week long term.
Sounds like a lot of screen time to me.
  • #2,453
  • Aug 20, 2023 2:17pm Aug 20, 2023 2:17pm
Quoting LazyTrades
Equity figures for last 4 weeks = +2.45%, average per week = +0.61%, very little user input (apart from all the work that went into the EAs beforehand), I'll take 0.5% per week long term.
Great work LT...
  • #2,454
  • Aug 21, 2023 3:07am Aug 21, 2023 3:07am
Quoting pret
{quote} Thank you LT . See there is more input settings
Hi LT
Tried ea this morning but seems to work differently , when added to chart it opens Buy and selllimit order 5 pips apart
  • #2,455
  • Aug 21, 2023 5:07am Aug 21, 2023 5:07am
Leave it with me, I'll have a look later tonight, I think the original got modified whilst I was developing things.
Sounds like a lot of screen time to me.
  • #2,456
  • Edited 11:36am Aug 21, 2023 11:24am | Edited 11:36am
Quoting pret
{quote} Hi LT Tried ea this morning but seems to work differently , when added to chart it opens Buy and selllimit order 5 pips apart
Hello Pret, try this one (below), TP is 6 pips, have a look at https://fxdreema.com/ (other websites are available) I'm not affiliated in any way but I've been using their software and it does a lot of the heavy lifting for you when it comes to making EAs. It's also worth noting that you don't need any programming skills necesarily, and once you've a basic understanding of program logic you can create all sorts of basic scripts and backtest them using MT4. I also find Forex simulators a great tool when it comes to "seeing" how new concepts play out, just my thoughts. Let me know if the EA below works for you or not, seems to be ok at my end.
Attached File(s)
File Type: ex4 OpenCloseTP-04.ex4   174 KB | 221 downloads
Sounds like a lot of screen time to me.
  • #2,457
  • Aug 21, 2023 11:30am Aug 21, 2023 11:30am
Ok so my equity went over 3% today after DD from Friday turned positive overall, I'm putting my profitable EAs on hold for now whilst I try a new one, I'll admit it's along the lines of Rob's one sided method mentioned above. I backtested it over the weekend and whilst it didn't produce any better results in terms of profit than my existing, the DD figures were better. Need to see how it plays out automatically and might need the margin, will see.

Might change my handle to SpendHoursAtWeekendsCodingThenLazyTrades
Sounds like a lot of screen time to me.
  • #2,458
  • Aug 21, 2023 11:43am Aug 21, 2023 11:43am
Quoting LazyTrades
{quote} Hello Pret, try this one (below), TP is 6 pips, have a look at https://fxdreema.com/ (other websites are available) I'm not affiliated in any way but I've been using their software and it does a lot of the heavy lifting for you when it comes to making EAs. It's also worth noting that you don't need any programming skills necesarily and once you've a basic undestanding of program logic you can create all sorts of basic scripts and backtest them using MT4. I also find Forex simulators a great tool when it comes to "seeing" how new...
Hi LT ,will try it out tomorrow thank you
Thanks for the link will have a look and give it a go
Much appreciated
  • #2,459
  • Aug 22, 2023 9:15am Aug 22, 2023 9:15am
Quoting LazyTrades
{quote} Hello Pret, try this one (below), TP is 6 pips, have a look at https://fxdreema.com/ (other websites are available) I'm not affiliated in any way but I've been using their software and it does a lot of the heavy lifting for you when it comes to making EAs. It's also worth noting that you don't need any programming skills necesarily, and once you've a basic understanding of program logic you can create all sorts of basic scripts and backtest them using MT4. I also find Forex simulators a great tool when it comes to "seeing" how...
EA is working fine thanks
  • #2,460
  • Aug 22, 2023 10:27am Aug 22, 2023 10:27am
Quoting pret
{quote} EA is working fine thanks
That's interesting. How do you deal with the gap?
1.02^200
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