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Trading aud/nzd successfully

  • #1,401
  • Feb 18, 2009 9:20am Feb 18, 2009 9:20am
Quoting newera
At level 4 you open 2 trades:
a BUY (the regular 4th level trade)
a SELL (a hedge with the trend)

Or vice versa depending on which side of the MA you are on.
Level 4 is 270 pips from level 1. So, u open hedge @ level 4 with -$81 which is the same as having SL @ 270 [-$81]. How do u get that extra 90 pips ?
  • #1,402
  • Edited 3:34pm Feb 18, 2009 3:10pm | Edited 3:34pm
....
  • #1,403
  • Feb 18, 2009 4:29pm Feb 18, 2009 4:29pm
Been looking at the numbers, and this is going to seem like a really silly question but I have to ask in case I'm doing it wrong

2.0(Lots) x 230(pips) x100,000(standard unit) x 0.0001(price per pip) = $810.00

How do you get $81.0

Once you get to level 4 starting with initial 0.05 lots (5 micro lots) the sum of all open positions comes to 2.0 (ie 2 standard lots)

Is that correct. My assumption here is that you are starting with 0.05 standard lots (ie 5 microlots, I didn't believe you can have 0.05 micro lots?)

Sorry to bother you

Andy
  • #1,404
  • Feb 18, 2009 5:14pm Feb 18, 2009 5:14pm
Quoting drandycollings
Been looking at the numbers, and this is going to seem like a really silly question but I have to ask in case I'm doing it wrong

2.0(Lots) x 230(pips) x100,000(standard unit) x 0.0001(price per pip) = $810.00

How do you get $81.0

Once you get to level 4 starting with initial 0.05 lots (5 micro lots) the sum of all open positions comes to 2.0 (ie 2 standard lots)

Is that correct. My assumption here is that you are starting with 0.05 standard lots (ie 5 microlots, I didn't believe you can have 0.05 micro lots?)

Sorry to bother you

Andy...

there are such thing as nano lots, when we say 0.01 we usually refer to a nano lot , cos most of us are on mini accounts... 0.1 = micro, 1.0 = mini....
Grabbing the bull by the horns!
  • #1,405
  • Feb 18, 2009 5:48pm Feb 18, 2009 5:48pm
I have been watching from a distance the discussion on hedging. My question now is WHY? Why do you want to use it? If you are 81 dollars down at the hedge then you will still be 81 dollars down whether it moves 1000 pips up or down. All a hedge does it stop the trade from any more gains or losses. Now you have two trades to deal with and you have added the pip spread (that can be 20-50 pips) as more loss to the trade. If 81 dollars is your loss limit. Then I would think you would just put your SL there and be done with it. The only purpose I see in hedging is mentally your not with it and you dont want to make a stupid mistake so you hedge the trade to deal with later. OR you are not home and you want the EA to cover your butt while your gone and deal with the trade later.

If you hedge a bigger or smaller number then there will always be a direction in which the loss can get bigger. However, I guess you can change the rate of loss with it. A desirable goal maybe in some cases. Anyway, If you are going to do this, you need to really define, WHY? My conclusions are if you stay away from the big news stories the EA seems to work fine. The biggest problem I have faced is not sudden market moves but the spread, give me a reasonable spread and I make money on a regular basis. My thoughts so far but I also dont want to cut imaginative thinking either.
  • #1,406
  • Feb 18, 2009 6:39pm Feb 18, 2009 6:39pm
Quoting forexisfx
As soon as u open the exact amount to hedge, up or down 1 million pip doesn't matter, it will still be the same amount of loss from the point u open up the hedge [in this case, the point where u open hedge is @ level 4 and the DD @ level 4 was -$81. Which means the hedge is just to freeze your loss.]

Quoting nanningbob
I have been watching from a distance the discussion on hedging. My question now is WHY? Why do you want to use it? If you are 81 dollars down at the hedge then you will still be 81 dollars down whether it moves 1000 pips up or down. All a hedge does it stop the trade from any more gains or losses.
  • #1,407
  • Feb 18, 2009 6:45pm Feb 18, 2009 6:45pm
audnzd seems to bounds very nicely with tight range, is it the quiet before the storm ? Very tempted to trim down setting and get more trades.
  • #1,408
  • Feb 18, 2009 7:01pm Feb 18, 2009 7:01pm
Quoting forexisfx
audnzd seems to bounds very nicely with tight range, is it the quiet before the storm ? Very tempted to trim down setting and get more trades.
It's been ranging tightly for a while now. My guess is that it is the calm before the storm ...
  • #1,409
  • Feb 18, 2009 7:25pm Feb 18, 2009 7:25pm
Quoting Schminner
It's been ranging tightly for a while now. My guess is that it is the calm before the storm ...
I think this week will be fairly quietly, maybe a couple trades late on THR. That doesn't mean I am changing any of my settings though.
  • #1,410
  • Feb 18, 2009 8:07pm Feb 18, 2009 8:07pm
Quoting forexisfx

You guys are both right. It was just a thought to add to the conversation on hedging. I see now that it probably makes sense just to set the stop loss lower and be done with it.

Thanks for the input.
  • #1,411
  • Feb 18, 2009 9:42pm Feb 18, 2009 9:42pm
fail to plan, you plan to fail... as long as we know the worst case scenario going in we can plan accordingly...
Grabbing the bull by the horns!
  • #1,412
  • Feb 19, 2009 6:54am Feb 19, 2009 6:54am
it's getting boring in audnzd. I miss the big move like the last few weeks. Hopefully we get some big news and it move 250+ pips

Too quiet = not much money earn
  • #1,413
  • Feb 19, 2009 8:27am Feb 19, 2009 8:27am
Quoting forexisfx
it's getting boring in audnzd. I miss the big move like the last few weeks. Hopefully we get some big news and it move 250+ pips

Too quiet = not much money earn
Aslong as the +250 are with hefty reversals etc I can live with that.
Otherwise hell no.
  • #1,414
  • Feb 19, 2009 11:11am Feb 19, 2009 11:11am
Lately this week, there's hardly any range to open trades during US session ...
  • #1,415
  • Feb 19, 2009 4:02pm Feb 19, 2009 4:02pm
Damn, I hope that spike drops back down ....
  • #1,416
  • Feb 19, 2009 4:22pm Feb 19, 2009 4:22pm
Trading 35x20 live
I just knew that was going to happen with a red flag news coming. I was 7 levels into a sell trade and took it off at a quick retrace with 0 loss to allow a fresh trade to be made when the news hit. This 35x20 has been very good to me. Now let's hope we get a good retrace.
  • #1,417
  • Edited Feb 20, 2009 3:40am Feb 19, 2009 4:27pm | Edited Feb 20, 2009 3:40am
Quoting Schminner
Lately this week, there's hardly any range to open trades during US session ...
the range is there we just need to adjust our settings so they work in this range.

i think the currencys are suffering from bailout shock.

i think that they are getting numb to certain news.

800billion bailout did not have the same type of move
the markets moving, time to get in!
  • #1,418
  • Feb 19, 2009 4:47pm Feb 19, 2009 4:47pm
Quoting Tradster
Trading 35x20 live
I just knew that was going to happen with a red flag news coming. I was 7 levels into a sell trade and took it off at a quick retrace with 0 loss to allow a fresh trade to be made when the news hit. This 35x20 has been very good to me. Now let's hope we get a good retrace.
`
wow that was a strong up move just then, hope you guys are sitting pretty
Grabbing the bull by the horns!
  • #1,419
  • Feb 19, 2009 4:53pm Feb 19, 2009 4:53pm
Just hit 7th level 1.2698. this is where it gets interesting.
  • #1,420
  • Feb 19, 2009 4:56pm Feb 19, 2009 4:56pm
Quoting whitegoodman
`
wow that was a strong up move just then, hope you guys are sitting pretty
Haha, not so pretty
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