EURUSD

i wonder if its gonna get back that high before news..

Hi guys,
first of all... Good Mornig/Evening at all...

Just yesterday SpecialEd , but other friends too, have asked me to explain how I use the hedging technique .

I noticed that around this issue there are those who criticize this technique.

Well, I start by saying that when I decide to enter long or short in a market, I do so at different levels and in countertrend.
Already this is a significant difference compared to most other traders, especially the newbie, which trade only in the trend and with precisely SL, for which, the problem of defending its position, it does not arise.

Once exhausted my entries in the market, I should put the problem of how to manage the position if the market continues to move in the opposite direction.
It is obvious that, having built up a position, I can not simply think to liquidate it just because the market continues to go against. It is pure theory thinking to close what you built and reopen your position simply in a more favorable time. The moment of decision on what to do is something difficult and of psychological nature.

A good example about this kind of situation, there was just yesterday and I went to describe:

Sunday I started to accumulate shorts, as you can see from my post at the start of the week ,because, from my point of view, the market scenario has changed.
Meanwhile we went to 1.2456 before recovering.
Just yesterday, while the market went back, I glimpsed the possibility that more than 1.2541 we could have a more significant long phase.
Also this thing I have posted in real time. So I had to ask me the question about what I could do to defend my position. So I decided to go in hedging at 1.2548. At 1.2645 I have unlocked my short position, thinking that the market will be stopped there.
All this has allowed me not simply to suffer the market and to cushion the blow.

I hope this example clarifies better the type of use , I make of hedging technique.

Thanks for that Driver55.

Personally this technique scars me. I think you have to have a great feeling for the market to use this method.

P.S.

Do you think someone can use it with a small account?

Everything is relative .... I think that may be useful for those who, like me, makes countertrend trades ..and not scalping.

The value mentioned in the description of the hedging technique (2541), is for today at 1.2545

meanwhile 2565 is being broken once again....

Hi Driver,thanks for sharing,your hedging technique is very similar to mine,I normally use 4 positions open,2 longs and 2 shorts at different levels (30/70 pips distance each other).Still working on that,don't have your experience

it looks like we're going back into the channel:

http://i427.photobucket.com/albums/p...ce/chart-2.jpg

1.2550 needs to be broken before ECB time for new doors (err money) to open



eurusd is currently oscillating around M2 @ 1.2558

GBP rates in less than 1h.

Hell, I hate to have an open position during news....

Dont forget that we have opende on a 4H basis , over 2584.

I would not be surprised if at 07.45h NY time ... we were above 2584.

guys, be careful

morning wave chart

Haha! I've just looked at your profile Driver55, you monitor junkie!

Looks like a lot of radiation going on in your room!

The biggest damage comes from coffee and smoking cigarettes

And italian sex addiction......


sorry, i couldn't hold it.....

jack, my hormones are all fairly quiet

both cable and euro are falling down, but I haven't noticed which had started first....

P.S.

whispered numbers?

GBP Went first, not much though... I'm short GBPUSD since 1.4158.

I've got a pending order on EurUsd...

DOW Future and S&P futures are in bigger reds than earlier.
this should cheer up the short players.

thanks