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Help needed in OANDA + users from Malaysia 105 replies

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  • #21,361
  • Apr 22, 2009 3:07am Apr 22, 2009 3:07am
Hi guys,

I still hold my position while observing daily. The trend line look as support intact for previous test. it is not touching my tl H4 yet even now -117 pips. Still stick with first plan.

regards,
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  • #21,362
  • Apr 22, 2009 3:25am Apr 22, 2009 3:25am
Quoting Satni
Trade positions strategy can coming of all sorts...but the most commonly
is to use hedging posts, if your first entry posts prove to wrong.
You reduce your floating loss instantly, stoping the losses from bleeding further.
You ought to have a disclaimer for newbies regarding the above statement. It's not a healthy practise to hedge unless you are absolutely sure of what you're doing. Never look to lock losses, only lock winners. If the trade turns bad, never hesitate to close the position. There's always another setup.

Cheers.
Thank You
  • #21,363
  • Apr 22, 2009 5:06am Apr 22, 2009 5:06am
Boom Boom Bang time... everyone is waiting for this I guess

7:30pm GBP
Annual Budget Release
  • #21,364
  • Apr 22, 2009 5:25am Apr 22, 2009 5:25am
Bloody Whipsaw!!! Now back up to DPP. Anyone dare to SFB?
  • #21,365
  • Apr 22, 2009 5:26am Apr 22, 2009 5:26am
Quoting Malaysia
Bloody Whipsaw!!! Now back up to DPP. Anyone dare to SFB?
Forget it... easily broke the DPP... now above it again. Me confius... me stay out until the News. What a day!
  • #21,366
  • Apr 22, 2009 5:43am Apr 22, 2009 5:43am
Quoting Malaysia
Forget it... easily broke the DPP... now above it again. Me confius... me stay out until the News. What a day!
its a doji on 8hr chart.....
at last i`ve found a holygrail........
  • #21,367
  • Apr 22, 2009 6:54am Apr 22, 2009 6:54am
Quoting Satni
Ok khelemen, that sounds fair.

Yes, I can share it here.
First and foremost, Trading is about risk taking,and ONE of the ways to reduce risk taking is by the use of charts analysis(we all know this.not bad). The other parts are Money Management and Trader Psychology.

So, come a point in time, Our trading does turn bad....
Very good post.

When you know exactly how you are losing your green pips, you'll get a way to overcome it. Then i "guarantee" you will meet your hourly/dailyweekly/monthly/yearly targeted pips . It will take sometimes for many of us to realise this..

p/s: coffee break.
I am bored..
  • #21,368
  • Apr 22, 2009 7:11am Apr 22, 2009 7:11am
Quoting zurin
its a doji on 8hr chart.....
Share la Zurin TFH8.

The news start to take effect now... muahahaha... I agree Sham, tough market condition. It goes down again after news...

regards,
  • #21,369
  • Apr 22, 2009 7:18am Apr 22, 2009 7:18am
Quoting G33maroon
Very good post.

When you know exactly how you are losing your green pips, you'll get a way to overcome it. Then i "guarantee" you will meet your hourly/dailyweekly/monthly/yearly targeted pips . It will take sometimes for many of us to realise this..

p/s: coffee break.
Careful on hedging guys, DO NOT SIMPLY HEDGING unless you know what you are doing. With my knowledge that I have now, I can't agree more to Wormboy view. Better close the trade and take new trade.

I would like to hear other opinion on hedging. I see some EA using this method.

regards,
  • #21,370
  • Apr 22, 2009 7:57am Apr 22, 2009 7:57am
FREE FALL!!!

p/s: Dang!!! I was away when it happened... chance to SFB (SELL FROM BOUNCE) was wasted. Nevermind... catch the next train.
  • #21,371
  • Apr 22, 2009 8:59am Apr 22, 2009 8:59am
At this moment, I'm looking forward for a further bearish continuation trend either to complete subwave v in white or subwave iii in yellow. Otherwise, please be careful for any possibility towards the alt count in magenta. Good luck.
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  • #21,372
  • Apr 22, 2009 10:14am Apr 22, 2009 10:14am
Quoting khelemen
Share la Zurin TFH8.

The news start to take effect now... muahahaha... I agree Sham, tough market condition. It goes down again after news...

regards,
it is an indicator named largetimeframe,
you can set the tf as you wish......
Attached File(s)
File Type: mq4 LargeTimeFrame.mq4   4 KB | 417 downloads
at last i`ve found a holygrail........
  • #21,373
  • Edited 11:06am Apr 22, 2009 10:34am | Edited 11:06am
Quoting wormboy
You ought to have a disclaimer for newbies regarding the above statement. It's not a healthy practise to hedge unless you are absolutely sure of what you're doing. Never look to lock losses, only lock winners. If the trade turns bad, never hesitate to close the position. There's always another setup.

Cheers.
I think you fall short there, by not adding this statement too..."
Then reevaluate further risktaking , not just looking at charts and
but also our "wallet"funds,add more post of not. so on"..

Its should mean other strategies too..stoploss etc, and so on.

Anyway thanks bro for being extra caution.

p/s I think people confuse, between Martingale and Simple Hedge.
  • #21,374
  • Apr 22, 2009 10:40am Apr 22, 2009 10:40am
Quoting zurin
it is an indicator named largetimeframe,
you can set the tf as you wish......
Thanks Zurin,

will try.

regards,
  • #21,375
  • Apr 22, 2009 5:18pm Apr 22, 2009 5:18pm
Quoting khelemen
Careful on hedging guys, DO NOT SIMPLY HEDGING unless you know what you are doing. With my knowledge that I have now, I can't agree more to Wormboy view. Better close the trade and take new trade.

I would like to hear other opinion on hedging. I see some EA using this method.

regards,


Nothing wrong with hedging. Its a tool to control risk. What makes it wrong is when someone has the idea of always in hedge every time every minute. We hedge when we are in uncertainty for "certain period". Its inefficient to hedge spot fx with spot fx.

Anyway, being able to buy and sell simultaneously is an advantage especially for someone who has a very broad horizon but at the same time also looking for the retracement. e.g. last two years, if you have been scaling in gbpjpy or eurjpy, you may also take the retracement trade because of high trading range of hundreds of pips retracement. There is other use of it. I am sure you guys know about it.

So the issue is whether you know when to use it and when you should not.
I am bored..
  • #21,376
  • Edited 6:26pm Apr 22, 2009 6:16pm | Edited 6:26pm
Quoting G33maroon


Nothing wrong with hedging. Its a tool to control risk. What makes it wrong is when someone has the idea of always in hedge every time every minute. We hedge when we are in uncertainty for "certain period". Its inefficient to hedge spot fx with spot fx.

Anyway, being able to buy and sell simultaneously is an advantage especially for someone who has a very broad horizon but at the same time also looking for the retracement. e.g. last two years, if you have been scaling in gbpjpy or eurjpy, you may also take the retracement trade because of...
Yes, Thanks for a more experience explaination bro
Sincerely, I hope newbies will read moreabout Hedging Strategies.

p/s Hope newbies dont confuse with Martingale usually used in EA.
Martingale is a gamble strategy borrowed into trading(Commodities and Forex.etc)
Simple Hedging is a natural part of Trading Strategy, Scalping is also natural part of Trading.
  • #21,377
  • Edited 8:58pm Apr 22, 2009 8:46pm | Edited 8:58pm
Quoting Satni
Yes, Thanks for a more experience explaination bro
Sincerely, I hope newbies will read moreabout Hedging Strategies.

p/s Hope newbies dont confuse with Martingale usually used in EA.
Martingale is a gamble strategy borrowed into trading(Commodities and Forex.etc)
Simple Hedging is a natural part of Trading Strategy, Scalping is also natural part of Trading.
Martingale strategy is double up when losing. it has nothing to do with hedging. Honestly i think doubling up when losing is only okay if we have unlimited amount of trading capital which may be impossible. I am not familiar with this strategy as I dont see advantages of it. However, i see the merit of "to add to a winner". In a control environment (assuming) where you have the risk parameter and your objective clearly defined, when getting a winner, you may want to step up your positions (adding to a winner). Stacking it up so the first several positions will be always a winner. How much you earn (or sometimes lose) may depends to how well you close your positions. So, for me, it is prudent to differentiate on "add to a loser" with "add to a winner".

As for hedging, just to add so that i am more clear..as far as i know it has never been intended to help to avoid loser. So its wrong for those with mentality that hedging to avoid losing. Hedging is to minimise risk or exposure. Btw, hedging will boost profit? This i am not sure. Maybe but maybe not, because what i know is that hedging is neutral strategy.
I am bored..
  • #21,378
  • Apr 22, 2009 9:31pm Apr 22, 2009 9:31pm
At this moment, I'm looking forward for a true breakout towards the bearish continuation critical line 2 to bolster the bearish retracement trend secnario either to complete a major corrective wave b in white or yellow. Otherwise, please be careful for any bounce scenario and any possibility towards a bullish continuation trend refering to the alt count in magenta. Good luck.
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  • #21,379
  • Apr 22, 2009 11:06pm Apr 22, 2009 11:06pm
Quoting G33maroon
Martingale strategy is double up when losing. it has nothing to do with hedging. Honestly i think doubling up when losing is only okay if we have unlimited amount of trading capital which may be impossible. I am not familiar with this strategy as I dont see advantages of it. However, i see the merit of "to add to a winner". In a control environment (assuming) where you have the risk parameter and your objective clearly defined, when getting a winner, you may want to step up your positions (adding to a winner). Stacking it up so the first several...
Very true indeed.
Hopefully,many won't be misled again and again! Tq bro!

p/s When I got hold of an ebook, I'll post a file link here free!
  • #21,380
  • Apr 22, 2009 11:19pm Apr 22, 2009 11:19pm
Quoting G33maroon
Martingale strategy is double up when losing. it has nothing to do with hedging. Honestly i think doubling up when losing is only okay if we have unlimited amount of trading capital which may be impossible. I am not familiar with this strategy as I dont see advantages of it. However, i see the merit of "to add to a winner". In a control environment (assuming) where you have the risk parameter and your objective clearly defined, when getting a winner, you may want to step up your positions (adding to a winner). Stacking it up so the first several...
To me Martingale strategy is good if everybody knows how & when it can be applied. Well, of coz I only realize this after several magin call using this strategy (very expensive lesson but really worth it). Just to share, we can apply the strategy only when all these conditions met;

1. We must follow master trend. Only long in uptrend and short in downtrend;
2. The price is retracing / consolidating / correcting from master trend;
3. Only enter when reversal pattern + overbought / oversold condition already astablished;
4. Start with 1% of the equity;
5. Put pending order at support line (for long position) and resistance line (for short position). Support & resistance should be a mixture of price action (bounce back at certain price), fibo & R/S (pivot calculation).
6. Max 15% of total equity (start with 1%, followed by 2% at the immediate support/resistance line) then 4% at the 2nd support/resistance line & lastly 8% at the 3rd support/resistance line). The major support/resistance line when the price action, fibo, R/S are near to each other.

Just sharing my thought...
Trade sampai lebam...
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