ok everyone, we have a bar forming, in 4 hours, we will be setting out pending orders.
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Dislikedok everyone, we have a bar forming, in 4 hours, we will be setting out pending orders.Ignored
DislikedWe will now update what the stoploss will be for both pending orders (both hedging and non hedging) to 152.45Ignored
DislikedPharoah,
Are you obtaining your data from FXDD or a different broker? Sorry..I just don't comprehend how you have arrived at 152.45 for both pending orders. Please elaborate...thanks.
Ignored
DislikedWhoops...my error! Somehow I managed to have a Period 3 instead of the correct Period 2 for the Red MA.
So...we have just 1 Long pending order and 1 Short pending order, and until a breakout, both long and short pendings use the same SL point which for this 4 hour period is 152.45
Please tell me I've got it correct, now.Ignored
DislikedHi Pharoah,
Great that you opened your own thread for your 4H Breakout with your stoploss system.
I see your post (2 back) about the 2 shift on the red ma, allows full price movement being captured.
Do you have any particular reason for the black ma's 5 shift setting?
I recall from sometime back that you were just eyeballing variations & decided on these settings.
When you decided on the 2 shifted ma's, were there any others that had close fits to what you were looking for?
Have been playing at doctoring 1 of RRs eas to follow your system.
Of...Ignored
DislikedWell, my luck shows itself again and again, Almost immediately after I went to sleep last night, there was a breakout (go figure) and I was unable to hedge my hedging account, because I was sleeping. So we have lost on our first trade of the week, yay...
Long was triggered at 153.15, and stopped out at 152.57, which was the last place I updates my stoploss.
So currently for me, both hedging and non hedging accounts are the exact same still, I'm expecting there to be another breakout about half hour after I go to sleep tonight. (just kidding)Ignored
DislikedPharoah,
Thank you for sharing your system.
Could you please help me to understand how you could avoid the loss by hedging if the price after triggering the buy stop came back immediately to breakout zone
Thank you
Alfa99Ignored
Dislikedthere is no avoiding a hedging loss, the whole point of a hedge is to prevent loosing more than a hedges loss, for example, if this trade were to turn around, and go against us, that hedge would be put in place to buy at the exact same price the original order was sold at, and has a take profit of the exact same price as the original orders stoploss.
Instead of looking at it like "what happens if the price retraces enuff to trigger, then drops again to hit stoploss" in which case you'll lose a maximum of 20 pips (in a good case scenario, because...Ignored
DislikedPharoah,
Sorry, I didn't explain myself clearly.
My question in other words is:
If you wouldn't go to sleep how and when you would set the hedge pending buy stop order on the top breakout zone if the price moved very quickly at that point?
Thank you
Alfa99Ignored