DislikedMy MT4 indicator and this: http://www.actionforex.com/technical...-200603215759/ tells me that R3 is at 0.8649Ignored
Thanks for the link mate, cool site.
- #3,103
- Edited 5:43am Sep 8, 2009 5:31am | Edited 5:43am
Skiman
Is this what they call a 'hedge'?
Thanks for all the advice guys - appreciate it
A hedge is when:
You buy aud at .8500. On your account is only 100$ and you buy 1 lot, so 1 pip is 1$, The aus$ felt 80 pips and you see that you are about to loose all of your cash, so you hedge your position that means that you sell the same ammount that you previously bought. Your" loss/profit is stalled altough market is active. I hope you understand cause my english is not very good. On Slovene it would be much easier for me.
Thanks for that - i understand what you mean. It was as i expected (in rough terms). Cheers.
- #3,106
- Sep 8, 2009 6:09am Sep 8, 2009 6:09am
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
The Thief of Wall Street
- #3,107
- Sep 8, 2009 6:13am Sep 8, 2009 6:13am
- Joined Oct 2006 | Status: Trader | 7,219 Posts
i really value your comment and its reinforce me to learn and to practice to be a better trader
but that's very kind of you. Anyway, posted some of this stuff elsewhere, but thought you guys might like to have a look.SSI: USDCHF Ratio at Bullish Extremes as Pair Slips to a Fresh Yearly Low
Tuesday, 08 September 2009 09:20:44 GMT
Written by David Song, Currency Analyst
http://cdn.forexfactory.com/attachme...1&d=1252403136
Intraday Highlight:
USDCHF - The ratio of long to short positions in the USDCHF stands at 4.29 as nearly 81% of traders are long. Yesterday, the ratio was at 3.09 as 76% of open positions were long. In detail, long positions are 24.0% higher than yesterday and 33.9% stronger since last week. Short positions are 10.8% lower than yesterday and 24.5% weaker since last week. Open interest is 15.5% stronger than yesterday and 21.1% above its monthly average. The SSI is a contrarian indicator and signals more USDCHF losses.
USDX 4 Hour Chart
USDX Daily Chart
And for those of you who like to have a little read, here's Bank of Scotland's Daily Market Strategy
Good trades!
.
Nothing worth having is easy.
- #3,109
- Sep 8, 2009 6:23am Sep 8, 2009 6:23am
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
The Thief of Wall Street
And for those of you who like to have a little read, here's Bank of Scotland's Daily Market Strategy
Attachment
Good trades!
.
"Hey mate.. can you please explain what that means - to 'lock in pips synthetically'?"
As (if) price falls and my total profit increases I would start locking it in with synthetic hedges along the way to allow further entries on pull backs whilst leaving my profit flexible as oposed to crystalized by a stop loss. Theoretically its not too different form using stops but it is more flexible and allows you to average your break even price up or down at prices not displayed by the market.........
i.e Sell AUD/USD as profit comes lock in with synth e.g Short USD/JPY long AUD/JPY it is limited to spread and profit locked. if price pulls back you can open another short and the theoretical B-E price will be mkt price + profit exposure, averaging a better price. a few option at that point e.g you can close synth and put stop in above res and you have a better position etc.
Ben is right into Synth read a few pages back he supplied a link that explains the concept. Im still getting the hang of it.
As (if) price falls and my total profit increases I would start locking it in with synthetic hedges along the way to allow further entries on pull backs whilst leaving my profit flexible as oposed to crystalized by a stop loss. Theoretically its not too different form using stops but it is more flexible and allows you to average your break even price up or down at prices not displayed by the market.........
i.e Sell AUD/USD as profit comes lock in with synth e.g Short USD/JPY long AUD/JPY it is limited to spread and profit locked. if price pulls back you can open another short and the theoretical B-E price will be mkt price + profit exposure, averaging a better price. a few option at that point e.g you can close synth and put stop in above res and you have a better position etc.
Ben is right into Synth read a few pages back he supplied a link that explains the concept. Im still getting the hang of it.
"Hey mate.. can you please explain what that means - to 'lock in pips synthetically'?"
As (if) price falls and my total profit increases I would start locking it in with synthetic hedges along the way to allow further entries on pull backs whilst leaving my profit flexible as oposed to crystalized by a stop loss. Theoretically its not too different form using stops but it is more flexible and allows you to average your break even price up or down at prices not displayed by the market.........
i.e Sell AUD/USD as profit comes...
lol.
Thanks mate, you explained it well and im sure at some point after ive re-read it a few more times it might start to sink in.
Best of luck with your trades!
- #3,120
- Sep 8, 2009 9:15am Sep 8, 2009 9:15am
- | Joined Apr 2009 | Status: Pips Farmer | 5,211 Posts
HaHa, no worries!
I probably made it more complicated that it needs to be, but have not fully developed its use myself.
Im just using it as a position management technique for a swing trade to the downside
AussieMatt, use the twin first ! and control the exposure: say you are short aud/usd and she prove you wrong you had to buy aud/jpy long to stop bleeding , its eliminate stop loss function then back to your original plan which is to short aud/usd, find the better trade or price to add and when you are in profit again you buy aud/jpy long to locked in profit , it eliminate "take profit" function . Only if your trades in profits you may look into shorting the usd/jpy at best price