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AUD/USD

  • #20,621
  • Mar 30, 2010 11:13pm Mar 30, 2010 11:13pm
Must go take a nap. Be back around 3:30am est. Happy Pip Hunting!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #20,622
  • Mar 30, 2010 11:13pm Mar 30, 2010 11:13pm
Quoting MarcVUM
Sweet! I don't know where Clouds went.??
we know he's short anyway lol
i think this aint over but i don't have an idea yet where it'll stop yet

i have 91365 and 91270 as the next S
approaching H1 200ma though 91408
  • #20,623
  • Mar 30, 2010 11:14pm Mar 30, 2010 11:14pm
Quoting MarcVUM
Must go take a nap. Be back around 3:30am est. Happy Pip Hunting!
alright catch you later
  • #20,624
  • Mar 30, 2010 11:14pm Mar 30, 2010 11:14pm
Quoting MarcVUM
IMO, it's not the best thing since sliced bread. Try it out on a demo account and you'll see. I only use it when in a pickle but usually just adjust my cost basis to get out of a jam.
I don't use it all the time either... but in trades I feel strongly about that are taking too long and/or not going my way at first, then I hedge (I do have a plan for a complete exit before I get in btw! lol) ... for example, short I'm AUD overall until we get a nice correction in the US stock market... but I hedged on the long side several times (glad I did too this round!)
  • #20,625
  • Mar 30, 2010 11:18pm Mar 30, 2010 11:18pm
Quoting thadakman
That's where the strategy comes (and the whole point of hedging)... the market does not move in a straight line... hedging allows for several opportunities for entries and exits (some which just happen to be open simultaneously but closed at different times of course) to ride the up and down waves within the 1000 point move.
I have also hedged the same code and if one is prepared to scale in and out I have found it works good for me.Sure I can see where you guys are thinking of one just contra's the other which it does if you just leave them but not if you trade them.

The yen is being hit somrwhat at present.
  • #20,626
  • Mar 30, 2010 11:43pm Mar 30, 2010 11:43pm
Hedging is a large part of my trading, http://cdn.forexfactory.com/images/icons/icon14.gif and you don’t need to be at the computer all the time.
Look at the pic.
The top green line is a buy in drawdown.
The next green line is a sell in profit.
The next red line is the take profit for the above sell, followed by a green sellstop and so on down the chart.
I have the same going up, which can’t be seen. My top buy will hit it’s tp and open another buystop ect.
I have sells and buys open all the time. In AUD/USD try to have more buys than sells because of Swap.
If you are going to use hedging , then you must have good money management.
Trade with a volume of no more than 0.01 for each $1000 in your account. Ie $5000 account volume 0.05, $10000 account volume 0.1 etc.
Also keep a watch on the bottom left side of MT4,
Balance: this is the amount in your account
Equity: this is the amount available if you close your account, ie Balance - Drawdown.
Margin: this is the amount at which the broker will give a margin call.
Free Margin: this is the amount that you have left. When this reaches your Margin, you have a margin call. Check with your broker as to what he will do at a margin call. Some will shut you down, some will close the largest trade in minus only and let you continue.
Margin level: Advice I was given on this was to keep it above 1000%.
Peter-FX
Attached Image (click to enlarge)
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  • #20,627
  • Mar 31, 2010 12:19am Mar 31, 2010 12:19am
and a shower... a nap etc.

Quoting thadakman
That's where the strategy comes (and the whole point of hedging)... the market does not move in a straight line... hedging allows for several opportunities for entries and exits (some which just happen to be open simultaneously but closed at different times of course) to ride the up and down waves within the 1000 point move.
  • #20,628
  • Mar 31, 2010 12:23am Mar 31, 2010 12:23am
Peter, thanks for your detailed response. I'm not sure I understand it, however. Are the Buy and Sell lines at the top, positions or orders? If they are orders then you've set up a straddle and it makes perfect sense. If they are positions, one long and one short, you've got a hedge, with a loss, that's locked in. The trade is over. At the Take Profit line, you'll simply be closing the short position at the same loss that you started with. You will be back in the market with a long position.
They call me "Hondo"
  • #20,629
  • Mar 31, 2010 12:24am Mar 31, 2010 12:24am
Quoting thadakman
I don't really think you should be making a blanket statement about hedging... rather, you should tell him something like, "Proda, I find no benefit to hedging myself"...

Trust me, I'm not the only one who has benefited from hedging; am I trying to convince someone to hedge? No... but I'd tell him/her about the benefits I've encountered from it and let them decide on their own... basically, everyone needs to just find a system/strategy that they're comfortable with, understand, and that can make them money over time regardless of whether or...
AGREED!

I hedge ...if you want to hedge prwctice in a demo account....
if you do not like to hedge ...welll that is your style but doesnt mean we should discourage others from learning just because for you doesnt make sense....try hedging you like it use it you dont like it then dont...as simple as that.
  • #20,630
  • Mar 31, 2010 12:34am Mar 31, 2010 12:34am
Quoting eventtrading
Peter, thanks for your detailed response. I'm not sure I understand it, however. Are the Buy and Sell lines at the top, positions or orders? If they are orders then you've set up a straddle and it makes perfect sense. If they are positions, one long and one short, you've got a hedge, with a loss, that's locked in. The trade is over. At the Take Profit line, you'll simply be closing the short position at the same loss that you started with. You will be back in the market with a long position.

eventtrading
As you can see by the pic coming down I have sell followed by sell tp followed by sell-stop followed by sell tp etc.
The idea of this is to only have one sell open at a time. And for going up replace sell with buy.
After a sell is closed and the next is opened, I then consider putting a buy-stop above the price action.
The most important part of my post is the Money Management.
Peter-FX
  • #20,631
  • Mar 31, 2010 12:40am Mar 31, 2010 12:40am
Woohoo, got my computer fixed. I'm back in the game. Seems I missed a lot of healthy hedging arguments
  • #20,632
  • Mar 31, 2010 12:41am Mar 31, 2010 12:41am
I successfully hedge just before a big news announcement like NFP...say i take two positions, and it jumps 100 pips. when it starts to loose momentum i sell the winning position to break even then more times than not it will retrace and I'll pick up the difference. this way you dont have to know which way its going to go u just want a big move, and if you dont get a big move then you just sell both positions and your only loss is the spread.
  • #20,633
  • Mar 31, 2010 12:46am Mar 31, 2010 12:46am
Quoting Saxon
Woohoo, got my computer fixed. I'm back in the game. Seems I missed a lot of healthy hedging arguments
welcome back saxon, what happened to your comp lol
you also missed the aud dive
  • #20,634
  • Mar 31, 2010 12:48am Mar 31, 2010 12:48am
Hedging is really a risk management tool...

It's not wrong nor right...few ways to utilise hedging can be to buy and sell the same currency or with different currencies....

It can also be used to offset a margin call...although some may believe this strategy can be more risky if the currency goes one way....this is where SLs will have to come in place...but I understand what you're trying to say....however when there is quite a bit of volatility, it can be a great tool to use...

Correct me if I'm wrong...



Quoting eventtrading
Peter, thanks for your detailed response. I'm not sure I understand it, however. Are the Buy and Sell lines at the top, positions or orders? If they are orders then you've set up a straddle and it makes perfect sense. If they are positions, one long and one short, you've got a hedge, with a loss, that's locked in. The trade is over. At the Take Profit line, you'll simply be closing the short position at the same loss that you started with. You will be back in the market with a long position.
  • #20,635
  • Mar 31, 2010 12:51am Mar 31, 2010 12:51am
"After a sell is closed and the next is opened, I then consider putting a buy-stop above the price action".

If your buy-stop is hit you are hedged, at a loss. A buy-stop or a simple old stop-loss, it doesn't matter. You lost this particular trade.

The only point I've been trying to make is there is absolutely no difference between closing the trade or hedging the trade. Both take you out of the market.

Anyway, good trading & good hedging to all.
They call me "Hondo"
  • #20,636
  • Mar 31, 2010 12:56am Mar 31, 2010 12:56am
Quoting OvT
welcome back saxon, what happened to your comp lol
you also missed the aud dive
It started smelling like smoke in my office and it was coming from one of my terminals. Looks like I fried it, oh well. Semi-Fixed now.

Ya, interesting dive eh? I got us bouncing of my H1 200MA right now. We are between my lower MAs on H1 and might be containing. My short-term standard dev and bollinger width has died down giving me some time to get my setups and limits/stops in place. How did you fair OvT? Knowing you, you probably had a nice 50 lot short on 9200 Nice to be back though, having your terminal crash is like losing your cell phone.
  • #20,637
  • Mar 31, 2010 1:21am Mar 31, 2010 1:21am
Quoting eventtrading
[font=Arial]"After a sell is closed and the next is opened, I then consider putting a buy-stop above the price action".

If your buy-stop is hit you are hedged, at a loss. A buy-stop or a simple old stop-loss, it doesn't matter. You lost this particular trade.

[size=3][font=Arial][color=black]The only point I've been trying to make is there is absolutely no difference between closing the trade or hedging the trade. Both take...

You can't do what I'm doing in the United States. The new laws last year stop you from doing this. Also the trade may only be in the minus for a few minutes and if price action comes back, I have closed both trades for a profit.
I've been doing this for quite some time.
Peter-FX
  • #20,638
  • Mar 31, 2010 1:40am Mar 31, 2010 1:40am
Quoting Saxon
It started smelling like smoke in my office and it was coming from one of my terminals. Looks like I fried it, oh well. Semi-Fixed now.

Ya, interesting dive eh? I got us bouncing of my H1 200MA right now. We are between my lower MAs on H1 and might be containing. My short-term standard dev and bollinger width has died down giving me some time to get my setups and limits/stops in place. How did you fair OvT? Knowing you, you probably had a nice 50 lot short on 9200 Nice to be back though, having your terminal crash is like losing your cell...
ouch, overheat? from overtrading perhaps haha, your terminal is on 24/7 i presume lol, good that it's running again now

yep i can see the 200ma bounce, how do you know btw lol, i just closed my short from the first bounce for 35 pips, am unsure of the direction now so i TPed it

another bounce from my MS3 91365 but looks like it has the pressure to push further down, i have S3 at 91270

perhaps the 200 pips rally retrace is fueling today's news, or the news catalyses the retrace

i shall take a break till euro session
  • #20,639
  • Mar 31, 2010 1:49am Mar 31, 2010 1:49am
Quoting OvT
ouch, overheat? from overtrading perhaps haha, your terminal is on 24/7 i presume lol, good that it's running again now

yep i can see the 200ma bounce, how do you know btw lol, i just closed my short from the first bounce for 35 pips, am unsure of the direction now so i TPed it

another bounce from my MS3 91365 but looks like it has the pressure to push further down, i have S3 at 91270

perhaps the 200 pips rally retrace is fueling today's news, or the news catalyses the retrace

i shall take a break till euro session
Ya, I am off AUD for a few hours until there is some direction. I just made some pips watching M15 GBP/USD flirting with 100MA. It was bound to take a dip and finally did.

For AUD, remember back a day or so ago when we were showing significance on 91365. Looks like we are back there. I want 91631 to contain us as MAs move down to support. Right now I am really watching my M30 window.

Also, been watching HKD for fun; trying to make some sense of it. Man that thing's slow. Some people meditate to calm down, I watch HKD
  • #20,640
  • Mar 31, 2010 2:49am Mar 31, 2010 2:49am
Possible trade?? Looks promising


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