Hedging existing orders

Hey there.

Does anyone know of some code or an existing EA that can scan through my existing trades and see if a certain trade has gone x amount of pips negative then placing an opposite order of that that was initialy placed (hedging it).

Thanks so much

Xlr8er

Any ideas ... ?

Hi there,

I know this if off-topic from what you are seeking, but have you considered the fact that the only difference between hedging the trade and closing it, is that it costs you far more in commission and swap to hedge the trade?

Please ignore my comment if you don't wish to engage in the merits of hedge trading.....I do understand. I used to be a die-hard hedge grid trader myself until a friend made me understand what I was doing.

The NFA banned hedging for good reason, although I disagree with the way the in which it was implemented and the ensuing unintentional consequences for short term opposing trades within the same account.

I almost agree. I use hedging but never to lock in a loss without a way to close the trade and still make a profit. Unless you have a plan for the stuck trade it may be better to simply close it.

Yes that does make sence to me that closing the order will save you some money... but I am fortunate enough to pay a few cents in commissions and trade on ECN spreads so It only damages my balance by a tiny bit. The hedged trade normally has a Take profit so I normally make my money back in that way.

Thanks for your ideas.