EURUSD

good work 21vs7..

aud could be in a correction to the upside that it might ve finished sloss 1.06 and first target 1.04

thanks..keep on collecting!

________
now looks interesting..i have 03ish..if breaky shouldnt be a fakkky i guess

perhaps worth a try

haven't seen the chief yet... =/
*bummer

its the aud strenght here yes whats keeping it over. Still, I think there is mooo to come for the upside. Well, at least is possible.

looking to buy tom AUD from other crosses..just need a retrace. gbpaud looks nice, whats your view on this pig? even audchf

I bought some Euros at 1.3106
Targetting 1.3480

GL

EURO index is not bending down yet, so it should be pretty safe to scalp some bulls here. 1.3128

trying a s aroundish

just my opinion, the correlation of everything in the market is still pretty messed up compared to the past. I used to do many correlation, but since stopped when seeing most going haywire over the past few months.

Same but target 3350 for me

Agreed just watch PA on key point

How to manage a hedging position on eur/usd - LIVE!!!!

Hello guys!
I want to share with you my experience in Forex.....especially to not lose money (I guess what everyone wants). So, first of all I want to apologize for my poor English. If it is not clearly what I want to say pls correct me or ask me what is not clearly understood.
Let's get to work:
Yesterday I opened 2 positions on EUR / USD:
# 1 BUY at 1.3255 (you'll find on attach as # 1B)
# 2 Sell at 1.3245 (# 1S)....S from SELL and B from BUY.

These positions are on a live account..and is of 0.1 lot each one. Pls see the attached file. Pay attention pls : I DON'T USE a S/L or T/P!!! when I open a o position but I set a mind one. WOW...that's cool, isn't it?. Let me explain more, when I open a position I have set in my mind a SL and if the trend work against me open a new opposite position when the price hit my mind SL.....this is just I call "lock" .....that mean to lock your loss and try to covered this loss in other time and favorable situation. Of course I wouldn't like to happen this and wish the trend work in my favor....but ..sometimes...in forex market there are many unexpected news or rumors that moves the market in directions unpredicted. So many times I open a position and market goes in the direction predicted by me (as R, S or indicators) but after that some rumors turning the market against me ..hitting my SL and after a few hours return to the initial trend and reach TP. How many of you happened like this. I know, so frustrating.
That's now for this situations I use "lock". To protect my capital and try to get back on the right track after the market eating all these kind of news.

So, don't ask me why I've opened 2 positions in the different direction this is just for explain how to use hedging to protect your equity. So, as you see it's just 10 pips gap between buy and sell position. I have in mind to win from both position or less to be zero profit.
Let's continue what I did...the first sell position was closed with profit of 80 pips and entered with another sell position (# 2S at 1.3187)..till now I earned 22 pips from sell position ..I mean gap between # 1S exit and # 2S entry. At this moment the gap between the first Buy and Sell Position was covered by 22 pips profit but want to continue to make profit.
At this moment I have 2 choices: one to close all position (Buy and Sell and made 12 pips profit) or two continue to maximize the both positions in order to increase my capital. For me a profit of +50 pips seems good, over +50 pips is best and under is unacceptable. That's my idea abut forex trading. Im not a scalper.
Therefore for me is important to continue to maximize my profit. I will continue to show how the two positions evolve in the coming days.

I want to share this because from my experience I learned that its most important to not LOSE MONEY!!..and after 3 years of live trading I try to find a method to do this. I find hedging very interesting and help me to achieve my goal.
For beginning I will show you how to work with "negative hedging " after that want to share with you "positive hedging" ....which will be more interesting for those who want to not close transactions on a minimum profit.

If you see this post interesting pls feel free for any feedback. I hope it will be helpful .. and if you win using this info .. please do not forget me lol!

best trade!

aud is very strong going up from the lows 1.034 but it s against a major daily trend line which could turn it down and im looking for it to start the decline to 61.8%fib of the rally .958 and 1.061 and that comes to .9983 . i ll do a chart of the daily tf to show the traingle

I think you will reach your target end of next week (8 days later).
But i will wait for 2 weeks to take my profits.

Good Luck, my friend

There is an easier way of hedging. u can just put a buy limit or buy on live rate if you want to trade it up and believe its going up, accompanied with a sell stop and cut ur buy position once a key level is gone, and vice versa. such positions plotting requires good understanding of the market volatility and s and r.

or u can place a buy lo, sell hi within a range, and wait for breakout of that range to close the wrong position, this way u cut the loser short and ride on winner, as soon as ur loser is cut, ur winner should already be BE + pips minimal and trade a possible further breakout. but range is very dependable on tf and on the market u are trading.


one simple scenario here, buy eur/usd 1.3085/87 or even 81 see how lo u can hop in, sell eur/usd 1.3117/20. see which level get broken. to shows a r turn s or s turn r, sometimes pull back don't happen then u need to place ur stop loss accordingly after r and s.

thanks for sharing, u can start a thread on that if u find ur strategy working for u and wants to shares with others.

By when do you expect this target to be reached...??

it doesn't matter that I am long or short .

We can see a 50 pips spike to the 1.3165 before NY session close.

GL

No idea

am still looking for 61.8 . won't know when it will get there, or maybe not. normally price hits 50, i expect 61.8 to be hit too.