Tired of giving back profit? Here's my strategy

So for today:
Still short from 1.2493
Still short from 1.2467
Long from 1.2433
Closed sell from 1.2458 +23

edit: closed buy from 2433 +22
added sell@ 1.2457, sl 67
holding 2467 short and 2493 short...
bed tired go where you want euro...

Knocked out of 1.2493
Knocked out of 1.2467
Shorted at 1.2550, (sell high buy low) will buy if/as we drop and stall...
1.2457 sell was -10

UJ dropped like crazy yesterday, I should have been buying more eur but I was stuck in bear mode

edit: looking for a close of the hourly above 2530 something or below 2510 to give some intraday direction..

edit2: closed 1.2550 +40 sold again !.2529

edit3: sold at 1.2506 bought 1.2490, tp my entry at 1.2506, just tpd +16, that was a mistake should have left that one running oh well and my 1.2529 tpd at +50 forgot to change the auto +50 tp.
Never mind, my account is getting bigger anyway. For now
Still short 1.2506, sl goes over 29. Not loving that hourly pin but it did at least closed the hour under that 1.2510 area...if it goes up I will take a hit and sell higher

Bought again around 90 actually 89, see which way it goes from here

Think I am going to end this thread, its going well, I like the way hedging a position is working for me, can't see any interest so I may as well continue to trade on my own
Good luck guys! Happy Trading.

Update:
Less than 2 weeks implementing this hedging technique in my (live) accounts show 25% gain, small losses well covered by the gains and low risk. Sell high buy low, hedge(I leave orders) when you get to a support or resistance with a small stop - in fact you can judge by the reaction it will be turning or carrying on, but either way you are covered. Great results so far in any case. Merry Christmas and Happy New Year all!

Currently short on eur from 1.2263, took a long at 1.2170 so have locked in almost 100 pips.

update:

Loving this, still playing both sides of the market. Have two long eurusd positions from 1.06xx and higher up and currently have two shorts in the 1300 area. Why give back profit when nobody really knows where the market is going...
When we reach s/r area, or when you see price is stalling, I add a short or long, (in this case short) using pa and divergence as a guide. I use tight stops because price can keep going, but if it drops/rises I can put my sl to be and ride it until we reach the next s/r, where I close or hang onto the position depending on the pa in that area. As a result, you can hang onto positions without losing the pips you have gained, with low risk. I can have a run of small losses before I get the right add on but it pays off when there is a sharp rise or drop. I keep positions going for as long as possible, in this case I am targeting the 1.1200- 1.1175 area for my shorts,(61 fib area) will wait to see if there is any pa around there to tell me if I should close my shorts or hang on to them and whether I want to close or hang onto my second long.

Nice bounce off the 50 fib so I added another long at 1.1230 sl under low. I have learned that it is better not to second guess direction- better to add to longs than to close existing shorts. It can easily turn around and test 1.1200 or the 61 fib before going up, if it is going up...or it could continue down.

Attached Image (click to enlarge)

Trades update:

Shorts knocked out at 1.1327. I widened stops overnight and adjusted to 27 over todays high this morning..I find that the longer price stays in an area the more likely it is to break and continue.

Closed my long from 1.1230 at +40 last night (should have held but oh well I was tired and felt like paying myself something)
Added a short below 90 at 84 sl 97 in case 90 held, so -13 on that one

Short at 1.1297 -30
Short at 1.1320 -7

So basically overall lost 10 pips to protect the profit I was holding. I consider it a small price to pay because you can never be sure when price will reverse and I hate giving back profit!!!

Still holding original longs +688 and +257

Will wait for pa and divergence to tell me when to add new shorts...watching 1.1380 and 1.15 areas

New short (resistance 1.1380) at 1.1374, sl over high

This is a JIC trade (just in case we drop from here) low risk to protect longs. Will add if we break below 45 and I get hourly confirmation

If I didn't already have two longs I would probably add a long here with stop under 1.1309. 4 hour rejection...will wait for a retest of high and add a short if this one survives

Shorted at 1.1309, sl at 16. If this works and we break the bottom of the 4hr bearish bar around 1.1275 I will take some profit on my 2nd long...we could retest that 1200 area. If we go up I will see how we react higher up

Stop too tight -7 on last short...

Have added another long at 1.1280, 61 fib of last up move s/r and pin, on hourly. stop below low. Its pushing down but this is a logical place to go long in my books...still short from 1.1374 and had a 22 pip loss on a limit short from 1.1273.(break of 4hr pin) Limit orders don't work well for me, but you gotta have a life..also took some profit on the short from 1374@1290 =84/2=+42

+42-7-20=+25 with 3 longs running and 1/2 short from 1374. If we drop, I am unprotected so I will see where I add some shorts.

new short 1.1336 sl 1.1352, resistance bounce close to 61 fib-may not get far but better safe than sorry

S0

lots of struggling up above 1.1300, before we dropped back to the 61 fib just now.

I added a short at 1.1307 and bought 1.1218 on the bounce down to the fib. Are we ready to go back up?
Not sure, so I added a JiC short just now at 1.1263. Lets see if that will last, depends if we are going down. We may just flop around the 1180-1220 area for a while, who knows...

My objective is to have as many trades running in the right direction as possible...if we break the 1380 high Im guessing we are going to 1500, and if we drop next stop 1100...

I find that the longer price stays in an area the more likely it is to break and continue

We are not bouncing so I wouldn't be surprised if eur continues down...

LOL
knocked out of my last short, still in earlier longs and most recent at 1.1219. this strategy keeps me humble...and protects me from myself

in again short in same area sl over 79. We can't seem to break this resistance

Update:

knocked out of long at 1.1219 sl had been moved up to b/e

re-entered long just now on divergence on 15m chart sl below low -13 on that one




I find it difficult to update when things are moving quickly, just remember I am always trying to have same number of shorts as longs at best prices possible. This way I am locking in the profit I hold. I sometimes don't trade for days and unless we make a new high or low wherever price is I know I still hold the same profit.

Nice drop through the 61 fib, we should retest 1.1182 area before we contine down so Iwill be waiting to see the reaction there before I add anything. No more long add ons for me now, will be shorts unless something changes

sold 82, If we close an hourly above I will again wait for retest and buy...

New long this am at 1.1198, lets see how far this one gets...

New short at 1.1318


and long again at tl


knocked out -13

added short tl bounce


was not paying attention, ugly hourly pin formed there so keeping stop tight

Just read through this. I could never trade this way, but it looks like it was working for you. Are you still at it? Still on FF?