Hedging during GBP Market Time

[klhh]

15 trading days to cover that loss, about 3 weeks if u aim 2% daily. By the way, do u have spreasheet that i mentioned above?

I don have Spreadsheet. Just now down 30% is not my stop loss and also no stop loss, I stop because i tired to monitor and it is demo account. That's why I need an EA to monitor.

 

[buja]

I don have Spreadsheet. Just now down 30% is not my stop loss and also no stop loss, I stop because i tired to monitor and it is demo account. That's why I need an EA to monitor.

U can use FXTradePro EA. u just need to change all the lot progression to 1.0. thats all.

 

[klhh]

New Strategy

Old Strategy

Rules for new strategy:
-when start, B1 and B2 must set stop loss for 10pip or S1 and S2 if starting drop to 1.5500 (stop loss also 10pips)
-for old method, as long as change direction, need 2 opposite pending order, it mean that the current B1 and B2 hedged by S1 and S2
-for new method, B1 and B2 must set 10pips SL to avoid open S1 and S2 in order to save spread
-if no change direction, at (ii), open another B3, with fixed SL 20pips no need modified.
-at (ii), if the price continue up 1.5540 without retrace to (iii), its SL continue to be modified to 1.5530.
-at(iii), B1 and B2 kena SL, and no need open new orders, it is same as old strategy, but the old strategy open S1 and S2 to hedged(wasted 6 pips, why not close B1 and B2 right, I was so ****** ()
- at (iv), change direction, so Open B4, B5(both SL 1.5520), and it need to be adjusted to 1.5530 when the price moved to 1.5540 at (v)

Actually both strategy are same, new strategy no more hedged, only 1 direction, in order to save spreads.

 

[klhh]

U can use FXTradePro EA. u just need to change all the lot progression to 1.0. thats all.

FXTradePro's strategy is different with my strategy.

 

[klhh]

Hello, I would like to explain my newest version of strategy here.

I also hope any coders to help me build an EA, I willing pay the cost.
I use 1000pips as my modal in standard account, 1000usd. So my base lot is 0.1 lot (1usd/pip) used for GBPUSD.

Step 1.

Once the EA attached to chart, it will open 0.2(base lot x 2)lot buystop(BS) and sellstop(SS) 10pip away from current price(assume current price is 1.5660) with 10pips SL for both, and open another 0.1 lot (base lot) BS and SS 20pips aways from current price with both fixed 20pips SL.

Step 2a

If price going up to 1.5670, 0.2lot BS triggered with SL 10pips at 1.5660. Open another 0.1 lot (base lot) BS (1.5690)20pips aways from current price (1.5670) with fixed 20pips SL (1.5670).

Step 2b (opposite direction of Step 2a)

If price going down to 1.5650, 0.2lot SS triggered with SL 10pips at 1.5660. Open another 0.1 lot (base lot) SS (1.5630)20pips aways from current price (1.5650) with fixed 20pips SL (1.5650).

Step 3a

If price going up to 1.5680, 0.1 lot BS (1.5680) with fixed 20pips SL (1.5660) triggered, 0.2 lot Buy Orders (1.5670) SL modified from 1.5660 to 1.5670 (trailing stop 10pips every 10 pips raised from open price). Open another 0.1 lot (base lot) BS (1.5700)20pips aways from current price (1.5680) with fixed 20pips SL (1.5680).

Step 3b (opposite direction of Step 3a)

If price going up to 1.5640, 0.1 lot SS (1.5640) with fixed 20pips SL (1.5660) triggered, 0.2 lot Sell Orders (1.5650) SL modified from 1.5660 to 1.5650 (trailing stop 10pips every 10 pips dropped from open price). Open another 0.1 lot (base lot) SS (1.5620)20pips aways from current price (1.5640) with fixed 20pips SL (1.5640).

Step 4b (from 3b)

If price retrace to 1.5650, 0.2 lot Sell order (1.5650) kena Stop Loss. Open 0.2 lot (base lot x 2) SS 10pips away from current price (1.5650), mean at 1.5640 with 10pip SL (1.5650).

Step 5b

If price go to 1.5660, 0.1 lot Sell Order (1.5640) kena Stop Loss, 0.2 lot SS modified from 1.5640 to 1.5650 with 10pip SL (1.5660).

Step 6b

If price drop to 1.5650, 0.2 lot SS triggered (1.5650, SL at 1.5660). EA will check whether got 0.1 lot SS at 1.5640, if no, only open SS at 1.5640 with fixed SL 20pips(1.5660).

Step 7b

If price drop to 1.5640, 0.2 lot Sell order at 1.5650 SL modified from 1.5660 to 1.5650, EA will check whether 1.5630 got 0.1 lot SS, if no, only open 0.1 SS at 1.5630 with 20pips fixed SL(1.5650)

When to Take Profit?, normally I set 1% of my capital, as example above, 1000usd is my capital, then my target will be 1010usd, when Account Equity more than 1010usd, the EA will stop. So the EA repeat all the steps above until hit pre-set target.

 

[klhh]

The concept very easy, let me summarize it.
As long as change direction, there are need to open 2 x base lot size of order type, for example, if the price drop from top, mean changing direction, in this time we need to open (2 x base lot) sell order, if previous got (2 x base) lot of Buy order, it is hedged, so we need to close the (2 x base) lot of Buy order so that we do not open (2 x base) lot of Sell order

Please compare both picture, actually they are same, above with hedged,waste 3 pips spread, below without hedge, save 3 pips, we are using below strategy

 

[mczoni]

i bro, do alwys update your idea in this startgy...

 

[christmas]

money management strategy...

well.. good luck to everyone ~

 

[klhh]

i bro, do alwys update your idea in this startgy...

I am waiting for coder to help me create the EA

 

[timizero]

Thanks to TT for sharing this strategy...

IMO this strategy is mathematically correct although there are factors that need to be considered when talking about real market....so i only have 2 questions..

1. what would u do when market ranges between your 2lot BS and 2lot SS for let say few hours(in this case between 1.5670 and 1.5650 levels)...so my question is do u have any maximum amount of losses to take? if yes then this technique is no longer worth it in terms of R:R since your target is only 1% or 2% while risking 2% of each position...imagine 5 of 2lot positions have been stopped...:-?

but of course theoretically after sideways there is always a breakout...)

2. knowing gbpusd, it is not impossible for price to whipsaws during news or rumors....do u have any plans on this situation? in this case of 10 pips range/gap it would be hard even for EA to send request to your broker's server (depending on broker though )...

i know using your technique there would not be a problem if price "terjun tiruk" or "naik mcm rocket"...only the super quick whipsaw will make you "tak menang tangan" if trade this manually..)


PS: i'm using a technique that uses almost the same principles of yours... but with mr. martin associated...