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#11 16-08-2011 13:22:51

johnedward
Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2534
Website

Re: AWESOME: New forex hedging strategy!

Hi Kader, the stop loss is 29 and not 30. This is because more often than not, if the 29 SL is hit, it would have hit the 30 pip anyway, but this way you save an extra pip each time!

Still don't have an EA for this one yet...I'm doing this manually for now. I will soon post my actual results so you can see my progress (I'm in the process of switching brokers but will soon be trading again, hopefully this week!)


"Anything worth having is worth going for - all the way." - J.R. Ewing

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#12 16-08-2011 15:57:37

only1looser
Member
Registered: 16-08-2011
Posts: 5

Re: AWESOME: New forex hedging strategy!

well....

I have had some great Hedging today! but one of them was without profit! confused? me too. i think its my broker's spread took my profit away.

Let me tell you the history of that unlucky trade.

2011.08.16 12:08    buy    0.18    eurusd    1.4403    1.4360    1.4422    2011.08.16 13:58    1.4360    0.00    0.00    0.00    -7.74

2011.08.16 13:00    sell    0.36    eurusd    1.4383    1.4425    1.4363    2011.08.16 13:58    1.4363    0.00    0.00    0.00    7.20

2011.08.16 10:54    buy    0.03    eurusd    1.4403    1.4360    1.4422    2011.08.16 13:58    1.4360    0.00    0.00    0.00    -1.29

2011.08.16 11:10    sell    0.09    eurusd    1.4383    1.4425    1.4363    2011.08.16 13:58    1.4363    0.00    0.00    0.00    1.80

-7.74+7.20-1.29+1.80= -0.03

i can't understand how to upload image here but i tried to mention my trade.

so john, what do you say about this trade ???  and please share your trades.

thanks
kader


"He is rich or poor according to what he is, not according to what he has."

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#13 18-08-2011 02:27:15

jbull86
Member
From: Texas USA
Registered: 16-08-2011
Posts: 6

Re: AWESOME: New forex hedging strategy!

Hey guys been running the sure fire hedge manually and I love it! But what I would love more is an EA that ran the strategy! Does anyone one know anybody that could program this strategy? All I have been doing for the best point of entry is using the previous days high low and close prices pluging those into a pivot calculator which gives me the support and resistance lines and this is where I place my orders at. Its been working for me well and the highest I have gone is 0.06. Todays profit was $14.08 and that was doing it from my iphone at work trading the EUR/GBP and EUR/USD. I'm open to any suggestion on best point of entry and anyone that could or can program this EA!

Thanks

Justin

Last edited by jbull86 (18-08-2011 02:47:43)

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#14 18-08-2011 14:19:26

Krillscalper
Member
Registered: 18-08-2011
Posts: 4

Re: AWESOME: New forex hedging strategy!

i found this to be a very dangerous one for non professionals and needs small lots or large accounts to be profitable in the long run.
i just did math analysis about this on excel. i dunno how to upload it here.
always under trade with this

goodluck

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#15 18-08-2011 14:32:34

johnedward
Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2534
Website

Re: AWESOME: New forex hedging strategy!

only1looser wrote:

well....

I have had some great Hedging today! but one of them was without profit! confused? me too. i think its my broker's spread took my profit away.

Let me tell you the history of that unlucky trade.

2011.08.16 12:08    buy    0.18    eurusd    1.4403    1.4360    1.4422    2011.08.16 13:58    1.4360    0.00    0.00    0.00    -7.74

2011.08.16 13:00    sell    0.36    eurusd    1.4383    1.4425    1.4363    2011.08.16 13:58    1.4363    0.00    0.00    0.00    7.20

2011.08.16 10:54    buy    0.03    eurusd    1.4403    1.4360    1.4422    2011.08.16 13:58    1.4360    0.00    0.00    0.00    -1.29

2011.08.16 11:10    sell    0.09    eurusd    1.4383    1.4425    1.4363    2011.08.16 13:58    1.4363    0.00    0.00    0.00    1.80

-7.74+7.20-1.29+1.80= -0.03

i can't understand how to upload image here but i tried to mention my trade.

so john, what do you say about this trade ???  and please share your trades.

thanks
kader

Hey, I see the problem here, you are using the original "sure-fire" strategy (and not the other version of this strategy which I mentioned in my previous response to you) which calls for 30pip take profit points and 60pip stop loss points.

For your buy orders at 1.4403, your stop losses should have been 1.4343 (1.4403-60=1.4343) and not 1.4360, and your take profit points should have been 1.4433 (1.4403+30=1.4433) and not 1.4422. The same logic applies to both of your sell orders.

Nevertheless, I would advise you to try the alternate version I describe here: http://www.forex-central.net/forum/view … d=103#p575 This strategy is similar but carries a bit less risk as your order sizes would be (in your case starting with a .03 order): .03, .06, .12, .24

I probably won't be trading again until the end of the month. I'm having major problems getting my money back from LiteForex and am waiting to see how this situation pans out before I decide upon another broker.


"Anything worth having is worth going for - all the way." - J.R. Ewing

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#16 18-08-2011 14:35:15

johnedward
Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2534
Website

Re: AWESOME: New forex hedging strategy!

jbull86 wrote:

Hey guys been running the sure fire hedge manually and I love it! But what I would love more is an EA that ran the strategy! Does anyone one know anybody that could program this strategy? All I have been doing for the best point of entry is using the previous days high low and close prices pluging those into a pivot calculator which gives me the support and resistance lines and this is where I place my orders at. Its been working for me well and the highest I have gone is 0.06. Todays profit was $14.08 and that was doing it from my iphone at work trading the EUR/GBP and EUR/USD. I'm open to any suggestion on best point of entry and anyone that could or can program this EA!

Thanks

Justin

Hey Justin,

Unfortunately I still don't know anyone who can program this EA...As far as best point of entry, I don't have a mechanical system or anything, I just avoid trading when the market doesn't show any concrete direction. I'll look at the 5M, 1H and 4H charts to see if I can spot a trend, and use the 5M to time my entry.


"Anything worth having is worth going for - all the way." - J.R. Ewing

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#17 18-08-2011 14:48:56

johnedward
Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2534
Website

Re: AWESOME: New forex hedging strategy!

Krillscalper wrote:

i found this to be a very dangerous one for non professionals and needs small lots or large accounts to be profitable in the long run.
i just did math analysis about this on excel. i dunno how to upload it here.
always under trade with this

goodluck

Good that you brought this issue up. I recommend that if you have a 1000$ (or €) account, your first position be .01. If you have a 2000$ account, I would recommend trading two different pairs (ex: if you go long on EURUSD, also go long on USDJPY, that way you're sure to see half of your open positions hit a take profit, and this will therefore divide your overall risk in half). I would go so far as to trade 3 different pairs if you're trading a 3000$ account, and only increase the weight of your first positions as you have more capital to trade with.
Also, as I mentioned in a recent post, there is another similar, less risky strategy that is worth using (I use it myself instead of the sure-fire): http://www.forex-central.net/forum/view … d=103#p575 I like this strategy because your overall position sizes (and therefore risk) end up being lower:
Sure-fire strategy sizes: .01, .03, .06, .12
Second strategy sizes: .01, .02, .04, .08

No way to upload pix here yet...I'll ask my technical partner about this!


"Anything worth having is worth going for - all the way." - J.R. Ewing

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#18 18-08-2011 15:04:58

johnedward
Admin & Trader
From: Paris - France
Registered: 21-12-2009
Posts: 2534
Website

Re: AWESOME: New forex hedging strategy!

My friend Ludo at broker-forex.fr helped me with this picture uploading issue. Best we can do for now is you upload a picture to ImageShack using the "upload a picture" link at the bottom of your post...once you have a link to your picture, you can use the image command in the regular forum post toolbar. :)


"Anything worth having is worth going for - all the way." - J.R. Ewing

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#19 18-08-2011 18:07:17

Krillscalper
Member
Registered: 18-08-2011
Posts: 4

Re: AWESOME: New forex hedging strategy!

this is my risk analysis basically
what i have done is finding out how many loss trades 3 different account sizes can tolerate in a row before buring it to the ground

http://img59.imageshack.us/img59/7099/unledpkc.png

my grid is
10/10/10 is Asian hours
20/20/20 in us
30/30/30 in us-uk

i have recommended account sizes for starting lot size. this is the conservative setting
the heat chart show where you have to increase ur concern for the account
also have a look at the %DD for given lot at specific account sizes.
in the red areas you need to keep close to the monitor!

i have been using this strategy since 2007 for getting out of loosing day trades which accounts for about 30%.

i use this as the recovery system as a last action since it is hedge-martingale big_smile
from my experience it is a good recovery system for your losses. it is risky to use it as your primary strategy .

here is my excel sheet
http://depositfiles.com/files/ao6z109dv
of cause you can demo trade

forum is dull with no display pics :(

Cheers
cool

Last edited by Krillscalper (18-08-2011 19:40:37)

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#20 18-08-2011 18:24:50

jbull86
Member
From: Texas USA
Registered: 16-08-2011
Posts: 6

Re: AWESOME: New forex hedging strategy!

Hey John,

I really like your second strategy, it lowers your risk and on top of that you don't get caught up in the swap fee like you would if you held the trade over a day with sure fire strategy. Here is my ImageShack URL to view my daily profits:

http://img215.imageshack.us/img215/7630/august1720113.jpg

Also here is the image to my profits below on August 27, 2011! I began with mini lots starting at 0.01 ,0.03, 0.06, 0.12, etc. and did a 30/60/30 hedge.



Hey Krillscalper

Your links are not working even when you type them into a separte browser. What you need to do for us to view them is when you go into edit reply or post reply there is a tool bar at the top for links and images to be displayed. Just scroll over the tool bar icons to see what each one is. Look forward to seeing what you post!

Last edited by jbull86 (18-08-2011 19:09:31)

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