Adding on Hedge System

[John Walters]

Hi all,

Its been awhile for me so go easy on me.

If anyone knows of a system that im about to explain, please point me in that direction.

Idea would be to use an existing code to add another hedge at a set given profit targets.

Example:

Hedge EURUSD & USDCHF (does not need to be this pair)

When TotalProfit Hedge 1 = $X amount

add another Hedge EURUSD & USDCHF <--New additions would be based on set lot sizes separate from the starting pairs.

then

When TotalProfit Hedge 2 = $X amount

add another Hedge EURUSD & USDCHF

after total amount of hedges has been reached and Final TotalProfit = $X amount close all trades and begin again.

(Maybe 3 - 5 Hedge pairs total)

So for example if the TotalProfit Stage 1 = $100 it will add another hedged pair of the same pairs.

Then

When TotalProfit = $200 add another Hedge.

etc...

etc...

Close all on TotalProfit = $1000 close all trades and begin again.

In short, for a new hedge to be placed the new TotalProfit has to be reached which increases for each new Hedge.

Just a rough idea, but if there is a system out there like this could someone point me to it. If not, could someone possible add the code into the provided code or another code.

Any help would be appreciated.

Sorry for not being able to explain this better.

Thanks

Spider

[robp]

So basically you want it to add a complete hedge basket to a positive hedge basket? What do you do if the first hedge basket entered is negative for any length of time?

[John Walters]

Mainly im thinking long term hold on the hedge. So if the first basket entered stays negative forever the second hedge basket will never be placed.

But in the off chance that the first set/basket gets to the X amount the next basket will be purchased/activated and so forth and so on.

I think that answered your question.

Spider

[robp]

Why not just take profit on the first basket over and over? Do you have results that indicate its better to keep entering on the winning side? I know there's a method on here somewhere, or maybe it's at FF, that adds baskets when the original basket is down.

Spider4896:
Mainly im thinking long term hold on the hedge. So if the first basket entered stays negative forever the second hedge basket will never be placed.

But in the off chance that the first set/basket gets to the X amount the next basket will be purchased/activated and so forth and so on.

I think that answered your question.

Spider

[lcfxtrader]

I know there's a method on here somewhere, or maybe it's at FF, that adds baskets when the original basket is down.

C-trader uses a basket and adds when the equity is down. I found an EA that will trade 2 pairs and close them out based on account %. If you want it, I will post this evening when I get home from work.

[John Walters]

lcfxtrader:
C-trader uses a basket and adds when the equity is down. I found an EA that will trade 2 pairs and close them out based on account %. If you want it, I will post this evening when I get home from work.

Thanks for telling me about c-trader.

I took the code which is pretty basic and modded it to what i needed. I will give you an update if my idea works.

Basically in a nutshell,

I hedge a position forever at very small lots. When and if certain profit is ever shown another set of similar trades will open up. When the next level of profit is shown another set of trades...repeat...then when a certain profit his shown it will close all trades and then start the whole process over again.

start

open Hedge orders

if TotalOrdersProfit = $10

Open HedgeSet 1

if TotalOrdersProfit = $25

Open HedgeSet 2

if TotalOrdersProfit = $50

Open HedgeSet 3

if TotalOrdersProfit = $75

Close all Trades

repeat start

Something like this...

I will post some updates as i go if this works out.

Thanks all!