I am looking for a ea that would put a hedge trade on when your first trade moves against you x number of pips
The big question is: When do you "lift" the hedge to take your system into profitability?
By placing a hedge, you do stop the bleeding, but you still have the wound which is your loss. You also add to the bleeding by incurring another spread cost.
If you can figure out a good method of lifting your hedge into a profitable situation, I would like to hear it!
I have visually backtested this expert
https://www.mql5.com/en/forum/178968
it was one of the best martingale hedge system I have ever seen, I have got the chance to test it yet .. there is no room in my VPS server and I quite busy these days but you can check it out
my thought
If i am trading , with my money managment, risk what ever.
and 50pips stops is in my plan , why take the 50 pip loss,
Why not hedge it at 50 pips + 2 spread eurusd 52 that may collect
interest or pay interest. Than I get to your question, lifting the hedge
and I have no good answer.
But I have recovered some bad trades by hedge, maybe just by luck or what ever.
The big question is: When do you "lift" the hedge to take your system into profitability?
By placing a hedge, you do stop the bleeding, but you still have the wound which is your loss. You also add to the bleeding by incurring another spread cost.
If you can figure out a good method of lifting your hedge into a profitable situation, I would like to hear it!If i am trading , with my money managment, risk what ever.
and 50pips stops is in my plan , why take the 50 pip loss,
Why not hedge it at 50 pips + 2 spread eurusd 52 that may collect
interest or pay interest. Than I get to your question, lifting the hedge
and I have no good answer.
But I have recovered some bad trades by hedge, maybe just by luck or what ever.Figure out a good way to lift the hedge, and guide the system into profitability, and I will take a crack at coding this for you.
Hedge
Never release a hedge. Let the lock to be permanent.
You may add possition to sell or to buy to make total positions in profit, then close them all at once.
Thank you
Thank you for this tip,
I will give this a try
Never release a hedge. Let the lock to be permanent. You may add possition to sell or to buy to make total positions in profit, then close them all at once.
Thank you for this tip, I will give this a try
You're welcome.
There are a lot of things actually to master this Hedge. You need to have enough pips to let the price move in the correct direction. For EUR/USD 100 pips, for GBPJPY 166 pips. You need to place trade in line with fundamental. There is a support/ressistance to decide to buy or sell.
You can place buy stop / sell stop as a hedge, not necessary an EA.
By having this hedge, you are buying time, to fix it later somewhere sometime when the trend is clear.
Once you master this, you can have consistant profit, without any fear of losses.
Thank you again
Yes I have been doing the buy ,sell stop. the only reason
i wanted a Ea was to have exact pip hedge like 50 pips or something
Do you know, book, forum that uses hedge as stop loss ?
I want to learn this better
You're welcome.
There are a lot of things actually to master this Hedge. You need to have enough pips to let the price move in the correct direction. For EUR/USD 100 pips, for GBPJPY 166 pips. You need to place trade in line with fundamental. There is a support/ressistance to decide to buy or sell.
You can place buy stop / sell stop as a hedge, not necessary an EA.
By having this hedge, you are buying time, to fix it later somewhere sometime when the trend is clear.
Once you master this, you can have consistant profit, without any fear of losses.Todd, Have you tried the auntie hedge EA for Jacko's trading style? The name of the thread on FF is "EA for Jacko's trailing stops". Scroll down to post #6 to find the EA. Goldensight
Yes I have been doing the buy ,sell stop. the only reason
i wanted a Ea was to have exact pip hedge like 50 pips or something
Do you know, book, forum that uses hedge as stop loss ?
I want to learn this betterUnfortunately I do not know books or forums which discuss Hedge. I learn this by experience. Good knowledge is not written in internet. It must be invented and experienced by yourself. I learnt using the most dangers and volatile currency GBP/JPY. This currency have enough volatility to cover losses when you place wrong trade at the wrong price.
I also have EA for Hedge, and it will exactly hedge on demanded pips, or percentage drawdown. But my EA is too complex to be used, and it is not a holy grail that can work by itself. I do use EA to hedge when I was sleep.
There is a good e-book you can read, but it is not about Hedge. It is about trading fundamental, and physiology of trading. It is very good and recommended. At the end of the book, it tells you about the stop loss and hedge, but it doesn't tell you how. The author is Dirk du Toit.
Title: Bird watching in Lion Country.
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I am looking for a ea that would put a hedge trade on when your first
trade moves against you x number of pips