nice sharing joffie.
I almost trade sell EU too, but just found out the engulfing candle was too big.
Tj the GU trade I took last week was a buy first with a 2% risk on the trade, then 2 candles later there was the bearish candle closing against my buy trade, putting my trade in negative. So here I sold becasue 1. price was coming of the high of the day. 2. the reverse happened within 2 candles after the buy entry 3. I was negative on the buy trade.
So I placed a sell trade here with again a 2% risk on the trade. All that is left to do now is let the trades play out, one will get stopped out and normally the other trade will move into profit. I look to lock in a 1:1 proft when price has closed past the 1:1 and i either get stopped out with a break even or price continues into more profit.
Now there is also the chance both trades will stop out for a full loss and this can happen. But sticking to the rules these reverse hedge trades can also make good profit.
joffie
4 entries so far, tested this on my small account.
SL I would put around 30 pips.
1. EU BUY -11 pips
2. GU SELL -83 pips
3. GU BUY (Hedge), same position lot +60 pips
4. EU BUY +135 pips (NFP)
You see number 2 and 3? I hedged and ended up -20 pips. Just 10 pips different with my real risk around 30 pips. So thus I still don't understand your hedge strategy and still profit
Note the position lot size on this small account for test are all only 0.01
I would also like to get a little more info about your template and indicators to further understand this method a bit more if you don't mindHi tjenarvi,
If you pm me your email address I can send you my template and indicators for the method as am unable to post in them forum
Joffie
I would also like to get a little more info about your template and indicators to further understand this method a bit more if you don't mind
Yes tj I did hedge GU, took a loss on the sell and took a 1:3 profit on the hedged buy trade ending up with a net +4% profit for the day, no trade on Eu trading of high of the day, but it did give a reverse buy trade which is a whole new method in its self
I almost wanted to hedge it, but just afraid it due to remembering the last hedge result a loss
You must stick to the plan and follow the rules. Yes there will be times when both trades lose, but then you'll have a good winner wiping out these losses. I've back tested traded this method exactly as I have posted, since Jan this year every month trading both pairs was positive and over +20% every month with Sep being the highest so far of +85%
Both pairs ended up positive for the month also, but trading both combined will increase your ROI
yesterday's trades eurusd buy with hedged sell both stopped out a -4%, gpbusd sell stopped out with a hedged buy making a +1% ending up with a -1%
-5% for the day. I wanted to show you will have losing days as well trading this method.
Not sure I totally understand your questionQuestion about your GU on your screenshot:
- The Sell reach SL, Ok I understand it. But did you let it run the buy trade even after you found a pin bar reversal on 8 Oct 2015.
Your buy on 7 Oct 2015, did you let it stopped out, or put into BE?Not sure I totally understand your question
I closed it out after the pin bar formedYour buy on 7 Oct 2015, did you let it stopped out, or put into BE?
Remember there is pin bar sell signal on 8 Oct 0215.