naijababe:
The dollar is going down! Just got out of my GJ sell. Holding Dow Sells

Closed DJIA sell too, support at 18820 appears to be hard to penetrate. Make I chop the small chops wey market give me today comot. Awoof dey run belle

mhen i just long gold & silver. i hope it goes well

toxco:

It seem you didnt understand me.

sure i dont understand, cuz if u are done with ur demo trades, u should knw which pair & time to trade.

docus:
mhen i just long gold & silver. i hope it goes well

Gold making lower highs and lows, shine your eyes o bros

naijababe:


Gold making lower highs and lows, shine your eyes o bros

sure ma, 1s it breach my eye zone am out

natruetalk:
on EU, d currency still within BEAR territory below "1.079x zone" dis yellow zone need to be watch if held could send d currency down below

have sold EU base on below d yellow zone. watching 2day's high to close d trade if it goes back up

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Hi guys,

I have something in mind about hedging a position to cancel loss versus setting a stop loss for it to exit

Say for example I open a long position for EURUSD and it goes against me. Now, instead of setting a stop loss and having the trade hit that SL, I open a short position when it reaches the price point where I would have set a SL.

The net loss will always be equal to that and when I open other trades and cover that net loss I'll simply close the position and be done with it.

Psychologically speaking, What do you guys think?

Descending Triangle in a Downtrend!

lets make it real here pls no time for joke!!!!! No time for talk. i have 5000 dollers to trade

Stop loss hunting on Gold today..
It still has a chance of hitting 113x before we see a reversal.

drpips1:
Hi guys,

I have something in mind about hedging a position to cancel loss versus setting a stop loss for it to exit

Say for example I open a long position for EURUSD and it goes against me. Now, instead of setting a stop loss and having the trade hit that SL, I open a short position when it reaches the price point where I would have set a SL.

The net loss will always be equal to that and when I open other trades and cover that net loss I'll simply close the position and be done with it.

Psychologically speaking, What do you guys think?

This is dangerous. Depending on the time frame you are trading you can have the two trades sitting in the middle of nowhere.. The buy may be far below entry and sell may reverse well above entry without reaching your initial buy position.

Before you know it, you are dealing with huge drawdowns and the pressure alone can make you hit the wrong buttons.

Avoid this as much as you should avoid Martingale.

BIGDAY1:
lets make it real here pls no time for joke!!!!! No time for talk. i have 5000 dollers to trade

wow thats a lot of money...madam you will need lots of patients and discipline

.

Shevychen2:


This is dangerous. Depending on the time frame you are trading you can have the two trades sitting in the middle of nowhere.. The buy may be far below entry and sell may reverse well above entry without reaching your initial buy position.

Before you know it, you are dealing with huge drawdowns and the pressure alone can make you hit the wrong buttons.

Avoid this as much as you should avoid Martingale.

I don't use SL orders for exit from at least 3yrs - and never will.

why/, cos i believe Stop Loss is the way to drain your account , get drowned into revenge trading and start to buildup conspiracy theories that "brokers have huge organized alliance to get my dollars of my account...mimimimimimimi" - i got real with this....

I always do low-leveraged (account margin heavily calculated and considered) progressive/dynamic hedging if the trade goes against me.

I do not use USA-regulated shitty brokers that do not allow hedging. Such brokers have been regulated to do FIFO and no-hedging with the explanation (quoted from FCA): "to protect the interests of the small customers". Exactly the opposite is the end effect (very deliberate lobbying actions that benefit brokers and institutional players) - by forcing you to close your "first enter" trades (at profit or loss) and no hedging is totally screw your chance for even 5% of success. The biggest FX losers I know are the ones that always "read the chart" and "have skill edge". The profitable players focus 90% of their attention on the risk/money management - this is where the hedging is a wonderful tool.

Hedges are even more effective if the price moves widely more into the loss zone of your main trade - more progressive counter-orders would kick-in and you cover your wrong entry with minimal loss (when you decide - avoid setting hard SL at broker's account).

Just use your head and be rigorous on your maths and avoid "mantras" like "hedging is dangerous"

BIGDAY1:
lets make it real here pls no time for joke!!!!! No time for talk. i have 5000 dollers to trade

and if you are really real.......then we can go on 60/40 ROI share with that.......fund your acct with your broker to go, or if you need me to introduce you to one.......how bout that ehnn

£ crosses go hear am tomorrow.

first take profit hit

iheanyiebeneze:
If USDJPY comes to 121.10 now or in the next 2hours, BUY at that level. First Take profit is 121.35 and second take profit is 121.50. Stoploss is 100pips
Bring second stoploss to BE as soon as first take profit is hit.

hope you have brought you second stoploss to BE
ENJOY your dollars..

drpips1:


I don't use SL orders for exit from at least 3yrs - and never will.

why/, cos i believe Stop Loss is the way to drain your account , get drowned into revenge trading and start to buildup conspiracy theories that "brokers have huge organized alliance to get my dollars of my account...mimimimimimimi" - i got real with this....

I always do low-leveraged (account margin heavily calculated and considered) progressive/dynamic hedging if the trade goes against me.

I do not use USA-regulated shitty brokers that do not allow hedging. Such brokers have been regulated to do FIFO and no-hedging with the explanation (quoted from FCA): "to protect the interests of the small customers". Exactly the opposite is the end effect (very deliberate lobbying actions that benefit brokers and institutional players) - by forcing you to close your "first enter" trades (at profit or loss) and no hedging is totally screw your chance for even 5% of success. The biggest FX losers I know are the ones that always "read the chart" and "have skill edge". The profitable players focus 90% of their attention on the risk/money management - this is where the hedging is a wonderful tool.

Hedges are even more effective if the price moves widely more into the loss zone of your main trade - more progressive counter-orders would kick-in and you cover your wrong entry with minimal loss (when you decide - avoid setting hard SL at broker's account).

Just use your head and be rigorous on your maths and avoid "mantras" like "hedging is dangerous"

I was expecting you to tell us why hedging is not dangerous instead of the condescending stuff you put up there. Guess I should have just minded my business. Each to his own abeg.

first 50pips taking manually, waiting for others to hit.

iheanyiebeneze:
NOON trade for today is USDCHF, buy now at 1.0020 for a first 70pips take profit, bring second stoploss to BE as soon as the first take profit is hit.

I know you have brought your stoploss for others to BE,
enjoy your dollars

going by the number of economic releases tomorrow might just turn out to be too HOT ................to handle

My input;
Hedging a position is not good for a newbie because it will make you ignore the IMPORTANCE of stoploss. Entering the market without stoploss is like going home at the end of the market day from your physical shop without LOCKING your shop. Trading Forex market without stoploss can be liken to GAMBLING. Am sorry if i sound raw, but its better to tell the bitter truth, Forex is business and must be treated as one. The inventors of Forex trading are not stupid to include stoploss there, PLEASE MAKE USE OF STOPLOSS. If you are always have a stoploss hit, its better you work on your TRADING STRATEGY to have a fair stoploss that will be difficult to hit. Thats my latest assignment. Having said that, i will like to conclude by saying that HEDGING is good for professionals who know how to use it,
TRADE WISELY.

drpips1:
Hi guys,

I have something in mind about hedging a position to cancel loss versus setting a stop loss for it to exit

Say for example I open a long position for EURUSD and it goes against me. Now, instead of setting a stop loss and having the trade hit that SL, I open a short position when it reaches the price point where I would have set a SL.

The net loss will always be equal to that and when I open other trades and cover that net loss I'll simply close the position and be done with it.

Psychologically speaking, What do you guys think?

Shevychen2:


I was expecting you to tell us why hedging is not dangerous instead of the condescending stuff you put up there. Guess I should have just minded my business. Each to his own abeg.

Nooooo its not like that broh, it really dangerous for real as the orders can get real complicated if you are a novice nd not mindful about it, but i have always prefer doing and am i still prefer it to S.L since i calculate everybit of what i want ot of the market, it is not dangerous if one is rigourous with his/her mathematics-one sure way to beat the economists

iheanyiebeneze:
My input;
Hedging a position is not good for a newbie because it will make you ignore the IMPORTANCE of stoploss. Entering the market without stoploss is like going home at the end of the market day from your physical shop without LOCKING your shop. Trading Forex market without stoploss can be liken to GAMBLING. Am sorry if i sound raw, but its better to tell the bitter truth, Forex is business and must be treated as one. The inventors of Forex trading are not stupid to include stoploss there, PLEASE MAKE USE OF STOPLOSS. If you are always have a stoploss hit, its better you work on your TRADING STRATEGY to have a fair stoploss that will be difficult to hit. Thats my latest assignment. Having said that, i will like to conclude by saying that HEDGING is good for professionals who know how to use it,
TRADE WISELY.

if you really see me on my trading desk to watch my style of trading, you ll fully understand what i meant, is not that s.l and t.p will not be set ,it is done dynamically nd all trades exit simultaneously,,a newbie cannot do this that am sure of, only professional/institutional traders have the knowledge of ow this stuff works

This stop loss things hummm...well Using stop loss is like trading with a EA to help you exit at the price setᆞ Same as take profit. It helps as it can help you manage ur emotion and if you are busy, it can help too but a professional trader that is discipline and understands support and resistance well knows when and at what point or region to exit manually.

In allᆞI blame none for using or not using stop loss n for me i hardly place stop loss except when i place trade without reasons and am not afraid to close my losses. But i do use Stop loss at BE or positive sl.

infofirst:
This stop loss things hummm...well Using stop loss is like trading with a EA to help you exit at the price setᆞ Same as take profit. It helps as it can help you manage ur emotion and if you are busy, it can help too but a professional trader that is discipline and understands support and resistance well knows when and at what point or region to exit manually.

In allᆞI blame none for using or not using stop loss n for me i hardly place stop loss except when i place trade without reasons and am not afraid to close my losses. But i do use Stop loss at BE or positive sl.

and your not worried about spikes like those of chef pairs Btw, Goodmorning sire

docus:
mhen i just long gold & silver. i hope it goes well

trade closed

Owliver:
and your not worried about spikes like those of chef pairs Btw, Goodmorning sire

Stoo loss can not safe you in such situation....those r the mad days in trading.....If spike can take accounts into negatives....so what is stop loss in such situation....there r even times that take profit or stop loss will fail to trigger when the volatility is damn high....my last eu trade experienced this.ᆞi got extra 27 pips as tp did not trigger n it happened with xm broker oh