My average short is 4470, low leverage. Will add short if turn is confirmed. Will hedge if it breaks 4600 instead. Either way, a turn is due soon.

Feel free to go long if you think the short term trend is up

yeah i am long and 40 pips in profit already thinking to make 150 pips and and the strategy u r using i use to do b4 seriously what a co incidince but still u should giv up when the trend is tooo large i lost so much becoz of this trategy i kept on going against the trend and my average price rosed thinking that i am smart but eventually i failed ..... becozz i dint knew where to exit which positions ..... so now i trade gbp usd like this i put 100 pip stop loss and then like for example i am short on gbp usd and the stop loss is triggered so i acctually have placed a long position at my stop order of the short opened position so i easily win like this i think its a goood advise to u guys

Hey -- speaking of 'hedging' -- when you say you're going to hedge a position, what do you actually do? Do you buy an equal number of lots in the opposite direction so that your PnL is basically 'suspended' at that level until you close one of the two sides of the hedge?

This is a mystery to me, because it seems that you would just sell your losing position and then open one in the other direction... why open another offsetting position on the same pair?

Sorry for the questions...
Bryan

That's great. I usually use stop losses too, but not for every trade. Different trade uses different strategy I guess. Wish you good luck with your long.

yeah ryte y hedge just accept the loss of ur short positions luckily its not tooo big at 1.46 even . i tell u u will get messed up and u will have no idea when to exit whic position where .....

ok if u have a hedging nice strategy so u can tell us we will be glad to know ... leave my advice i am just telling u my experiance thats all

I sort of use that "average down" strategy (if you call it that) sometimes too. I'll open one lot, and if it goes against me more than 20 pips, I'll open another one, and so on until the price comes back to my average and then I'll usually close it at breakeven if I think I'm really fighting the trend.

But here's a safer way to do this if you want to try it. Open a 1 lot position, but put a stoploss on it right above/below the last swing. If the price blows through that swing and stops you out, you know you had the momentum wrong and so you wait until it looks like the momentum is slowing down and then enter another 1 lot order again with a stop just outside the last swing again. Keep doing this until the momentum finally changes and goes in your direction. Then you can add to your winning position on the previous swings on the way back (with stops!).

How's that idea? It keeps you from getting too emotional and dumping lots into a losing position over and over. You only have 1 lot at risk at any time until the position you have is winning. Let me know if that works for you. I know I hate the feeling of being way under water with a large position... and that emotion makes me trade really bad.

Bryan

Because in this particular case, I am trading a Delta turning point. And from Delta perspective, there's a possibility that the timing of the short term top comes late, and from EW perspective, there's a possibility that price will go higher today to around 4770, even though I am leaning towards the idea that a short term top is already in place yesterday.

Thus, if it breaks 4600, I will hedge it, guessing it will go to 4770 and turns. If my Delta is wrong, I am guessing I would be shorting 1 day too early.

Generally speaking I use stop losses and don't hedge if I don't know the Delta timing.

ok then u r a more experianced trader than me u can do that A LONG as u know what u r doing ... and 20 pips is so smalll u will 1 day burn ur account like every 20 pips u will place an order fighting the trend which is going against u at the time bieng ?

When I trade Delta turning point, I entered first with small position, lower than 1:1 leverage. Then as turns gets confirmed, I will add more. If it goes against me for this particular case, I will hedge and add more short at 4770. I don't average up every 20 pips increment randomly. We'll get burned if we use a large leverage.

ok i use 1: 400 leverage so then how much do u earn monthly below 50 %

The question is do you use 1:400 leverage everytime you trade. I understand the brokers give you maximum 1:400 leverage to use, are you using it everytime? I don't risk more than 3% of my capital each time. My objective every month is just to be profitable, and not trying to earn 50% or specific percentage of gain, and so far my objective is met and I am happy with.

well as long as u r happy its goood yes i dont have option to select leverage so i ahve to use 1 is to 400 leverage but i trade 1 k to 10 k lot sizes only

100 k lot size is known as 1 lot i guess

gbp is retracing lets c how my 100 pip stop loss strategy works it will only work if the gbp fell like 250 pips from the current price if it retraced b4 it then i will accept the loss which wont be much becoz this time i only invested 0.01 lot

if u use low leverage then u will get a margin call quickly becoz like 1 lot cost me only 250 dollars and there are 10000 dollars in my account for example
and u use leverage fore example 1 is to 20 s it will cost u 5000 dollar so u will have only 5000 usable margin which can cause u a margin call quicker than me