Yes, my broker allows it but I just wondered if it's a good idea? If the hedge trade is the same size as your original trade size then a spike in either direction won't make a difference as you are hedged, your equity stays the same whatever happens ...

Silent Service Method

Nice! Better than 4% from a bank. What do you think of the idea of using a hedge instead of a stop loss on this kind of trade? If you're certain of the trend but the pair retraces further than you would expect then instead of letting a stop loss ...

Silent Service Method

Yes it is. If you're using 100 pip stops and trading AT s/r then I suppose you'd have room for your trade to work out. My point was just that it's not a good idea to trade directly into s/r which is what the AH strategy would sometimes suggest. ...

Jacko's Forex House of Pleasure and Pain

That's correct but I would be careful with support and resistance levels. If you've put your stop loss behind a strong s/r level and you get stopped out do you really want to be reentering the trade just about to hit s/r?

Jacko's Forex House of Pleasure and Pain

It's far too volatile at the moment for me. In general I think it will go up but how it will do it is anyone's guess.

Silent Service Method

Eurusd is doing nothing at the moment but I still think it's too far from the daily trendline to short right now. That long term weekly trendline is acting too. I can see it bouncing up quite hard before we see any more strong move down but who ...

Silent Service Method

Hmm, ok, so it's trending down nicely on the 4 hour but it could retrace anytime on the daily. My stop losses are just behind the trendline and major resistance on the way down so that will take me out if it has to but with some of these trades ...

Silent Service Method

I am waiting for it to bounce or not at 1.80 and then I will add on at 1.82 without waiting for PA, I've got so much locked in that if I just enter now with a sensible stop loss and put all of my stop losses at that level behind 1.82 then I will be ...

Silent Service Method

The red dotted line is the stop loss for all trades. Most with profit, the last one a small loss.

Jacko's Forex House of Pleasure and Pain

Doing ok at the moment all the time that trendline holds... Chris, is there any merit in the idea of taking profit on some of these stacked trades like my eurnzd when they reach a certain level? Maybe put a take profit at 500 pips up on each trade ...

Silent Service Method

I'm short eurnzd and euraud and nzd has been weakest over the last few days, possibly a reversal is due? Just a feeling on my part. I think this chart shows really nicely the value of this method. Round numbers are good to use but marking the most ...

Silent Service Method

Lol, nearly got stopped out but I was watching the hourly and moved the stop losses back above 1.8450 which fortunately turned out to be almost to the pip resistance. Just retesting the trendline again as I type, hopefully before another big push ...

Silent Service Method

Chris, funny what you were saying about retraces in the UK afternoon (New York open onwards). This is eurnzd on an hourly chart, that's a big move up and now dwindling back down. I sold some more as it looks right on the 4 hour chart too and I've ...

Silent Service Method

Eurnzd looking good and this usdchf monthly trendline looks interesting.

Silent Service Method

It's obvious noone is quite understanding what I am saying. Here's a chart of eurnzd. I have 4 open positions and one pending. By the time the buy limit is reached I'll have 5 open sell positions and the buy limit is for the net amount of my short ...

Hedging retraces

Yes, I'm with you on that.

Jacko's Forex House of Pleasure and Pain

No, just the same size. I always bring the stop loss in on the existing trades so that any loss incurred on the added trade is made up by the profit on the existing trades. There are lots of different ways to add on but I feel most comfortable with ...

Jacko's Forex House of Pleasure and Pain

Simulate hedging? What on earth can you mean? My broker allows hedging no problem. I'm not sure you've fully understood what I'm proposing. Do yourself a favour and reread the question.

Hedging retraces

Yes, the trend feels good. I've got profit locked in on the higher ones and at breakeven on the others, there's only one 'at risk' and the loss on that will be covered by the others with some to spare so I'm pleased with the result so far. That's ...

Jacko's Forex House of Pleasure and Pain