I am looking for an EA that will place 2 pending orders x amount of pips apart on a currency pair.
When the first order is triggered a second pending order is added to the opposite order.
If the price reverses and triggers the opposite order then add 2 more positions to the first order that triggered. This is so that there is always one more order in the opposite direction. So we want price to move far enough in one direction to cancel out the opposite hedged orders and we gain profit from having a nextra trade in our giving direction.
There should be no stop loss, just close all at x amount of pips/% profit.
Anyone with me?
I'm with you! I've been developing such an EA for about a month now. You'd be surprised at how many times you can get caught up in a quad-hedge (or more) situation due the volatility; I'm mainly testing on EUR/USD. The only way around this is to use small lots and have a large balance just to stay afloat - but getting yourself to neutral can take days and sometimes weeks. I'm currently trying various tactics to at least reduce the multi-hedge occurrences, but no significant luck so far. I'm not giving up just yet, but I am losing faith in this strategy.
hello guys anyone can help me to draw for example 2 charts like gold and silver in the same chart to see their correlations?bear in mind i dont mean opening two charts horizantaly or vertically from window menu in MT4?
EuroTrader I thought you were a big supporter of hedging currency pairs...why the newfound negativity?
Yes Phillip, I am now using hedges successfully after many years of almost Death by A Thousand Cuts. I have found a way to catch a profitable trend out of a single hedge position. That's how my TrendWhipsaw EA works. Hedges are perfect for balancing the losses and wins between the whipsaws and a trend. But for newbies a hedge can be a killer many times.
The secret I found is not to hedge at same level or randomly selected levels but to hedge at the OPEN and CLOSE of a same bar. The law of averages dictates that in long run a bar has 50/50 chance of going your direction or not and another 50/50 chance of breaking out in your direction or not. You are a smart man, you can figure out the rest, mate.
I got an EA from a guy. I tested it for sometimes but i did not work. now i need help from a pro coder to code it again
This ea is a hedging EA. take profit =60pips, stop loss= 120 pips, hedging distance= 60pips.
Need help to code it again: take profit=60pips, stop loss 120 pips, hedging distance =120pips
I am a newbie so i dunt know much about ea, i ll appreciate if some one can help me. Thanks in advance.