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For me its not so much a hedging strategy in itself, but just a way to avoid whipsaws when the market consolidates and to make sure that when the break happens, one of my positions will be ready for it. My entry and exit signals are different, so a short entry doesnt always signal a long close. I have wide stops and most times it works, but sometimes both stops do get hit. Both valid entries at the time that turned into nothing, so all I had to do was wait and account wasnt churned. If that short had of closed my long I would have been whipped around 5 or 6 times.
For me its not so much a hedging strategy in itself, but just a way to avoid whipsaws when the market consolidates and to make sure that when the break happens, one of my positions will be ready for it. My entry and exit signals are different, so a short entry doesnt always signal a long close. I have wide stops and most times it works, but sometimes both stops do get hit. Both valid entries at the time that turned into nothing, so all I had to do was wait and account wasnt churned. If that short had of closed my long I would have been whipped around 5 or 6 times.
Ahhhh, take the bait..? No I won't hehe. I can resist.
If someone thinks like this, there's not much chance I can persuade them to reality!