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certainly not a subject to argue, as it was just a throw away for me, but the one time it was down was 120 pips (which is normal for GU and the reason I dont use a stop loss), which recovered the following day --- all I ever said was to demo it, so instead of discussing (which I hate with a passion) just put it on a chart and see for yourself, but PLEASE spare me the negatives of something youve not even tested !
If it goes against you, take a counter trade to offset the margin and make profit on one side, and when it comes back up, which it will do, youll already have a tp set !
the trade is based on a statisticly repeatable situation, which i have discovered exists at least one more definite time in the day, with a possibility of a few more minor points, and im presently investigating them to see if its workable --- by the time youve satisfied yourself that the one works, I should have a yay or neigh on the second !
aint no skin off my nose
mpHey bro, I wasn't busting on your strategy. I was giving FXbabe a hard time because the question she asked was pretty simple.
Your strategy is sound, and no one can argue if you make money on it. I am glad you explained a bit of your psuedo hedge strategy.
Do you mean take a countertrade intra-day? From what I understood before you close out any danglers (what few you get) when enter new orders at 7pm. I am trying to understand what you do.
Say, for example you enter your buy and sell at 7:00 and then at 7:01 price jumps up and doesnt come back down. Your buy TP gets hit at 10 pips then your open sell is down 200 pips at 7:00 the next day. What do you do? Do you then open a new buy/sell for 10 pip targets and let that open sell ride or are you saying you would open a new buy for 10 pips target and open a sell with a target of 200 pips where you left the other one?
Hey bro, I wasn't busting on your strategy. I was giving FXbabe a hard time because the question she asked was pretty simple.
Your strategy is sound, and no one can argue if you make money on it. I am glad you explained your psuedo hedge strategy.
Do you mean take a countertrade intra-day? From what I understood before you close out any danglers (what few you get) when enter new orders at 7pm======================================================
in no way was i being defensive so nothing needs saying. its a throw away trade --- if interested, test it and if not interested, well its only 1900 lbs sterling a week ! (LOL)
yes, intraday counter trade, just to keep the margin up if needed and perhaps for a little fun and i have yet to close a "floater" that didnt hit its tp
i might wait a day or so, but Ive never needed to close one at a loss !
7:30 to 8 pm est seems to be a good time for the trade !
mp
https://www.mql5.com/en/forum/trading_systems
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no, i dont use EA's but thnx for the link --- while i dont agree with their times, and their sl on GU is WAY too small, its nice to see what else might work, although i think i stick with GU only because of its tremendous intraday range !
should be an interesting read though.
m[
I have not read the entire link, but I think, with the reading that I have done so far, I'd rather trade BigBen strategy than HedgeHog if I was forced to trade only GBP/USD?
is this a valid trade?
Hi Kamper,
Thanks for sharing this method.
Ok
Have thrown all your indicators up on the charts..
Looking at GBP/USD - Daily Chart
Blue Trend Mega.. + Blue Trend Histo + Red dot to go short from about the1.9800 from thursday.
How would you play this trade?
Regards,
fuzion
Sorry got my colours mixed up..
Red Mega Trend + Red Histo + Blue dot to go short..
Regards,
fuzion
ok, heres how Ive laid out a chart, having found differing overlays with same name give different results that may be found useful.
on the "ziggy" side, im using swing_zz_with_alert AND "zigzagfirst" along with "zigzag pointer" and Z-Z1" which produce longer term AND shorter term zigzags on the same timeframe
on the s+r side, using "bps support and resistance" AND "support and resistance" which also produce differing lengths on the same timeframe
for dynamic s+r im using "super signals"
6:45pm est
GU has shown its "end" of zigzag but new arrows have formed above, and presently playing long, past original exit of 1.9581 showing what i meant about dynamic resistance arrows
at this point, i switch to the hourly chart from the 15 min, to look for the new resistance areas ! i exited my second scalp, from 81 to 85 at 84, to allow for any errors at the blue dot and the 23.6 fib
will now wait to see where it wants to go, based on the 5 minute that has passed support and heading down 60 - 62 looks good for support !
7:12 est -- REMAINING ON 5 minute chart, down arrows lining up for decent move -- lowest showing 21 now, much more expected !
7:18 pm, est --- H1 charts shows what has happened --- GU went up on the ziggy alert, rising to the 23% fib at 84 (full number is 1.9584) , where it reversed to its baseline, forming a dbl bottom, and now should start up again which is NORMAL activity lately for many currencies and especially GU !
Now i return to the lower timeframe charts to see if we continue down, or now move up and i HAVE NOT yet taken a position Long on the H! chart, as my last long was taken out when currency hit 23% fib
7:40 PM EST --- on the 5 min chart -- was long to the 23 fib where I sold, and once it broke thru, I went long again with a present tp at the 50 fib or 1.9549 --
check it out
mp
Mp -- Method And The Hedge !
as of 9:49pm, the hedge placed at 8pm est has closed both sides
continuing with GU, but ive uploaded my limit of jpegs --- sorry
mp
200 pips at 10 pips per win and 2 wins a day. I am just guessing here, but I think it would take about 20 wins which could happen in 10 trading days to offset 200 pip loss. I am not so good with math though
i was being sarcastic, lol. just trying to point out that the risk is too much for the reward. i hope you understand.