Blow Acct or Survive by Hedging EA/Script (trade management)

[GoodBoyFX]

guys, most of us retailer traders worry about getting the right direction of trades (perform analysis etc etc) but the real "heart of our weakness" which causes us to blow accts is; during time of chaos when our analysis is wrong. So lets say we have 10 buy orders in market and bad news comes outta nowhere market moves 20 pips down.. so now we are down -10 pips.

So what do we do ? pray pray market reverses or keep adding to losers to average down (n blow up account by end of day or two )

or

We can be smart about this chaos/tornado by hedging our positions till the storm is over.

so i suggest looking for an EA/Script that opens exact opposite trades soon as we feel market has broken our levels/analysis. so in above scenarios say we are down -10 pips... we hedge in 10 buy orders with 10 sell orders(exact size).. so our acct is safe with just -10 pips down.. so imagine the chaos spills n gets worse.. price moves down 100 pips.. but we are locked into -10 pips (takes stress out). Soon as we feel chaos is over, we can release the hedge.. n with 10 pip pullback we are in safe/breakven, survive the account.

I am sure as retail trader' we've been through chaos times.


If anyone know of hedging EA/script that opens exact opposite of open orders, please share.. thanks

PS: there is idea of reversing position upon knowing chaos. There is Reverse.Mq4 script out there (i am against reversing because news usually spikes n returns to normal direction) so we dont want to be chasing. (never chase market fundamental rule of market) so hedging think of it as a umbrella in midst of unforeseen thunderstorm.

[Stuart Browne]

GoodBoyFX:
guys, most of us retailer traders worry about getting the right direction of trades (perform analysis etc etc) but the real "heart of our weakness" which causes us to blow accts is; during time of chaos when our analysis is wrong. So lets say we have 10 buy orders in market and bad news comes outta nowhere market moves 20 pips down.. so now we are down -10 pips.

• Average down by adding to losers - One of the quickest ways to blow an account (besides martingale)
  
  
• Pray that market reverses - The market will only ever reverse into the correct direction once you have given up and closed your orders ;-)
  
  
• "Hedging" - All you have done is lock in a loss and you're back to praying
  
  
• Accepting you were wrong and take the loss - What the 5% do

[GoodBoyFX]

guys i found the scripts, hedging(locking) positions is  (hedge script) 

other option is reverse positions (by closing current open positions) (close n reverse)

these tools should be helpful to manage chaos/expected volatility ahead/during...so enjoy

scripts to be added in scripts folder (not experts) 

also note: drag n drop script only on pair chart which needs to either hedge/reverse.. ie: if you have USD JPY trades open that need either hedge/reverse then drag drop ONLY in USDJPY chart (won't work if you drag script in EURUSD)

Regards,

GBFX