Wow… I feel that too much position open… For mi I won’t able to focus if too much position open. My max is 2 position maybe I’m Scalping can’t open too much positions. U can use your balance 300 euro to cover back but hv to be real slow. Use Scalping way.
Example : if u hv a position open at long and which is in losing trade eurusd, losing of 50pips. Use bb as a resistance n Sar. I hv post a few photo on how to detact reverse u can take a look for references. It better to see the photo so can understand more. But I will tell u how to deal with it. Wait for the short candle to pass bb n Sar dot is side by side. Remember the candle must pass the Sar last dot n pass bb. This way it more confirm will pull back or reversed. Depend on how many unit u place. Example u place 100 unit for micro accounts. U use 100 unit to tackle back. Or 50unit also can. Place your trade on the short candle immediately after it pass the bb. When price pull back n u wining of maybe 2 to 3 pips close the 50 u place and plus 10 unit out of 100 unit which is loss. Slowly recover back the unit. Hope u understand what I’m trying to say.
The other way is double up your unit when it start to reverse u place 100unit on your losing trade u needs to place 200 or 300 unit on the new trade. Cos if u in losing of 50pips n u place double the pips will reduce to about 25pips lost. Than wait for the 25pips to become 0 or even some wining of maybe few pips close all 200unit together.
It be dangerous but if u hv confident it will pull back or reversed. It gd to use. This also use when u really hv no choice than use this option. Last resort… Oh ah and also when u use this method best is use when the market r open n fantimemta news is on. Cos the tread is strange to pull or reversed. That us what I use when sometime I hv losing tread. Will post some of my photo here tonight to let u hv a better reference. If u hv screen shoot to show it much easier to discuss how to tracker.
This is what I do. Thus photo was yesterday when USA news release. It pass Sar but not yet pass bb so wait for 2nd candle. When it pass I short it the brown line was my entry. Hope u understand what I’m trying to say.
I opened yesterday two more positions so now i have 10. Actually I should had opened only 1 but i had to open secondary one because i didn’t invest enough into it. The reason for opening this is to, hopefully, protect myself from account explosion (current loss reaches balance on account, obviously in opposite -/+) so now I am doing tripple hedging on GBPJPY. It was going dangerously Down but should had gone Up because I am in Long position (primary one). I wish I had opened like a month ago Short position instead of just yesterday. I had to because every minute there was a bigger loss so now if it goes further Down (UNwanted direction), I have at least something (two said positions opened yesterday) making me profit while UNwanted direction resumes (if it does). Although i repeat that this should had been done like a month ago because the distance between both entry points (actually all three since yesterday were opened 2 just because i didn’t make enough big investment on one) is by far far far too big.
Alanlim3 thank you for your effort and time to write this for me but I am not sure what did you mean with:
“Use bb as a resistance n Sar”
Upper Bollinger Band (bb) can also be defined as resistance but what would Parabolic SAR have to do with this? I am looking at your screenshot including 4 indicators:
Bollinger Band
Ichimoku (Ichimoku Cloud, Ichimoku Kinko Hyo)
Parabolic SAR
Awesome Oscillator
You said:
“Wait for the short candle”
Did you mean RED candle?
Also:
“sar dot is side by side”
what is side by side? Did you mean horizontal? Did you mean vertical (probably not)?
Passing which Bollinger Band, upper or lower: probably upper since it seems like you are showing the downtrend? But if high impact news are there breakout of upper Bollinger Band means trend continuation.
Also:
“pass bb”
what did you mean by ‘‘pass’’? That it just go away from it?
On the screenshot you provided I don’t see any reaching/touching or even breaking the Parabolic SAR dot, regardless of quantity of dots.
Anyway, to simplify the post, I will describe exactly how I understand your screenshot (four indicators used). My understanding is the following:
Conditions (all must be met):
-
Upper shadow of current green candle or body of current green candle must reach upper Bollinger Band but must NOT breakout (pierce) it. The size of this current green candle and the size of previous candle are irrelevant. Also the size of both candles’ shadows (upper and lower) are irrelevant. Means previous candle could also be indecision candle.
-
The body (must be body and not shadow!) of both green candles from first condition must upward breakout the RED Ichimoku Cloud. Just like in first condition, also here, what is happening with Parabolic SAR is irrelevant.
-
Red candle must occur. Size of the body and size of upper/lower shadows are irrelevant.
-
Either red candle’s lower shadow or its body must fall into the area of RED Ichimoku Cloud.
-
When 4th condition is met, the Parabolic SAR dots must go upward and the [B]top (the highest)[/B] dot must be BELOW [B]BOTH[/B]: below the red candle (including lower shadow) and below ENTIRE (here is the key point in confirming if my understanding is correct: is the word ‘‘entire’’ really correct one?) area of RED Ichikomu Cloud.
-
Awesome Oscillator must be above 0.
-
Awesome Oscillator must turn from green to red and the red bar must be lower than green bar.
So this is my understanding of your screenshot but obviously one most important info is missing in both my and (i think so) your post(s) too: What are those conditions for? If all 7 are met, what should happen? The most obvious answer I can think of is: Conditions must be all met in order to open Short (downtrend) position.
I believe there are several mistakes in my understanding (7 conditions) but the appropriate way to learn what you are saying is how I understand and then you could tell me where I am correct and where not - what is correct instead.
However honestly, I still don’t see how could I protect myself from account explosion in this way. I have nowhere else to earn money from because I deposited on trading account everything I have. Currently 82% of my balance is in loss on opened positions (all 10 in loss) and it would be disaster if it goes for further around 300 EUR.
Ok don’t have to be so complicated…i want to say another thing is, my candles are heiken candle not orginal Japanese candle… The reading is very much easier to read than Japanese candle. Maybe my photo is too small n complicated… Many trader if see my chart they will think it long position., meaning buy positions but it opposite. Look at sar.
See the No1 photo. If Sar is far away from price. It will b continuous going up if it bullish. N keep going down if bearish.
See the no 2 u see the Sar is side by side? N the price pass over it?
Yes I see you are speaking pretty much about basics of Parabolic SAR and Bollinger Bands. But for BB there is no guarantee on trend reversal when price touches upper (in your case) or lower band. Particularly if large news are going on, the trend will continue in the same direction. It is better to trade upon trend REVERSAL theory (BB) when there are no news and of course upcoming candle should be checked too. Also larger time frame charts too to make sure on all checked charts the trend is going into wanted direction. Another important condition is that as far as I know to trade according to reversal then the bands (upper and lower) must NOT diverge. Neither continue to diverge nor resume to diverge because this is showing that trend direction will continue.
I know the basics of both indicators so it is understandable what you said but what I don’t understand is how could I protect myself as much as possible from account explosion? I need to do/reach some impossible magic here such as changing current market price based on phone call to the Exchange Market Institution. As weird as it sounds, I don’t think anything else would help me.
There are three symbols that are doing extreme worry, sleepless nights, anger and sadness for almost four months ( ! ). One of those three symbols is GBPJPY. Since I am in terrible loss on my short position I would need as bad as possible news for JPY because this would cause (at least i think so) so much needed uptrend. I noticed there is a high impact news on monday involving JPY where Mr. Kuroda (google about him if you don’t know the person) speaks. Perhaps if I try my best to get his phone number and ask him to speak as bad as possible about JPY, it might help and I am being very serious. But this is illusion because no person, being on so extreme job position, would talk bad about own national currency. I don’t know what else to do.
If I had any other source of income, I would try to deposit some more money on my trading account to protect myself against account explosion. But honestly, I am being extremely worried and also [B]deeply apologize[/B] to every single member of this forum for ‘‘crying’’ here.
BB of course have to match with the Sar if not the tread will b keep going on. Mean no sigh of reverse. Maybe I’m a scalper. Long time frame don’t work for mi. My max is 1h. Whenever price pass sar n bb there sure b pull back. That where I earn my pips on the pull back. I’m telling u cos maybe u can use my way to slowly win your pips back… I understand what u saying n know u in very stress situation… As what u say…[B] (((I need to do/reach some impossible magic here such as changing current market price based on phone call to the Exchange Market Institution. As weird as it sounds, I don’t think anything else would help me.)))[/B] I can say it really impossible…I can’t help u with that…sorry… U know it weird yourself also… There another suggestion is. Heart pain close all the trade with losses. And start all over again… As long as there is forests don’t have to worry no woods to burn…
May God be with us
I just got another idea what could be done, been figuring out a lot and it seems to be last solution I could think of to save my balance. It seems more dangerous than impossible but may also be impossible. The idea is pretty much basic: I would need few trading symbols, can even be one or two only, that would as close as possible to 100% guarantee very huge profit in extremely (e.g. max few trading hours) short time. This way I could increase the balance a bit and create as large as possible difference between current loss (positions currently being opened - all in loss) and balance on trading account, obviously in opposite +/-.
Now here are few facts I need to be aware of:
- I already have by far far far too many opened positions.
- Since I don’t have any saved physical cash, it is impossible to do any deposit so the only way to increase the balance quickly is to win some trades with a speed of light.
- Even if I had cash that I could us to deposit funds on trading account, the bank transfer takes in average between 48 and sometimes even 72 business hours. In that time god knows what will happen on my account.
- There is no such thing in trading world as ‘‘100% guaranteed win’’ or ‘‘almost 100% guaranteed win’’ or ‘‘very large distances in wanted direction in very tiny time’’.
- I have been learning trading for a while so I am not complete beginner but in the situation I am currently in, I don’t trust myself ( ! ) to pick such trading symbol as needed. Also I don’t have anyone to suggest me anything regardless of financial instrument type (may not even be currency pair).
The most efficient way to avoid “account explosion” is to limit the capital at risk if price should go from entry to stop-loss to a small percentage of the total account value - traders doing this often select either 1%, 2% or 5%, but the lower the better until you are consistently profitable.
Obviously, there is a need to take into account multiple positions in the same direction in highly correlated instruments, e.g. 10 long positions on one or more USD-based pairs. This is like having 1 position that is 10 times bigger than your % risk limit so avoid doing this.
A possible way to reduce the damage if an uptrend should reverse unexpectedly might be to place short-term sell orders against open long positions. These can even be above your long stop-loss price levels, as long as you take profits from the short-term shorts quickly after they trigger. Most price falls within an uptrend are pull-backs, not reversals, so you could gain some quick profits into your account by quick shorts on the pull-backs. This grows your account but also reduces the psychological pressure on the longs to perform.
And psychological pressure is I believe your biggest enemy. Nobody has ever put a gun to your head and made you open 10 trades.
Yes agreed with tommor. And This is what I’m telling u puppy0. Use scilping
Unfortunately, I lost my trading capital for 3 times by applying this complicated trading style! This is way, now I totally avoid hedging trading style in my live trading account! I seem, hedging is not appropriate trading style for the general traders! If you have enough knowledge and experience on hedging, then it’s okay but don’t block your money if you don’t know details about hedging trading!
I’m sorry that u lost your capital 3x… Scalping is the best strategy that was able to help you. If u think it doesn’t work for you. The last option u can do is heart pain n close all the trade and start all over again. But trade wisely. I been thinking of the way how u trade. I nv see the screen shot so I don’t know how u trade. I have a screen shot to show u using my the other micro account. The trading chart is happening right now. Profit have taken already. Total there r 3 trade. No1 n 2 it obviously is a uptrend but I still take the risk to place order cos I want show u 1 of the way how to hv wining pips. The 3rd was the real entry of my hunting the reverse.
The purpose of this thread hedging is useful or not. In order to me, hedging is an investment to reduce the risk of adverse price movements. Practically hedging brings no profit because of your intention. When I open a trade, I always try to support my trade even the trend is going against me. So better to close the trade and open a new one when it seems to be in right trend.
Yes, u hv a point too. But depends on the trader. Every trader trading habits is different
Seem to be in right tread… Means the trader is not confident enough that it is in the right tread… If the the case, my advise is nv go into place any order. In case hv 4 to 5 wrong trade in a row…
By hedging actually we can protect the trading account from a sudden blow up but here we have to keep eye on the spreads because if we keep on hedging, we will keep on decreasing the remaining pips number.
At the moment of typing this message, I am only 40€ left from ‘‘account explosion’’ and a loss of entire balance. At the time when you will read this exact message you (yes you - with full respect to you) are reading, the balance will be most likely entirely lost already. Unable to do any hedging at all, even for 0.01 lots because it says No Money but i shouldn’t open any new trades at all and i am very aware of it. Since all my savings are on trading account, I have no idea what will I do. :mad:
Hedging is of course useful, thats how you limit your risk without taking hard losses at points where you dont want to