Some of my forecasts
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Nzd/jpy
MT, the view is mixed, but the ST has a bit of a clearer picture to it. There is the WP, top of the 4-hour cloud and the tenken from 59.18--59.13. That should contain, and then propel the pair to the WR2 at 60.60. If it makes it to the daily kijun at 61.05, then there should be a strong reaction at that point.
MT, the view is mixed, but the ST has a bit of a clearer picture to it. There is the WP, top of the 4-hour cloud and the tenken from 59.18--59.13. That should contain, and then propel the pair to the WR2 at 60.60. If it makes it to the daily kijun at 61.05, then there should be a strong reaction at that point.
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Raj ,anytime that I refer to hedging in my personal trading it is always forex.
You can enter a trade on a pair going one direction, which is the case of a recent position on the EUR/USD. When it hit my MR1, I could see momentum waning, so I entered a trade going in the opposite direction. The object here is that on a hedge that is against the trend you just have to be quick on the trigger. It's designed to give some pips, even though the previous trade is currently going against you.
I also use a hedge as a stop. As an example, I might know the market has peaked, so I want to go short. OTOH, if it goes against me, it would pierce a very key area, and the original trade could go against me quite a few pips. Either I would set a stop, or a hedge. If it rose to the next level, then reversed, the trade would have the net effect of entering at that level, because of the pips gained on the hedge.
You can enter a trade on a pair going one direction, which is the case of a recent position on the EUR/USD. When it hit my MR1, I could see momentum waning, so I entered a trade going in the opposite direction. The object here is that on a hedge that is against the trend you just have to be quick on the trigger. It's designed to give some pips, even though the previous trade is currently going against you.
I also use a hedge as a stop. As an example, I might know the market has peaked, so I want to go short. OTOH, if it goes against me, it would pierce a very key area, and the original trade could go against me quite a few pips. Either I would set a stop, or a hedge. If it rose to the next level, then reversed, the trade would have the net effect of entering at that level, because of the pips gained on the hedge.
How do you set a stop for a hedge.
EUR/USD reached MR1 and u have hedged against the trend. EUR/USD continued to move north and what will be your stop for the hedge.
I dont like to close my long positions because of a correction so hedging is a good option but just wanted to know how to handle when it behaves otherwise.
Regards
Raj
Mr paul I was not trying to copy anyone or idea's I had my own views on them which I got more confident after you added it! regarding nzd/jpy I looked at the first time, I never analysed it I said I wouldn't say much except I was asking your view on it I ask for helps and updates and your views on my posts openly ! I was just asking for your views I was not expecting it is gonna be the purpose for bragging me later for doing it wrong
You could have pm'd me ! the post was a direct insult to me for something that was not meant but felt by you I didn't realize it, you could have told this personally ! I had no such intentions ! You completely misunderstood me on the FA talk it was my personal view I wrote it with my own hand what I meant was trading cannot be done on Based on F.A ! if you feel that I copied from you and repeating it again and again trying to impress or show that it was mine I didn't mean it !and I was not aware of the fact that you could think this way! R were marked on my own charts and I also noted it from action forex! today I requested for your views you have a differnt view that 1.3479 could contain before going up! I had 1.3543 on it! I would have add it to mine! i wanted to keep it up and running!posting it again and again discussing it again and again everday every pair that is what I wanted I meant no repeating mantra's like they were my own and stolen from you and post it it here to impresss someone that I am right! I would be ashamed if I would do that, I can never even think like that! every body here knows You do it! Nothing was intentionaly copied from your threat and then re-posting it to impress someone!every help is appreciated and every view of yours is added to my knowledge ! but I Sincerely apologize to you for doing such posts in your thread that had an act of stolen ideas! I didn't realize it !
Sorry
You could have pm'd me ! the post was a direct insult to me for something that was not meant but felt by you I didn't realize it, you could have told this personally ! I had no such intentions ! You completely misunderstood me on the FA talk it was my personal view I wrote it with my own hand what I meant was trading cannot be done on Based on F.A ! if you feel that I copied from you and repeating it again and again trying to impress or show that it was mine I didn't mean it !and I was not aware of the fact that you could think this way! R were marked on my own charts and I also noted it from action forex! today I requested for your views you have a differnt view that 1.3479 could contain before going up! I had 1.3543 on it! I would have add it to mine! i wanted to keep it up and running!posting it again and again discussing it again and again everday every pair that is what I wanted I meant no repeating mantra's like they were my own and stolen from you and post it it here to impresss someone that I am right! I would be ashamed if I would do that, I can never even think like that! every body here knows You do it! Nothing was intentionaly copied from your threat and then re-posting it to impress someone!every help is appreciated and every view of yours is added to my knowledge ! but I Sincerely apologize to you for doing such posts in your thread that had an act of stolen ideas! I didn't realize it !
Sorry
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Raj, there are, like anything else when it comes to trading, many variables in hedging. What I shared with you was the idea to capture some pips while your trade goes against you.
As far as the stops are concerned they can be managed in many ways.
First of all, if you enter a hedge, and you know it is going your way, but it goes against you at the beginning, then one way to do it is just let it run. After all, if the initial position is already in the money, then the worse case scenario is a breakeven from that point. Let's now say the hedges finally moves in the hedge's favor, then just take it out wherever you feel comfortable. If you get 50 pips, 20 pips, or even 5 pips, that is still more than if you never entered it.
Let's say the market is going in your favor from the original position, and you know it will continue. Let's also say you are looking at the hourly or 4-hour chart, and you know it is the MT trend is about to correct. AT that point enter the hedge like you would any other position. Just enter, add your stop like you always would do, add the TP, and collect your pips. When the correction is finished, you are back to gaining pips on your original trade.
I look at a hedge in those examples as nothing more than bonus pips, so I am as conservative as possible on them. If I collect 10 pips and leave 100 on the table, then big deal! It is bonus money.
Here's a complete different scenario. Many times price is in a channel and the trade does not know which way it will go. At that point, scalp a position in the direction you know it is going to go. After it has moved comfortably in your favor, then enter the hedge. There should be net positive pips on the 2 trades.
Now we'll say price action broke out. One trade is moving in your favor, but the other looks ugly. At this point, be patient. Just ride it until you hit a major S or R, and then take out your good side. Ride the one that looks ugly. You might only ride it half way back. One side might be +100 pips, and the other is -50 pips for a net gain of +50 pips.
You could also add an additional position at that key area, then ride it back. Now you have the original position at +100 pips. The hedge that went bad at -50 pips, and the newest position at +50 pips for a net gain of +100 pips.
Those are some of the basic ways I use a hedge in trading spot forex. Options might be completely different, which is not my expertise.
As far as the stops are concerned they can be managed in many ways.
First of all, if you enter a hedge, and you know it is going your way, but it goes against you at the beginning, then one way to do it is just let it run. After all, if the initial position is already in the money, then the worse case scenario is a breakeven from that point. Let's now say the hedges finally moves in the hedge's favor, then just take it out wherever you feel comfortable. If you get 50 pips, 20 pips, or even 5 pips, that is still more than if you never entered it.
Let's say the market is going in your favor from the original position, and you know it will continue. Let's also say you are looking at the hourly or 4-hour chart, and you know it is the MT trend is about to correct. AT that point enter the hedge like you would any other position. Just enter, add your stop like you always would do, add the TP, and collect your pips. When the correction is finished, you are back to gaining pips on your original trade.
I look at a hedge in those examples as nothing more than bonus pips, so I am as conservative as possible on them. If I collect 10 pips and leave 100 on the table, then big deal! It is bonus money.
Here's a complete different scenario. Many times price is in a channel and the trade does not know which way it will go. At that point, scalp a position in the direction you know it is going to go. After it has moved comfortably in your favor, then enter the hedge. There should be net positive pips on the 2 trades.
Now we'll say price action broke out. One trade is moving in your favor, but the other looks ugly. At this point, be patient. Just ride it until you hit a major S or R, and then take out your good side. Ride the one that looks ugly. You might only ride it half way back. One side might be +100 pips, and the other is -50 pips for a net gain of +50 pips.
You could also add an additional position at that key area, then ride it back. Now you have the original position at +100 pips. The hedge that went bad at -50 pips, and the newest position at +50 pips for a net gain of +100 pips.
Those are some of the basic ways I use a hedge in trading spot forex. Options might be completely different, which is not my expertise.
Paul, Thanks for your explanation. I got your point.
How do you set a stop for a hedge.
EUR/USD reached MR1 and u have hedged against the trend. EUR/USD continued to move north and what will be your stop for the hedge.
I dont like to close my long positions because of a correction so hedging is a good option but just wanted to know how to handle when it behaves otherwise.
Regards
Raj
How do you set a stop for a hedge.
EUR/USD reached MR1 and u have hedged against the trend. EUR/USD continued to move north and what will be your stop for the hedge.
I dont like to close my long positions because of a correction so hedging is a good option but just wanted to know how to handle when it behaves otherwise.
Regards
Raj
Raj, there are, like anything else when it comes to trading, many variables in hedging. What I shared with you was the idea to capture some pips while your trade goes against you.
As far as the stops are concerned they can be managed in many ways.
First of all, if you enter a hedge, and you know it is going your way, but it goes against you at the beginning, then one way to do it is just let it run. After all, if the initial position is already in the money, then the worse case scenario is a breakeven from that point. Let's now say the hedges finally moves in the hedge's favor, then just take it out wherever you feel comfortable. If you get 50 pips, 20 pips, or even 5 pips, that is still more than if you never entered it.
Let's say the market is going in your favor from the original position, and you know it will continue. Let's also say you are looking at the hourly or 4-hour chart, and you know it is the MT trend is about to correct. AT that point enter the hedge like you would any other position. Just enter, add your stop like you always would do, add the TP, and collect your pips. When the correction is finished, you are back to gaining pips on your original trade.
I look at a hedge in those examples as nothing more than bonus pips, so I am as conservative as possible on them. If I collect 10 pips and leave 100 on the table, then big deal! It is bonus money.
Here's a complete different scenario. Many times price is in a channel and the trade does not know which way it will go. At that point, scalp a position in the direction you know it is going to go. After it has moved comfortably in your favor, then enter the hedge. There should be net positive pips on the 2 trades.
Now we'll say price action broke out. One trade is moving in your favor, but the other looks ugly. At this point, be patient. Just ride it until you hit a major S or R, and then take out your good side. Ride the one that looks ugly. You might only ride it half way back. One side might be +100 pips, and the other is -50 pips for a net gain of +50 pips.
You could also add an additional position at that key area, then ride it back. Now you have the original position at +100 pips. The hedge that went bad at -50 pips, and the newest position at +50 pips for a net gain of +100 pips.
Those are some of the basic ways I use a hedge in trading spot forex. Options might be completely different, which is not my expertise.
As far as the stops are concerned they can be managed in many ways.
First of all, if you enter a hedge, and you know it is going your way, but it goes against you at the beginning, then one way to do it is just let it run. After all, if the initial position is already in the money, then the worse case scenario is a breakeven from that point. Let's now say the hedges finally moves in the hedge's favor, then just take it out wherever you feel comfortable. If you get 50 pips, 20 pips, or even 5 pips, that is still more than if you never entered it.
Let's say the market is going in your favor from the original position, and you know it will continue. Let's also say you are looking at the hourly or 4-hour chart, and you know it is the MT trend is about to correct. AT that point enter the hedge like you would any other position. Just enter, add your stop like you always would do, add the TP, and collect your pips. When the correction is finished, you are back to gaining pips on your original trade.
I look at a hedge in those examples as nothing more than bonus pips, so I am as conservative as possible on them. If I collect 10 pips and leave 100 on the table, then big deal! It is bonus money.
Here's a complete different scenario. Many times price is in a channel and the trade does not know which way it will go. At that point, scalp a position in the direction you know it is going to go. After it has moved comfortably in your favor, then enter the hedge. There should be net positive pips on the 2 trades.
Now we'll say price action broke out. One trade is moving in your favor, but the other looks ugly. At this point, be patient. Just ride it until you hit a major S or R, and then take out your good side. Ride the one that looks ugly. You might only ride it half way back. One side might be +100 pips, and the other is -50 pips for a net gain of +50 pips.
You could also add an additional position at that key area, then ride it back. Now you have the original position at +100 pips. The hedge that went bad at -50 pips, and the newest position at +50 pips for a net gain of +100 pips.
Those are some of the basic ways I use a hedge in trading spot forex. Options might be completely different, which is not my expertise.
I have been in situations where I know the trend will continue but worried what if reaches back and or have to wait longer, it affects psychological and creates confusion, at the end book profits without riding the entire trend.
I am really learning a lot from you but how I apply is a key thing. I wanted to be a very conservative trader where I can apply each technique to understand it well. I am sure that it will come with time and experience.
Thank you for your time Paul. I call it off for today. Good nite everyone.
Regards
Raj
Forexworld, my intent, even though it seems I am a cold-blooded individual at times is not defend me or my views. My reputation, good or bad, has been established.
The idea is that I know you are starting off as a trader. LOL, it is hard to believe that it was only 8 days ago that Forexworld swooped in on "Some of my forecasts" and made his presence known. In starting off, if you are going to learn what you need to learn and appropriate all the proper tools, then it is one thing to share your ideas, thoughts, and trades, but another to take what someone (Again, it does not matter it is me. We could be talking about anyone.) says then give your projections like they came from your own head (The other thread, as an example.). That is why I had you give me your view, especially on the NZD/JPY, just to show the real FW.
Also, when your thoughts and projections are not yours from a convictional point of view, then they are going to be scattered, because they are not a true part of you. The example was when I posted your 2 views on the EUR/USD, and also someone else called you on it.
The post is never meant as an insult. Your request was open, so I addressed it as open. What if it appeared I totally ignored your request after we took care of things behind the scenes? How does that make me look? Also, we have talked via PM, and that is also where it will stay
I would keep this in mind. We are all friends here, but at differing levels in our trading. We are all in school, as there are no degrees in trading. I'm certain no one is looking down at you or thinks less of you, just like I don't think anyone thinks less of me for starting this whole thing. Plus, if they pick on you, I'll get Tucker after them--lol.
Bottom line is make what you learn yours. Make it your knowledge and skills and not talking points. I was showed by someone else the ichimoku. I copped an idea from someone to come up with my S&R's. I also learned to trade using TL's from someone else. (Here's the key point) If I had just accepted what these good people had to say, or just copied them, I'll guarantee you I would still be wishing, hoping, and dreaming about that day I became a good trader.
That, my friend, is the bottom line.
I apologize for it appearing that I was trying to embarrass you. That was not my intent. I know there are times I'm more direct and outspoken for my own good. LOL, my closest friends love me for it, and my worse enemies hate me for it. I'd rather be your friend.
The idea is that I know you are starting off as a trader. LOL, it is hard to believe that it was only 8 days ago that Forexworld swooped in on "Some of my forecasts" and made his presence known. In starting off, if you are going to learn what you need to learn and appropriate all the proper tools, then it is one thing to share your ideas, thoughts, and trades, but another to take what someone (Again, it does not matter it is me. We could be talking about anyone.) says then give your projections like they came from your own head (The other thread, as an example.). That is why I had you give me your view, especially on the NZD/JPY, just to show the real FW.
Also, when your thoughts and projections are not yours from a convictional point of view, then they are going to be scattered, because they are not a true part of you. The example was when I posted your 2 views on the EUR/USD, and also someone else called you on it.
The post is never meant as an insult. Your request was open, so I addressed it as open. What if it appeared I totally ignored your request after we took care of things behind the scenes? How does that make me look? Also, we have talked via PM, and that is also where it will stay
I would keep this in mind. We are all friends here, but at differing levels in our trading. We are all in school, as there are no degrees in trading. I'm certain no one is looking down at you or thinks less of you, just like I don't think anyone thinks less of me for starting this whole thing. Plus, if they pick on you, I'll get Tucker after them--lol.
Bottom line is make what you learn yours. Make it your knowledge and skills and not talking points. I was showed by someone else the ichimoku. I copped an idea from someone to come up with my S&R's. I also learned to trade using TL's from someone else. (Here's the key point) If I had just accepted what these good people had to say, or just copied them, I'll guarantee you I would still be wishing, hoping, and dreaming about that day I became a good trader.
That, my friend, is the bottom line.
I apologize for it appearing that I was trying to embarrass you. That was not my intent. I know there are times I'm more direct and outspoken for my own good. LOL, my closest friends love me for it, and my worse enemies hate me for it. I'd rather be your friend.
Mr paul I was not trying to copy anyone or idea's I had my own views on them which I got more confident after you added it! regarding nzd/jpy I looked at the first time, I never analysed it I said I wouldn't say much except I was asking your view on it I ask for helps and updates and your views on my posts openly ! I was just asking for your views I was not expecting it is gonna be the purpose for bragging me later for doing it wrong
You could have pm'd me ! the post was a direct insult to me for something that was not meant but felt by you I didn't realize it, you could have told this personally ! I had no such intentions ! You completely misunderstood me on the FA talk it was my personal view I wrote it with my own hand what I meant was trading cannot be done on Based on F.A ! if you feel that I copied from you and repeating it again and again trying to impress or show that it was mine I didn't mean it !and I was not aware of the fact that you could think this way! R were marked on my own charts and I also noted it from action forex! today I requested for your views you have a differnt view that 1.3479 could contain before going up! I had 1.3543 on it! I would have add it to mine! i wanted to keep it up and running!posting it again and again discussing it again and again everday every pair that is what I wanted I meant no repeating mantra's like they were my own and stolen from you and post it it here to impresss someone that I am right! I would be ashamed if I would do that, I can never even think like that! every body here knows You do it! Nothing was intentionaly copied from your threat and then re-posting it to impress someone!every help is appreciated and every view of yours is added to my knowledge ! but I Sincerely apologize to you for doing such posts in your thread that had an act of stolen ideas! I didn't realize it !
Sorry
You could have pm'd me ! the post was a direct insult to me for something that was not meant but felt by you I didn't realize it, you could have told this personally ! I had no such intentions ! You completely misunderstood me on the FA talk it was my personal view I wrote it with my own hand what I meant was trading cannot be done on Based on F.A ! if you feel that I copied from you and repeating it again and again trying to impress or show that it was mine I didn't mean it !and I was not aware of the fact that you could think this way! R were marked on my own charts and I also noted it from action forex! today I requested for your views you have a differnt view that 1.3479 could contain before going up! I had 1.3543 on it! I would have add it to mine! i wanted to keep it up and running!posting it again and again discussing it again and again everday every pair that is what I wanted I meant no repeating mantra's like they were my own and stolen from you and post it it here to impresss someone that I am right! I would be ashamed if I would do that, I can never even think like that! every body here knows You do it! Nothing was intentionaly copied from your threat and then re-posting it to impress someone!every help is appreciated and every view of yours is added to my knowledge ! but I Sincerely apologize to you for doing such posts in your thread that had an act of stolen ideas! I didn't realize it !
Sorry
You'er more than welcome, Raj.
I never wanted to open an account with an offshore broker, as hedging is no longer allowed in the USA. Yet this latest broker I have, I'm really happy with. I'll give the name and be all over the city of Traderji announcing it if I still feel the same 6 months from now.
I never wanted to open an account with an offshore broker, as hedging is no longer allowed in the USA. Yet this latest broker I have, I'm really happy with. I'll give the name and be all over the city of Traderji announcing it if I still feel the same 6 months from now.
Wonderful explanation Paul. I got the gist of it..
I have been in situations where I know the trend will continue but worried what if reaches back and or have to wait longer, it affects psychological and creates confusion, at the end book profits without riding the entire trend.
I am really learning a lot from you but how I apply is a key thing. I wanted to be a very conservative trader where I can apply each technique to understand it well. I am sure that it will come with time and experience.
Thank you for your time Paul. I call it off for today. Good nite everyone.
Regards
Raj
I have been in situations where I know the trend will continue but worried what if reaches back and or have to wait longer, it affects psychological and creates confusion, at the end book profits without riding the entire trend.
I am really learning a lot from you but how I apply is a key thing. I wanted to be a very conservative trader where I can apply each technique to understand it well. I am sure that it will come with time and experience.
Thank you for your time Paul. I call it off for today. Good nite everyone.
Regards
Raj
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