centa said...
Hi Jesus, I want to get my head around your current orders. You say short aud/usd at 82.30 and hedge at 83.00 now suppose 83.00 hits first moves up 20 pips or more than drops back down and activates 82.30 when should I close the long hedge position or alternatively 82.30 is first triggered moves 50 or so pips than moves up to hit long at 83.00 when do I close either position?
Secondly most brokers dont allow hedging therefor are there any other suggestions how your trade can be taken. As on most platforms if you have a buy and sell when one gets activated than moves to activate other position your position will be made flat.
Many thanks your work is great.
May 26, 2010 4:36 PM
Jesus said...
well ,, firstly , my wave count centa says that there is very high possiblity that if it breaks the levels 8250 then 8270 then the final resistance 83 then its heading higher , , i dont see it breaking all this levels then retracing all back ,, IF IT BREAKSS 83 U SHOULD HEDGE , that means a break not at 83 itself ,, a break is market by at least half an hour close above it ,,
secondly ,, if you hedge and it breaks higher ,, u should close ur hedge on my second short ,, if it breaks lower u should close the hedge on the first profit target and then it ll bounce and u can then close ur long at lower loss and that will make u out of it with 0 loss if its played well
anyways ,, let me guide u throught the trade ,, if it hits the hedge i ll give notice how to get rid of the hedge
finally ,, my broker dont allow hedging as well ,, u can hedge an AUD/USD 1 unit short by (( longing 1 unit of EUR/USD and shorting 1 unit of EUR/AUD )) that way the position is hedged with no trouble ,, CAD/JPY SHORT can be hedged by (( shorting 1 unit USD/CAD , longing 1 unit USD/JPY )) thats the most accurate hedge if ur broker dont allow direct hedging
Hedge hit! Is the trade now invalid Jesus? Cheers
ReplyDeleteyes , now stay put ,, its valid offcourse , i was expecting this thats why i used half position to take advantage of the second scenario if it goes
ReplyDeletei ll make a winning trade out of this
when should i hedge till at which point?
ReplyDeleteJesus, i've got the hedge on now..at which price do u think i should turn it off?
ReplyDeletei m here guys ,, dont freak out ,, will post my charts in an hour or 2 ,, but for now ,, i m watching the waves count and i see more upside to come ,, so stay with ur hedge untill i give u notice to close it and short second position
ReplyDeletedont freak out guys ,, watch my first trade from the early start , it started like this ,, a position ,, hedged after 50 pips loss , then shorted again from the top and closed hedge ,, then 700 pips profit ,, just be patient and watch the blog closely ,, and plz subscribe to my blog ,, click the follow botton