College Fund Challenge

This is a discussion on College Fund Challenge within the Trading Journals forums, part of the Reception category; Originally Posted by Masquerade Please elaborate.... Yes, a buy signal opened a buy about three days ago on the GBPUSD. ...

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Old Nov 26, 2011, 2:14pm   #457
Joined Sep 2010
Re: College Fund Challenge

tkbieber started this thread
Quote:
Originally Posted by Masquerade View Post
Please elaborate....
Yes, a buy signal opened a buy about three days ago on the GBPUSD. As the market began to fall, a sell indicator opened a sell, so that is dead-locked with a hedge at the moment. The USDJPY has a sell which is still waiting closure.
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Old Nov 26, 2011, 3:29pm   #458
 
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Re: College Fund Challenge

So you bought GBPUSD and then sold it? So you're actually flat on GBPUSD?
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Old Nov 26, 2011, 8:02pm   #459
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Re: College Fund Challenge

tkbieber started this thread
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Originally Posted by Masquerade View Post
So you bought GBPUSD and then sold it? So you're actually flat on GBPUSD?
It's hedged with about 98 pips in between the two. The current DD is about 9%.
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Old Nov 26, 2011, 8:49pm   #460
 
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Re: College Fund Challenge

So you've lost 98 pips on it. You're flat. Doesn't matter what you do with those positions, you're 98 pips in the hole on it, all you did was lock in a loss when you took the other side.
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Old Nov 26, 2011, 9:58pm   #461
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Re: College Fund Challenge

tkbieber started this thread
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Originally Posted by Masquerade View Post
So you've lost 98 pips on it. You're flat. Doesn't matter what you do with those positions, you're 98 pips in the hole on it, all you did was lock in a loss when you took the other side.
It's not over til it's over. I've been in this situation before and won both trades. I'll let you know how it ends.
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Old Nov 26, 2011, 10:36pm   #462
 
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Re: College Fund Challenge

Who said anything about over? Fact is you locked in a loss of 98 pips. So you're -98 on that trade. Now if you can manoeuvre the trades you can make the loss back but it'd be incorrect to say you're hedged.
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Old Nov 27, 2011, 12:46am   #463
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Re: College Fund Challenge

tkbieber started this thread
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Originally Posted by Masquerade View Post
Who said anything about over? Fact is you locked in a loss of 98 pips. So you're -98 on that trade. Now if you can manoeuvre the trades you can make the loss back but it'd be incorrect to say you're hedged.
Yes, it's not over until either the SL or TP is hit on both trades. So far, neither one is hit. What it has done is locked in -98 pips or about -4% equity until one of them close out. At this point, the worst that could happen is that there will be one win and one loss. It could just as easily close both in profit as well. Time will tell.

Ok, hedging according to the "books" may mean buy and sell at the same time. What my system does is do a buy or sell on one set-up and then on the next day, if the set-up indicates an opposite trade, the market could have moved several pips in DD on the first trade before the next trade opens the opposite direction. It creates a sort-of "hedging" situation so that there is no further DD until one closes in profit. I've seen this occasionally in the past and just when I think there is no way for both to close in profit then the market just moves the right way and both end up profitable trades. The GBP just keeps getting pounded the last couple of weeks which makes the USD more valuable and the pair keeps going down. At some point the GBP will gain value again but the question is win.

It will be interesting to see how this plays out.
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Old Nov 27, 2011, 4:07am   #464
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Re: College Fund Challenge

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With three trades still open and one closed,
If you show your Open trades, (instead of intentionally and surreptitiously hiding them), then we will treat you as an honest EA vendor.
The alternative is that we will assume that you are trying a scam.
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