million dollar question (this is it!)

[foredog]

u had loss, so to make some profit, you can add some trade in the some X zone, and profit..?

which would effectively be a new trade since you've locked in a loss on the other two trades as my example above showed.

on average you'd have a profit but a lot of the profit from you're "new" trade would be eaten up by the previous loss

 

[everyonerich]

Yes everyonerich,
I use to do this alot, in fact, this part of my trading strategy, if I am stuck into 2 extreme positions mentioned above.
What i do is to continue trading , by adding more positions as at when its near to either
extreme position, If today the position more closer to lower iposition, I will try to maximise my positions.(anti positions or hedging postions) to reduced the spread of the extreme postions. So the same strategies applies to the top extreme positions).
These will eventuallly, will be postive to your equity . And of course , alot of scarifies to to made too( I believe in the philosophy of "If there is no sacrifies, there'll be no development/profit".)
May be my strategy may not suits you?

nah.. not 1000 pips of difference, its just example. but maybe 100 pips between buy and sell only

nobody knows about your strategy, maybe tell us more in detail what position you add if price is at some level

 

[everyonerich]

which would effectively be a new trade since you've locked in a loss on the other two trades as my example above showed.

on average you'd have a profit but a lot of the profit from you're "new" trade would be eaten up by the previous loss

based on your previous post, i assume you add another sell position if price reach 1.2990? assume if you added, then market went up again..what you do? and if keeps going up you'll be holding big loss.. what you do to prevent the big loss? (other than exit losing position or hit stoploss)

 

[foredog]

based on your previous post, i assume you add another sell position if price reach 1.2990? assume if you added, then market went up again..what you do? and if keeps going up you'll be holding big loss.. what you do to prevent the big loss? (other than exit losing position or hit stoploss)

Simple fact, you can't avoid that loss, you either exit the trade ( by closing or taking the exact same trade in opposite direction,thereby locking in that loss) or you leave it to run.

If you are short and the market is going up you're losing money on THAT trade...FACT

 

[Hoggums]

I'm pretty sure there's no guaranteed strat that will result in breakeven - let alone a profit. you need to realise you might as well realise that loss than holding a net zero position. There is NO difference between the two - it's just in your head - you are unable to accept a loss.

The only thing I can think of - Assuming the price is between 1.3 and 1.4 currently, You could sell 2 options, forming a short strangle to realise profit in your dead zone between 1.3 & 1.4. However given the 1000 point width of this strangle I can't see how you could price it to get break even between 1.3 & 1.4 without risking significant losses outside this range.

 

[everyonerich]

for those interested, please participate at post no.18

 

[foredog]

Regardless of what price you trade at if you buy something at a higher price and sell the same amount at a lower price then you have established a loss.

1 pip, 100 pips 10000000 pips it doesn't matter, there is still a difference in price therefore a loss.

That is why there is no answer to your post 18.

If you buy and it goes down, cut, and either go short or wait. simple

 

[everyonerich]

u can always wait for triangle to form then set buy/sell stop. but thats not the point of discussion at the moment..

 

[Technically Fundamental]

How can you even end up in a stiuation whereby you have to completely opposite trades on the same instrument? I'd say cut and run if the trade was small otherwise best hope would re-analysis, close one of the trades, set a wide stop to account for fluxuations and hold on to the trade until you hit the new target.

 

[everyonerich]

How can you even end up in a stiuation whereby you have to completely opposite trades on the same instrument? I'd say cut and run if the trade was small otherwise best hope would re-analysis, close one of the trades, set a wide stop to account for fluxuations and hold on to the trade until you hit the new target.

if cant think of what trade you have to add in some X zone, you dont have the edge

 

[Mr. Charts]

When I read this thread, I don't know whether to laugh or cry.
My jaw drops so far it's in danger of dislocating.

 

[everyonerich]

When I read this thread, I don't know whether to laugh or cry.
My jaw drops so far it's in danger of dislocating.

if youre the only one has the way to make money in the market, u better..

 

[MrGecko]

It's unreal, isn't it.

 

[everyonerich]

for those interested, please participate at post no.18

 

[Hoggums]

You should change your id to everyonerichexceptme because if this is how you trade then that's how you'll end up.

 

[everyonerich]

You should change your id to everyonerichexceptme because if this is how you trade then that's how you'll end up.

you got too much imagination, its bad for trading pal.. if thinking much what you'll do if your plan failed then i wont blame you.

 

[Mr. Charts]

It's unreal, isn't it.

So much so, it's operating in a previously unrecognised dimension without even a worm hole to connect it to anything else.

 

[KillPhil08]

you got too much imagination, its bad for trading pal.. if thinking much what you'll do if your plan failed then i wont blame you.

Actually creativity (or imagination) is an excellent thing to have in trading.

 

[everyonerich]

Actually creativity (or imagination) is an excellent thing to have in trading.

so are you admitting yourself a discretionary trader and enter based on your gut feelings? rules and strict plan never work?


anyone who are able to provide good answer to post no.18 i would pay him/her a million dollar.

 

[elitejets]

so are you admitting yourself a discretionary trader and enter based on your gut feelings? rules and strict plan never work?

What kind of plan would get you into the situation that you are describing?
If I have this right, you enter a long position at 1.40 ...
The position goes against you 100 (or 1000 if it is EURUSD) and you are still holding your long and then go short at 1.30? And apparently you now have a scheme that will turn around this and make you profitable?
I hope you are not planning to sell this because i cannot imagine a very large market for it.

Here is my very blonde solution that requires no charts with X's
Enter long at 1.40, trade does not work, cut trade and short down to 1.30 ...
100 or 1000 pips up and no stupid brain hurting questions.