freakgib Posted February 20, 2011 Report Share Posted February 20, 2011 (edited) Hi there people as u maybe know i like to do a lot of hedgin so i did get some nice systems who give good results one of the best systems i have is the S.T.A.R. system i use it for almost 3 years and it gives good results. only problem i have is my own bads risk managment and mindset but that is getting better and better . oke what i would like to get a bit automated is the following when the STAR system tells us there wil be a reversal we place an order at the trigger price and an stop at the Trend extreme ( trend Extreme is the highest or the lowest point of the market at that moment) after that the market sould reverse and give u some realy nice pips but what somethimes happens it wil go past the trend extreme only for a small bit and then come back to reverse so i did do the following using the Sure Fire hedging strategy it works like this when u place for example a short with a limit at 30 pips and a stop at 60 pips u also place a hedgin pending order at 30 pips above the running short order the hedgin order is 3 times the size of the running order also the limit is at the stop of the running order and the stop of the pending order is at the limit of the running order so the range at where the market can move is 90 pips in this example every time the market comes back and hit the pending order it wil be activated and u have to place a new pending order in the opposite direction 30 pips away from the at that moment running order. looks like this TP --------------- SL---------------------------------------------------------------------------------------------- ^ ---------------------------------------------- Break even TP---------------- 30 pips Buy 1 lot--------- -------------------------------------------- Not yet placed Pending order long 6 lots ^ ------------------------------------------------------- ^ 30 pips ---------------------------------------------------------------------------- Range 90 pips ---Sell Stop 3 lots ---------------------------------- SL 30 pips---------------------- ^-- 60 pips ^ 30 pips SL--------------- TP--------------------------------------------------------------------------------------------- as u can see above the orders are always placed at the same place 30 poips away from each other the first order is 1 lot or 0.1 or 0.01 the next pending order is 3 times but after that it is 2 times the size what i would like to have is an EA who place the first order and with TP and SL of 30 60 or 15 30 or combinations of that and after that placing an Pending order in the opposite direction as soon as that one is triggerd placing again a pending order at the opposite direction but that one has a Limit at break even at that point i just want to stop and get out the market is moving to much sideways would something like this be possible to make i did make a calculation in Excell it also include the Spread but i have to stay behind the computer and every time place a new pending order of the market swings within that range i did make so again hoping for some good programmers who can make this Edited February 20, 2011 by freakgib Quote Link to comment Share on other sites More sharing options...
juicyt Posted February 20, 2011 Report Share Posted February 20, 2011 I'd much prefer a programmer to make an EA just for the STAR system, infact hell, I'd be happy for an indicator that worked out all the rules for me and alerted me to a trade... Quote Link to comment Share on other sites More sharing options...
alexkaras Posted February 20, 2011 Report Share Posted February 20, 2011 I'd much prefer a programmer to make an EA just for the STAR system, infact hell, I'd be happy for an indicator that worked out all the rules for me and alerted me to a trade... HAHAHA!! I wouldnt mind instructions for STAR in a less complex way so i can actually start trading with it! Quote Link to comment Share on other sites More sharing options...
freakgib Posted February 20, 2011 Author Report Share Posted February 20, 2011 (edited) wel i think for now it is impossible to create a EA for the STAR system but if u guys own the system and have problems understanding it u can PM me Edited March 5, 2011 by freakgib Quote Link to comment Share on other sites More sharing options...
alexkaras Posted February 20, 2011 Report Share Posted February 20, 2011 wel i think for now it is impossible to create a EA for the STAR system but if u guys own the system and have problems understanding it u can PM me i am not allouwd and i dont want to talk puplicly here about how that systems works because i am a member of there site Wow!! Im so happy to read this! I will go over the system again and then PM you some questions! Thanks in advance! Quote Link to comment Share on other sites More sharing options...
freakgib Posted February 25, 2011 Author Report Share Posted February 25, 2011 (edited) here a picture about what i ment about the Hedging Strategy http://www.xs4all.nl/~freakgib/Trading/chfjpy.gif the second pending order wil be placed on the same place as the first order and has the same stop and limit as the first order. and my idee was if after the second order the market is stil in the channel of the stop and the limit i would like a final pending order with a stop at break even. Edited February 25, 2011 by freakgib Quote Link to comment Share on other sites More sharing options...
iwjw Posted February 25, 2011 Report Share Posted February 25, 2011 I'm doing forex for quite a while but I still haven't got what that hedge thingy is all about If a trade is going against me I will close it at a certain point. I can always get back in or trade the "new" direction How do you decide when to hedge a trade?....and if the hedge is going against you, also...do you hedge the hedge? If you're long 0.1 and it's going against you...why open a 0.3 short and not close the long and go short 0.2? So what is the hedge good for? Is it a mental thingy?...as long as I haven't closed the position it's not a loss for me? Quote Link to comment Share on other sites More sharing options...
freakgib Posted February 25, 2011 Author Report Share Posted February 25, 2011 u are right afcource but i use this system together with S.T.A.R. that system tells us when a trend is going to end and gives us a Trigger after u get a pullback just after the last Low or high of the market at a certain timeframe. so as a example the market is in a downtrend and if all the creteria are there for a compleet STAR setup we get the last part and that is the trigger. the trigger has always the same pattern u have the last low (trend extreme) then a pullback and a retrace back close to the trendextreme somewhere there we wil get the trigger to go long so if we have our trigger and lets say that trigger is 15 pips away from the trend extreme i normaly go long and place a stop just below the trend extreme but sometimes ( no system is 100%) the market is making a new low but not so much and them going reverse to make a Good long so after some time and beeing able to hedge i was thinking i want to stay in the trade but not sitting all the time behind the computer why not try hedging and if it really goes down a lot i stil got a profit but if it goes up again before hitting the stop i need to place again a hedging order so still need to stay behind the computer thats why i did ask for if it would be possible to make it half automatic i kind of a bot where i can say here we go long then place a pending(virtual) order short and if that one gets triggerd place a pending (virtual) order long again and after that try to go out at break even cos the market is moving to long sideways something like that Quote Link to comment Share on other sites More sharing options...
HunFxTrader Posted February 26, 2011 Report Share Posted February 26, 2011 method + expert what i would like to have is an EA who place the first order and with TP and SL of 30 60 or 15 30 or combinations of that You can find the method and the EA here: http://www.forexfactory.com/showthread.php?t=171034 Quote Link to comment Share on other sites More sharing options...
freakgib Posted February 26, 2011 Author Report Share Posted February 26, 2011 You can find the method and the EA here: http://www.forexfactory.com/showthread.php?t=171034 Thx going to test it as soon as the market is active again taipan 1 Quote Link to comment Share on other sites More sharing options...
freakgib Posted March 4, 2011 Author Report Share Posted March 4, 2011 (edited) Thx going to test it as soon as the market is active again i did test it but it is not doing what i like this version just place a order and then if it goes wrong place a opposite order and somehow closes the other one wel all trades where a loss but stil thx for the charing i am looking for a half automated bot one where u can say place at this price a long order or short and a opposite order at XXX distance and then following the Sure Fire hedging strategy rules do like 2 times a opposite order after that, then the last opposite order and all the stop sould be placed at break even i know it works i did do it manualy a few times but it did also fail a few times because i was at sleep and not able to place a opposite order again or go out at break even Edited March 5, 2011 by freakgib Quote Link to comment Share on other sites More sharing options...
freakgib Posted March 4, 2011 Author Report Share Posted March 4, 2011 i did make my self a automated Excell file some time ago and did add the Calculation for Sure Fire Hedging Strategy in it if u guys can take a look at it mmaybe there is a way to put it in metatrade as an EA/indicator http://www.xs4all.nl/~freakgib/Trading/pip_Calculator%201.4.3.ods made it in openoffice Quote Link to comment Share on other sites More sharing options...
HunFxTrader Posted March 5, 2011 Report Share Posted March 5, 2011 The same method has been used in the 4x cash compounder robot however that ea uses the fibonacci sequence for the lot increasement. You can check the performance of that ea on the FPA website here: http://www.forexpeacearmy.com/metatrader_expert_advisor/4x_cash_compounder/demo Quote Link to comment Share on other sites More sharing options...
freakgib Posted March 5, 2011 Author Report Share Posted March 5, 2011 The same method has been used in the 4x cash compounder robot however that ea uses the fibonacci sequence for the lot increasement. You can check the performance of that ea on the FPA website here: http://www.forexpeacearmy.com/metatrader_expert_advisor/4x_cash_compounder/demo thx interesting Bot Quote Link to comment Share on other sites More sharing options...
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