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"The only way to trade with Fibonaccis" journal
- Thread starter 1a2b3cppp
- Start date
I am still puzzled how exactly do u hedge your system... could you shed some light? on position sizing and where exactly to take the opposite swing?
Also, without any hedge.. I am thinking a few megaphone patterns with LL, then HH, then LL again, and HH again, would give u multiple losses..
JMO
Also, without any hedge.. I am thinking a few megaphone patterns with LL, then HH, then LL again, and HH again, would give u multiple losses..
JMO
Quote from speedtrader88:
I am still puzzled how exactly do u hedge your system... could you shed some light? on position sizing and where exactly to take the opposite swing?
There are a few ways that vary a bit based on when you enter. I'm in the process of writing all of this out.
Also, without any hedge.. I am thinking a few megaphone patterns with LL, then HH, then LL again, and HH again, would give u multiple losses..
JMO
If you set the stop loss as the 100% line, then yeah that would be multiple losses.
As I mentioned in this thread, for my current SPY position I wasn't planning on closing it out if it went below that line, and then when that happened, I didn't close it out. In fact, my next add position is below the 100% line.
It depends on how you want to size your positions, your account size, your timeframe, etc.
Quote from 1a2b3cppp:
There are a few ways that vary a bit based on when you enter. I'm in the process of writing all of this out.
If you set the stop loss as the 100% line, then yeah that would be multiple losses.
As I mentioned in this thread, for my current SPY position I wasn't planning on closing it out if it went below that line, and then when that happened, I didn't close it out. In fact, my next add position is below the 100% line.
It depends on how you want to size your positions, your account size, your timeframe, etc.
yup, but isn't the 100% line an ultimate cut loss level? otherwise this would be a typical martingale strat? then you would need very very low leverage if u were long during the flash crash for example.. eagerly waiting your pdf/book at some point.. this thread's gone quiet!!
Quote from speedtrader88:
yup, but isn't the 100% line an ultimate cut loss level? otherwise this would be a typical martingale strat? then you would need very very low leverage if u were long during the flash crash for example.. eagerly waiting your pdf/book at some point.. this thread's gone quiet!!
100% was the cutoff when I was doing it intraday. The leverage is so high that you have to do it that way.
Honest question...Why hedge instead of just reducing position size?