TRADE ON OPPOSITE CONDITIONS HEDGE
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Hello friends,
I f conditions are met, I would like to BUY and SELL at the same time. And if opposite of the conditions are met, I would like to close the trade in profits and place a pending order certain pips e.g 10 pips in the direction of the closed trade and also close any other open pending order.Please help me out.
https://fxdreema.com/shared/CrCRVnipc -
@agitins Some initial suggestions:
- Please remove all 'AND' blocks. They are irrelevant for your EA. Your blocks disposition is already using an 'AND' structure.
- Both 'For each position' blocks should be separated and independent from their current positions. Theu need to work on a tick basis not conditioned by everything above them.
Finally, are you fully aware that this strategy will never work on the long run? Are you sure you want to implement it?
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Am not aware sir. Thaught if could be implemented well would work.
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@agitins Well, I regret to inform you that I already tried it some years ago and it fails sooner than later, sorry.
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Dude stay away from hedging. Trust me. U will be left broke at the end of the day. Hedging only favours the brokers. Unless ur trading off news event and market goes other way and u expect market to return back to ur position then hedging is fine. A better and safer way to accomplish what you want to do eould be to use a bolinger band. And code a indicator that picks up when bolinger band hits upper band buy, when bolinger band hits lower band u sell. Its as simple as that my guy...
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@luqmaan Ok thanks, is it to buy when price hit upper BB and sell when hits lower BB or the viceversa
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@agitins yeah u have the ryt idea. basically bolinger band strategy works like this. The centre is the 20sma. If its above the 20sma u buy, bellow the 20sma u sell.
Also when u see market contracting. In otherwards the bands getting close together... u wait. And u watch that thing like a hawk, u will see it making jumps up, jumps down... dont enter on those false signals... u wait my guy, u wait.
When u see that as clear as day that thing is going up or down. Thats when u enter. Then u just ride the mommentum.
A good clue as to where the bands will move is to use an oscillator with it so u can check for overbought or oversold areas. This usually indicates a reversal is about to occour.
In most cases the bolinger band contracts when a reversal is going to occour
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Ok thanx. How can I express a BB consolidation in fxdreema?
