Hey Everyone, I use this and have created a script in FXDreema for the 1st Hedge to be placed and the SL of the original Position to be moved. From there, I remove the EA because I am stuck and I manage any additional hedge legs that are necessary manually. It is all about proper sizing and placement of the initial stops for your starting position. You need to keep in mind how easily the trade will close based on where the new TP will be of the 1st leg of a hedge. I trade using this technique with great success, happy to share with anyone but I need help. The math is correct in lot sizing based on moving the original position TP to a 1:1 R/R AFTER the hedge order triggers. The math is different if you stay at a 2:1 or 3:1 etc. I prefer to change the trade to 1:1 once hedged so as to close out all positions more quickly. If not 1:1, the distance of the TP of the Hedge will be the same size in pips/pts as your original position's TP. There is a greater possibility of trading in range and needing additional hedged legs. Downside: The lot size increases substantially as you go down from an initial trade of either 3:1/2:1 down to a 1:1. The size of your account is not so much the issue because hedging allows you to generally offset your margin such that only the difference of lot sizing from long vs short is factored against your limits. The bigger issue is if you are in fact adding legs to the hedge, the sideway nature of the trade is causing both sides of the trade to be negative and it makes your floating P/L look pretty rough until the trades close. For anyone with funded accounts, you have to be careful and size down while figuring out how to structure your trades. If anyone is interested in the actual equations for the other R/R ratios I will gladly give them out if we can get some movement and help in completing this EA:)

Needs to work on manual or auto trades and with an on/off button
1st Position opens w/ SL and TP
Turn "on" Hedge EA or drag/drop to chart
1st Hedge:

Pending Order is placed on SL of 1st Position
*LOT Size: 2X of 1st Position
TP of Pending Order is the same size in pips as 1st Position SL.
SL of Pending Order is: 2X Pip Size of TP (0.5R/R)
Move SL of 1st Position to TP of Pending Order
"If" 1st Hedge Triggers, place 2nd Hedge Pending Order:

Move TP of Original Position to SL of 1st Hedge. Now all open positions are at 0.5R/R
Pending Order (2nd Hedge) is placed at the same Entry, SL and TP of 1st Position
*Lot Size: 3X of 1st Position
"If" 2nd Hedge Triggers, place 3rd Hedge Pending Order:

Pending Order is placed at same Entry, SL and TP of 1st Hedge Position
***LOT Size: 2X of LAST HEDGE LOT SIZE
"If" Neither SL or TP levels trigger, Pending Orders (New Hedges) are placed each time price reverses and crosses the opposite Entry Level. Lot Size continues to increase @ 2X of the LAST Hedge. All Buy Orders/Positions have the same Entry, SL and TP. All Sell Orders/Positions have the same Entry, SL and TP. ALL orders will close when TP level is reached on either end of the range.

The last Pending Order that is "NOT" opened should be deleted after the trade closes.

I would love to add a setting that would close ALL orders based on a floating p/l total of all positions in the current hedge.

Let me know what you think and if you'd like me to email you a spreadsheet or anything else. So far I have a very simple FXDreema EA that puts on the 1st hedge order and moves the SL of the 1st position to the TP of the Hedge. I then close the EA and manage the trade manually.

THANKS!!!!!

@realjoker Hola! This is a hedge INSTEAD of SL that I use everyday that works great...but I need help! I have the 1st step and am stuck. Can you check out the thread I started??

https://fxdreema.com/forum/topic/14541/check-out-this-method-of-hedging-vs-stop-loss

Gracias,
Andres

Hey Everyone, I have a hedging system that works instead of using a stoploss. I have posted before but this is a more specific question: How do I keep a count of each trade that is open so that I can change either a SL or TP of ANY of those trades when some condition is met?

https://fxdreema.com/shared/TzrhcA2Ab

Here is the 1st step of the system I use. For the moment, this is how I use it: I activate the EA, place a trade with typically a 2:1 RR and this EA creates a pending order that triggers at the original SL of my open position. The EA also MOVES the SL (open position) to the TP level of the pending order.

I can't figure out from here how to move the TP level of the opening trade IF the 1st pending order (hedge 1) triggers.

I trade using this system EVERYDAY and it allows me to break even or have VERY small losses instead of stopping out. I really need help and would be very happy to walk someone through all aspects of the system if someone could help me with coding in FXDREEMA.

Thanks!!!
Andrew

@l-andorrà Well I will work on it and let you know if I figure anything out...thanks so much for your help!

@l-andorrà Nothing else...the links I have sent are all I have. The first link with the "on trade" version executes and I use it in live trading. I cannot figure out how to get the same/similar code to work in the "on tick" tab as layed out in the last link I sent.

@l-andorrà Here is the error message on the experts tab on MT5:

2022.03.28 21:35:56.455 HedgeTest4A_OnTick (3) (ETHUSD,M1) array out of range in '59235-39542.mq5' (5305,49)

@l-andorrà Here is the link with the changes you specified:)

https://fxdreema.com/shared/hjd6U017b

If I install the EA on a chart and then create a position by any means, the EA is removed from the chart. What is causing that?

@l-andorrà Hello! I am excited to learn, I missed your response so sorry for the delay:)

I made the changes but I cannot get a pending order to trigger either manually or through another EA that I use which is just a trade manager (it enters the TP and SL at the same time as the entry). Here is the link for the change you specified, hope I did what you described:)

https://fxdreema.com/shared/DxVf16qic

@l-andorrà I appreciate ANY help, no worries if you cannot respond daily! Here is the link: https://fxdreema.com/shared/Uca51xeD

I'm sure there is more wrong than right in how I have approached the code thus far...but I use this everyday in my trading as it is. I load the EA, make my trade, it automatically loads my first pending order (1st hedge) and moves the SL of my 1st position to where it needs to be. Then I REMOVE the EA after the pending order is created. If I leave the EA on in the event of the hedge order triggering, the next pending order is incorrect because it creates a stop/limit order, moves the SL of the recent order etc.

Summary: The function of this code is correct for creating the 1st pending order/hedge position and in moving the SL for the opening position to the correct location. The size calculation is also correct.

Next Step/2nd Hedge:

1. When pending order from first step above is triggered (1st Hedge), TP of opening order needs to be moved to the SL level of the 1st Hedge/1st Pending order
2. A new pending buy/sell stop order needs to be created with Entry, TP and SL matching the adjusted/current levels of the opening position.
3. Lot size is calculated as follows: (2X First Hedge Lot Size) - (Opening Position Lot Size).

Last Step/3rd Hedge:

1. If the previous pending order (2nd Hedge) is triggered, a new pending buy/sell stop order needs to be created that matches the Entry, TP and SL from the position before last (1st Hedge in this case).
2. Lot Size is: 2XPrevious Hedge Lot Size

• This last step repeats in the relationship and lot size until price action breaks through either TP levels up or down

** Any pending order created by the EA needs to be cancelled if ALL positions close

@l-andorrà Oh...the FXDREEMA part is EXACTLY what I need help with! I already use the strategy and have successfully made the first part of the code but I cannot figure out what to do next:( Right now, I drag the EA onto the chart and then place my trade with SL/TP. The EA creates a pending order at the manual trade's SL in the correct size relative to the starting lot size. The EA moves the 1st SL to the TP level of the pending hedge. Then I have to remove the EA because the next steps are not complete IF the hedge triggers.

Here's where I get stuck:

• If the 1st pending order (hedge) triggers, I need the TP of the opening trade moved to the hedge's SL. I don't know how to use use the trigger of a specific pending order to modify the stops of the 1st Position. I was successful in modifying the SL the first time because there was only one open position.

• I also need a new pending order placed when the 1st hedge triggers. The levels are all the same of the 1st opened position.

• The math changes for lot sizes from the 1sf hedge to the 2nd, but thereafter it is the same.

• After the 1st and 2nd hedge is placed, my idea was to make some type of pending order loop based on whether the last order is a buy or sell. I thought a loop like that would handle the alternating aspect of the orders with the lot size being increased.

• The last step would be to cancel pending orders after all orders close (placed by hedge EA)

I apologize in advance for using incorrect terms, I'll work on that:)

Should I post or send what I have so far?

Thanks, Andrew

@l-andorrà Any input or feedback?