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Best way to flip from Long to Short?
Mar 24, 2019 at 08:28
923 व्यू
8 Replies
तबसे मेंबर है Oct 29, 2017
10 पोस्टों
Mar 24, 2019 at 08:28
Here is an example of what I am trying to do
Lets say I am long 5 micro lots (5,000) on AUD/USD from .7045 and it has gone up to .7150 I want to flip short but I do not want to flip short unless it hits .7145 and I want to put 5 1/2 micro lots on (5,500)
Do I simply put a stop/loss for 10 1/2 micro lots (10,500) so when it hits, my 5,500 short trade is placed?
Thanks for the help
Lets say I am long 5 micro lots (5,000) on AUD/USD from .7045 and it has gone up to .7150 I want to flip short but I do not want to flip short unless it hits .7145 and I want to put 5 1/2 micro lots on (5,500)
Do I simply put a stop/loss for 10 1/2 micro lots (10,500) so when it hits, my 5,500 short trade is placed?
Thanks for the help
तबसे मेंबर है Apr 03, 2019
10 पोस्टों
Apr 03, 2019 at 10:03
Use a new Sell limit order AND a stop loss. The stop loss will close the Buy trade and the Sell Limit will open a new Sell trade
तबसे मेंबर है Mar 11, 2019
6 पोस्टों
Apr 04, 2019 at 06:02
Why not hedge it? :D
तबसे मेंबर है Jan 05, 2016
1097 पोस्टों
Jun 02, 2019 at 03:51
(एडिट हो रहा है Jun 02, 2019 at 03:58)
Redwingfan posted:
Here is an example of what I am trying to do
Lets say I am long 5 micro lots (5,000) on AUD/USD from .7045 and it has gone up to .7150 I want to flip short but I do not want to flip short unless it hits .7145 and I want to put 5 1/2 micro lots on (5,500)
Do I simply put a stop/loss for 10 1/2 micro lots (10,500) so when it hits, my 5,500 short trade is placed?
This would be simple to automate.
Just think of the exact steps you would do to complete the task manually.
Write those steps down, and then create a function that does exactly those steps.
It's basically, close the LONG AUD/USD 0.05 ticket when the ASK price falls to .7145,
then immediately open the SHORT AUD/USD 0.06, or wait until the BID price hits it and then trigger it.
It's up to you how you want to handle it.
This is trivial with a simple EA or other trading bot.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
तबसे मेंबर है Jan 05, 2016
1097 पोस्टों
Jun 02, 2019 at 04:00
(एडिट हो रहा है Jun 02, 2019 at 04:00)
PPPStrategy posted:
Why not hedge it? :D
Because hedging isn't permitted in the US where the original poster is located.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
forex_trader_436974
तबसे मेंबर है Jun 13, 2017
51 पोस्टों
Jun 04, 2019 at 21:38
Professional4X posted:PPPStrategy posted:
Why not hedge it? :D
Because hedging isn't permitted in the US where the original poster is located.
C'mon Trump! If you're going to get rid of regulations, get rid of that one!
तबसे मेंबर है May 28, 2019
9 पोस्टों
Jun 07, 2019 at 10:12
Use a strategy that doesn't require you to flip from short to long and vice versa
forex_trader_436974
तबसे मेंबर है Jun 13, 2017
51 पोस्टों
Jun 08, 2019 at 02:14
MaximePips posted:
Use a strategy that doesn't require you to flip from short to long and vice versa
So when the market is going the wrong direction, you just sit and watch? Not a very good strategy in my opinion.
तबसे मेंबर है Jan 05, 2016
1097 पोस्टों
Jun 10, 2019 at 01:46
ForexScreamer posted:MaximePips posted:
Use a strategy that doesn't require you to flip from short to long and vice versa
So when the market is going the wrong direction, you just sit and watch? Not a very good strategy in my opinion.
It could also be a situation where a trader opened a LONG ticket and then realized it should have been SHORT but they hit the wrong hot key by accident, and they need to reverse the trade real quick.
Small scripts like that are extremely useful to have in the trading toolbox.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
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