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Best way to flip from Long to Short?

Biff (Redwingfan)
Mar 24 2019 at 08:28
10 комментариев
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
You cannot have out of the ordinary returns by trying ordinary things. Do you think Goldman Sachs uses the same indicators you use?
Wreeves
Apr 03 2019 at 10:03
11 комментариев
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
PPPStrategy
Apr 04 2019 at 06:02
6 комментариев
Professional4X
Jun 02 2019 at 03:51
1189 комментариев
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.
Professional4X
Jun 02 2019 at 04:00
1189 комментариев
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.
Pentz Consulting
ForexScreamer
Jun 04 2019 at 21:38
49 комментариев
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!
MaximePips
Jun 07 2019 at 10:12
9 комментариев
Use a strategy that doesn't require you to flip from short to long and vice versa
Pentz Consulting
ForexScreamer
Jun 08 2019 at 02:14
49 комментариев
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.
Professional4X
Jun 10 2019 at 01:46
1189 комментариев
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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