Best way to flip from Long to Short?

Mar 24, 2019 at 08:28
664 Zobrazení
8 Replies
Členom od Oct 29, 2017   10 príspevkov
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
Členom od Apr 03, 2019   11 príspevkov
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
Členom od Mar 11, 2019   6 príspevkov
Apr 04, 2019 at 06:02
Why not hedge it? :D
Členom od Jan 05, 2016   1189 príspevkov
Jun 02, 2019 at 03:51 (upravené 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.
Členom od Jan 05, 2016   1189 príspevkov
Jun 02, 2019 at 04:00 (upravené 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.
ForexScreamer
forex_trader_436974
Členom od Jun 13, 2017   49 príspevkov
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!
Členom od May 28, 2019   9 príspevkov
Jun 07, 2019 at 10:12
Use a strategy that doesn't require you to flip from short to long and vice versa
ForexScreamer
forex_trader_436974
Členom od Jun 13, 2017   49 príspevkov
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.
Členom od Jan 05, 2016   1189 príspevkov
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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