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flinux wrote:I do not like the stop-loss, I prefer open orders limits the opposite direction.
I advise you not to use stoploss, try instead to use limit orders in the opposite direction (hedging), to the level where you would set the stoploss.
Hello , can I ask you how to use hedging instead of SL?
I Buy 1 minilot (1,000 units) EURUSD at 1.20 ( SL 1.1980, TP 1.2040)
Normally if price goes against me I would be stopped out at 1.1980 lossing 20 USD.
If just after stopping me out price rebounds and goes to the original target, I'm left cold in water (unless I use one of those tricks from MO opening again a long position midway between my original entry price and SL).
How is your hedging strategy in this example?
I assume you'll open a short position at 1.1980 to hedge the original trade.
If price keeps going down, what will you do? And when price rebounds? ?