Shane I been using hedging vs stoploss.
For example, I enter a trade and see that price is not headed the same way anymore. The current candle or next candle starts to turn a different color. I wait till another candle shows the same opposite color. The instant I see that second candle with opposite color I place a hedge.
Next I wait... I wait to SEE which way price is going to react. I go to a higher TimeFrame and SEE if PRICE is about to push thru another horizontal line or if it will push thru the highest or lowest point of the last 2 or 3 candles (where I made the entry and hedge). Then I place a 3rd entry in the new direction PRICE is taking. Once I reach + overall pips I CLOSE all entries.
I doesn't happen often but when it does this is the procedure I use to get out of a jam.
Now this is the funny part. I've noticed this recently. The instant I enter a trade with a pair all of a sudden the spread increases. Damn spread bandits.... I believe I know exactly what they are doing. Since I don't show a stop loss, their program is geared to make me think about exiting a trade. I think this is the case. So I decided, HEC NO! This ain't happening on my trades.. I will hedge my way out even if it takes hours LOL.
So far I been OK. But the more I practice the hedging technique the better I get at hedging out an overall win. After all in the end PRICE is PRICE it will go up or it will go down, no matter what a spread bandit does.
Shane wrote:I understand.
Thank you for the reply