Forex trading method on BUY and SELL probability
hi trader i want to try a new method by buy and sell a one pair of currency at same time so i can minimize my loss at some point and close the non-profit one. what your thought. i try correlation method but the trend is alway a un-expected thing. please suggest.
Originally posted by rohanmane3hi trader i want to try a new method by buy and sell a one pair of currency at same time so i can minimize my loss at some point and close the non-profit one. what your thought. i try correlation method but the trend is alway a un-expected thing. please suggest.
You r trying hedging. But you should know that u r paying double the spread cost. Moreover if u r entering into a trade with put and call at the same time, it is hard for u to be profitable unless u know about trend.
Usually hedging is done when u try to offset a part of ur loss or secure ur profit. The method u r saying is unlikely to work.
Originally posted by rohanmane3hi trader i want to try a new method by buy and sell a one pair of currency at same time so i can minimize my loss at some point and close the non-profit one. what your thought. i try correlation method but the trend is alway a un-expected thing. please suggest.
Very old question but this is not gonna work. You can try it on a demo account. Maybe u get lucky :)
The good or ill of a man lies within his own will. – Epictetus
Originally posted by rohanmane3hi trader i want to try a new method by buy and sell a one pair of currency at same time so i can minimize my loss at some point and close the non-profit one. what your thought. i try correlation method but the trend is alway a un-expected thing. please suggest.
Why dun u try another method.
You will have in mind that if a pair is going to move n number of pips in a specific direction u will open a trade in that direction. It is similar to ur strategy but less risky and more chances of working.
For example current price of an asset is $100 and u r thinking to open two trades (one put and one call). You r thinking that if price reaches at $90, u will close "call" trade in a hope that it will keep moving downwards and ur "put" trade will be profitable.
Instead of all this, u can set 2 orders. Put if price reaches 90 and call if price reaches 110. It is exactly same what u want except u dun have to pay double spreads and dun have to keep watching the market (if u also set TP).
Originally posted by Sasha
Originally posted by rohanmane3
hi trader i want to try a new method by buy and sell a one pair of currency at same time so i can minimize my loss at some point and close the non-profit one. what your thought. i try correlation method but the trend is alway a un-expected thing. please suggest.
Why dun u try another method.
You will have in mind that if a pair is going to move n number of pips in a specific direction u will open a trade in that direction. It is similar to ur strategy but less risky and more chances of working.
For example current price of an asset is $100 and u r thinking to open two trades (one put and one call). You r thinking that if price reaches at $90, u will close "call" trade in a hope that it will keep moving downwards and ur "put" trade will be profitable.
Instead of all this, u can set 2 orders. Put if price reaches 90 and call if price reaches 110. It is exactly same what u want except u dun have to pay double spreads and dun have to keep watching the market (if u also set TP).
Correct. Instead of going for 2 trades, u can set targets. If a price reaches a specific target, open trade in that direction. You r actually trying to trade in the direction of the trend. So do it by setting targets.
Originally posted by rohanmane3hi trader i want to try a new method by buy and sell a one pair of currency at same time so i can minimize my loss at some point and close the non-profit one. what your thought. i try correlation method but the trend is alway a un-expected thing. please suggest.
How do u use correlation is ur trading?
Some traders try hedging + correlation. Some try only correlation. I am in support of hedging + correlation which limits ur losses.
Originally posted by rohanmane3hi trader i want to try a new method by buy and sell a one pair of currency at same time so i can minimize my loss at some point and close the non-profit one. what your thought. i try correlation method but the trend is alway a un-expected thing. please suggest.
You r trying to gamble and hopping for win. Probability of success is same as in case of a coin toss or maybe less.
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It’s a sort of method that can be working well, but only if we practice out and put in the system right then we will be able to gain plenty. I do it quite nicely and easily which comes through help of OctaFX who are awesome by every term. They are regulated by FCA and have superb conditions with lowest possible spreads at 0.1 pips for all major pairs, 70 instruments, rebate program where we get 50% back on all trades even if it’s lost.