Thread: Hedge Trade-panel

I know, I know... we've all said it before, hedging is*** stupid because it costs you twice in fees, right?

Well that's actually not (always) true. There is a neat little hidden jewel in MT that's almost completely undocumented and nearly never used by developers (actually) that's called OrderCloseBy. What this function does is takes hedged orders and reconciles the trades as netted. This allows you to do some awesome things we'll talk about in a moment, but for now it is important to understand that in case you use this method you are not charged double fees since you are instructing the broker machine to reconcile the hedge as a netting trade.

eg. Buy 1 lot to start and market 1 lot to close. Profit = spread of market price - buy price. Net commission = 1 lot (not two). Net Profit = Profit - commission.

So why is this important? It's about risk management. Let's say you have 20 open positions and you would like to close them down instantly. How can you do it?

Option 1: Close them one by one whilst crying into your computer keyboard as your profits will be slipping away from waiting for every order to close and confirm....and on....and on....

Option 2: You send in a hedge. Wait until calm markets. Close both and get charged fees.

Option 3: You send in a hedge. Close when you damn-well please by instructing the server to reconcile both trades and only get billed.

What about reversing positions? Even if you're reversing one order which you still have to close one....wait for confirmation....open another. In the mean-time a second could have passed and slippage accrued in the procedure. Reversing with hedging is instantaneous once you ship an order in that's net_position * two in the contrary direction. Then of course you use OrderCloseBy to reconcile the orders as partly closed - busting you nothing at the procedure.

Here's a proof of concept trade panel I created. It is not the most pretty panel out there, but it's the quickest!
IMPORTANT: This won't work with brokers that don't support hedging accounts.
Characteristics:One-click trading Establish TP and SL by points Add or subtract incremental positions at will to handle overall internet exposure Reverse internet position instantly Close web position instantly order management to Panel orders simply so that you won't interfere with different orders (such as alt EA orders) Order Maintenance button to reconcile trade in your program so it won't slow down fast scalping in a fast market Status in window. Contains action status that is last with order latency and slippage reporting as well as the net position. Proceed window anywhere on screen for convenience Attachment 2491994

https://www.forexforum.co.za/attachm...1831139457.ex4

Originally Posted by ;

quote Have always had the most respect for your donation to FF, so I am not positive if it's really wise to post a opposite view! quote Or do you? Let's say a pullback was hedged and pullback transferred to 100 pips from the entrance, when unhedged. (The very first entry being a trade the hedger still has open, and you shut in the time of the hedge.) Now let us say the first trade was created using a S/L which made feel to the trader and cost 35 pips, and the commerce represented a risk of 2%. To start a single buy or sell in the time of the unhedging...

With respect, in your example the hedger includes a net-zero-position, he had been risk-off while another trader was risk-on. It is apples and oranges. If you needed an equal comparison you'd say trader A includes a position and can be market neutral while trader B is about the side-lines and is market neutral. Trader A finds his Dollar to go at n-pips in precisely the time trader B extends. Trader B has more account equity because trader A had to pay for two commissions.

1 Attachment(s) Getting creative with limit orders:

Now we could set limit orders to take partial profits and reverse orders without accruing extra costs. (swaps are net so be sure to use the order upkeep before rollover!)

https://www.forexforum.co.za/trading...-scalping.html

This is a great EA! It is the manual trader would ever need!

However, they won't understand what you gave them, I guess...

You have been around here for over 12 decades. I really do wonder, why are you throwing pearls?

Thanks for that Nich, Ordercloseby is new to me, will take a look, good job.
Pip

Originally Posted by ;

Ordercloseby is new to me, will take a look, very good job.

Order close by is at mt4 for several years already. Currently professionally exhibited by mr.Nich!

I wonder, exactly what exactly the anti-hedge gurus will have to say today? By hedging, one can ch a management, which is quite hard to ch with one dir trades only. And pay 1 commission meanwhile?!? LOL!

I wonder what happens today with their stupid theory that hedging just increases the costs?!?

Is it these false gurus to be an absolute ignorants?

And you guys hear then and follow along with?!? Someone here is deadly stupid... Is it entire majority here?!? I think, YES! :--RRB-) hahahahhaha!!! :--RRB-)))?

Https://docs.mql4.com/trading/ordercloseby

ordercloseby is/are using ticket(s).
Not my favorable method in OrderSelect (instead or magic number).
For an obvious reason, tickets can be vary by broker, but not magic number.
Btw, it#8217;s a great stuff!

Originally Posted by ;

quote Order near by is at mt4 for several decades already. Now professionally presented by mr.Nich! I wonder, what exactly the gurus will need to say today? By hedging, a management, which is quite difficult to grab with one dir trades just can be caught by one. And cover only 1 commission LOL! I wonder what happens with their dumb theory that hedging increases the expenses?!? Can it be these fictitious gurus to be an ignorants? And you guys hear afterward and follow along with?!? Someone here is deadly stupid... Is it entire majority...

I like your style

Originally Posted by ;

quote Order close by is in mt4 for many years already. Now professionally exhibited by mr.Nich! I wonder, what the anti-hedge gurus might need to say? By hedging, an individual can ch a management, which is quite difficult to ch with one dir trades. And cover only one commission meanwhile?!? LOL! I wonder what happens now with their theory that the costs ?!? increases Can it be these false gurus to be an ignorants? And you guys follow along with ?!? and hear afterward Someone here is mortal stupid... Can it be entire majority...

dont say it to loud. This merging was there all the time. Even hedging is in all best case at maximal same like not hedging, can never be improved, but in many cases is more expansive. Its really simple by mathematics cant struggle against 100% certain math.

Hedging increase the costs and in best case its at max same (when you've never hedged orders over rollover point and always merge all orders). Point. Rest accept that they cover more or did not understand mathematics, thats the outcome . Accepting to cover more then other by not understanding it better is ok, but dont tell its not true, theres a debate thats not possible to defend and this will being misled by by people.

Originally Posted by ;

quoteeven then hedging is at all ideal case at maximal same like not hedging, may not be better, but in most cases is far more expansive.

OK, today we see hedging is NOT more expensive than non-hedging. That is fantastic step 1! Non-hedgers defeated. I like that!

Lets concentrate on just how hedging CAN BE USEFUL. Why don't you in ching the direction in case that WOULD HELP, use two transactions instead of one? Paying the very same fees, as one would happen to be trading with only 1 trade, helps obviously.

Simply put, an individual can hedge any degree and with appropriate flipping techniques to make money from 30 SL and 30 TP, or 300 SL and 300 TP, whatever. This is very much achievable and it does involve a procedure called... THINKING!

I have attempted to help people curious, but they're lazy and when the time came to attempt and find it out on their own, under my supervision, they simply run away... Which shows to me that the mindset of the readers. Most, if not all, will stay losers in trading until the day of the lives. I think they deserve it...