I just hedged my long with a TP 1310 on the short side.
Friday, September 15, 2017
15 comments:
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What is your hedging entry Cesar? And can you explain the reasons why..
ReplyDeleteI´m long @1346 since last week and I had a hedge on that long @1336 which was close yesterday (the short) on the dip to 1315. Since the rally above 1336 did not materialize yesterday I said in one my posts that I would stay long if the price stayed above 1320. Well it is going to drop below 1320 in my view and 1310 is the last support from where price can bounce to close above 1317. A daily close below 1310 is very bearish. That´s is why I´m protecting my long position with a hedge and 1310 is the last support level available to believe on a rebound to 1346. Even it it closes below 1310 there could be a rally to 1346 but it will be sold, then I will close my long in the rally and stay short, mi final strategy will be based on the daily close today.
DeleteI thought you're gonna go short in 1313..
ReplyDeleteDylan markets are dynamic, we need to constantly adjust on the move and to the changing conditions, 1313 was the level analyzed for yesterday´s scenario, today we have a situation that has developed under new market sentiment reactions.
Deleteit is easier said that written but tell me what part of the post is confusing and I will clarify accordingly.
ReplyDeleteGot it, mr. Cesar. Thank you so much for you analysist. And thanks for making time for answering my questions. You've helped many of us. Keep it updated 🙏🏻🙏🏻
ReplyDeleteNo problem, it is always a pleasure.
DeleteI have sold @1324 hoping it will drop below 1320. After the US data the price went up... Wondering I should close it before weekend. What is your suggestion?
ReplyDeleteMei, we had a lesson learned with the gap from 1346 down to 1332 where many of us were caught off guard. I would highly recommend that on these high volatility scenarios positions go protected onto the weekend whether using tight SL orders, hedging of just by booking profits, if any.
ReplyDeleteUnderstood. My weak point is that I always make slow decisions when it comes to SL. When I did it, it was too late. I will set tight SL this time. Appreciate your tip.
ReplyDeleteWe all have this weak points mainly because wishful thinking lead us to believe that the market will always come back in our favor, that´s why some traders are successful being contrarian, which means when everybody else is buying they sell and viceversa, just a different strategy.
DeleteWish to be like that. Need to train myself mentally to look at the fact and not to hold on to my own wish. Still a lot of things to learn....
Deleteits like fishing :)
ReplyDeleteYes, it is. It is like standing on the way of a falling knife. It is a gamble for the brave only !!
ReplyDeletesir cesato, i think most mid trader got trapped because 1.filling the gap 2.NK 3.Indian festival season and many more
Deletejust like my previous post, its going to be bearish for the whole month was my initial goal and i fail to follow my strategy mainly because i read too much good news about gold and was a bit reluctant.