Forex strategies revealed | FSR Forum

Hello, first of all just want to say thank you all for the information provided on this site, it's been very valuable over the last few months as I have been back testing several strategies.

My question is has anyone here developed a strategy that involves buying and selling the same currency at the same time? I just spoke to my broker about this and they mentioned that it was illegal in the U.S., but I could open up two separate linked accounts. I've developed a solid strategy that is almost ready to start going live. I just want to see if anyone else has tried this or includes this in existing strategies.

Thanks!

Jacob

Hi Jacob,

There were two strategies here on this forum:
Hedging strategy
Hedging strategy with 2 brokers using rollover-free account

Other than that we have no other strategies (on this forum or on our website so far) that would go Long and Short on the same currency.

Best regards,
Edward

hello all,

i recently discovered this website n have found alot of useful informations regarding fx trading..however,right now im quite desperate to seek answers to my problem..heres a brief story: i have been in this fx trading for a few months already n frankly been progressing quite good..unfortunately,just last friday i have opened 1 lot of BUY position on gbp/usd at: 1.6653 and another 1 lot at:1.6661..told by our trader that the gbp/usd forecast would be good as the trend was really going up at that time.But suddenly,the situation was totally devastating..the candlesticks rushing down non-stop and kept on going down continuously..i was shocked! so i decided to hedge it on both positions.So i took 2 open SELL positions, one at: 1.6395 and another at: 1.6334...right now all i can do is wait n one thing i am concerned about is to how to open the locking positions at the right time..how do i decide when it is a good time to open my lock without losing too much..issit possible for me to still gain profit from my locking positions? please help me!!! (heres the attachment of my trading chart screen shot for your easy viewing) your help will be greatly appreciated..thank you

paraguay3003 wrote:
unfortunately,just last friday i have opened 1 lot of BUY position on gbp/usd at: 1.6653 and another 1 lot at:1.6661..told by our trader that the gbp/usd forecast would be good as the trend was really going up at that time.

But suddenly,the situation was totally devastating..the candlesticks rushing down non-stop and kept on going down continuously..i was shocked!

You opened 2 separate contracts on the Pound ahead of one of the most important data releases of the month?

How come your stop loss exits didn’t take you out when the pound sold off?
Where did you place them?

actually my sis n i joined this account together...and that morning my trader gave my sis a WRONG info...he gave us the news on eur/usd NOT on gbp/usd!!my sis actually received the news so i didnt know about it...she only told me that the gbp/usd forecast was good so i believed her (not knowing what the trader said) so we opened two accounts separately...we never set Stop Loss positions thats why! right now,im wondering how do i get the lock positions off and what is the best way to open the locking without losing too much?? issit necessary to inject money in order to save my account? thank u...

paraguay3003 wrote:..and that morning my trader gave my sis a WRONG info...he gave us the news on eur/usd NOT on gbp/usd!!

... we never set Stop Loss positions thats why!

Why don’t you ask your trader to get you out of the mess then? if he mis-informed you, then it should be him who either refunds your heavy loss or at least advises you on your next move.

If you can’t take any more heat on your large losses from the unprotected longs, then you’re going to have to take the bitter pill, cut them & regroup.

Maybe next time you’ll give a little more consideration & respect to your risk exposure & double check that your information is correct before leaping in blindly.

yeah..its lesson learned i guess

Sorry, but sometimes it's better to look at your Coping to Money- & Risc-Management.

Kindest Regards