Alan Solarsh explains his hedging strategy for forex trading: when a trade goes against you, open the opposite position instead of closing at a loss. One side eventually turns profitable, letting you close both trades in the black.
If the price goes against you guys, I don't know if you know this, but you can hedge your trade. Instead of closing your trade in a loss, why don't you just place a sell trade to balance your account and stop the hemorrhaging on your account? When you close a trade, you've lost the money if you hedge your trade. So you place a buy trade and the trade goes against you. Instead of closing the buy trade, place a hedge trade. A sell trade. One of your trades is going to go into blue, and then when the price goes up again and gets to that level, you'll then close out your trade in blue and you'll make profit when you go south and when you go north. So that's what I do. As I said, I'm a hedge trader.
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Double bottom forming - Gold ready for $4000 #trading #technicalanalysis #xauusd
