Software Used to Trade Jack Hershey Methods

Does you broker and Globex allow opposite positions in the same account? I don't know about this, but you may need to use two accounts.

 

why do this instead of close your position and then take the new position when you feel it is confirmed? The net effect is the same.

The best strategy IMO, is to reverse asap (as close as possible to the bar extreme) so you are in a better position to wash if wrong. There has been much written about this.

 

It's so that when I notice that I made a mistake on the reversal I can then wash without having to reverse again. I could ofcourse do exits, but I would like to see how my results are with this method.

I think it matters, psychologicaly, to know that you already have an entry on a good point and you can remove the hedge to make that position effective again.

 

You would need 2 accounts. The system always thinking that you cutting your original position when you take opposite positions. Just create 2 accounts and have 2 DOMs for execution.

 

Then I guess the "hedging" will have the some effect as "exit and enter", it's not SCT anymore.

 

Thanks for the replies. I'm going to contact my broker to see what my options are.

What I have in mind does not differ too much from seamingly continuous trading. I would hedge out exposure when I see an FTT intrabar and remove the hedge towards the close of the bar if volume and price did what I expected. The net effect is the same as exit/entry but I suspect hedging will make a psychological difference. Atleast that's what I want to test.

It's also an issue when a Hershey trader wants to place opposing trades on different resolution levels. Like when a trader wants to do a quick scalp on a HVS on the tree level while holding his position on the forest level. Because change on one level means continuation on another level. I can see why someone would want to trade like that.

 

I guess just place your trades as you want and don't look at your account position.

You'll think that you have a +x and a -y position, and you won't care that your account shows an x-y position.

What you want to do is not hedging.

 

Does anyone use Bloomberg to trade Jack's equities and futures method?

 

Just curious why bloomberg? Aren't they one of the most expensive? Unless you already have it for news trading?

 

What datafeed are you using?

Thanks,

Stepan