I have a question about turning losing tradings into breakeven trades
...Lets say I want to go long and instead of using a stop loss I use a hedge position (in this case a short position). If price hits my hedge position then my negative PNL would be the size between the long and short position.
Would not be possible with Just another long and short position (DCA) to achieve that long and short position have the same entry price? so the negative PNL would be O?
So you want to start two trades one goes up and one goes down, to maintain the loss well that's not something new but in this way if you wil be making a profit from one then you will make lose from another and the amazing thing is you can't open these two trades in Binance at least because I have seen if we will open the short position while the long position is already there, our trades will be closed. As first I was unaware and I mistakenly Closed the trade.
This can be done if we will have two different accounts of the same exchange on two different accounts Overall, the idea is great and if pulling it off is a risky but still it might worth it or might not.