Fundy guys like post may be screaming for shorts BUT they are shorting from higher up. Your entries could be a possible new support for price - even if price does go back down to the 1.13xx area, where would you intend to close? Are you intending to close it with mininal loss, say 1.1375 if it gets there, or would your psyche tell you to wait it out for you to exit at break even? And even then, if price dips below 1.135x, would you cut the trade then, or would you have a sudden 'epiphany' telling you to wait till the trade goes into profit?
I say this because in the past, I have had trades in similar massive drawdown. By some stroke of luck (and I say luck because my mind was too emotional to do a proper analysis, and I was literally praying to every deity who would hear me LOL) price retraced near my entry. I had the opportunity to get out with just less than 3 pips of loss, but something (greed) got into my head and I decided to hold it a bit more. Guess what happened next? Price bounced, I got hit by a margin call and blew the account.
Right now you're running on 60% margin left. I'm not sure what broker you're using, but have price go against you just a little more and your broker will likely start closing your open positions. Based off that, and the assumption that if you keep holding you will for one, be emotionally distraught, and for two more likely than not get a margin call, I would just close the trades and at least you'd still be left with half your initial balance.
What I would also do, is to leave that remaining 50% of your balance funds, take the night off and have a good rest. In the morning when you come back, DO NOT top up your account. Scale down your position sizes, maybe to the minimum of 0.01 lot. Work on getting this remaining 50% of your funds back up to the original amount you had before you tanked this loss. It may take days, weeks, maybe even months. But again, if we take the assumption that you'd get hit by a margin call you'd have lost that 50% remaining anyway. Use it as a 'training' fee. When you do get back do your initial balance, you can start thinking about scaling your lot sizes back up. But for now, 0.01 lots, proper risk management (instead of leaving losing trades wide open praying they'd retrace), and work on having that discipline become second nature to you. If anything, you lose a couple more cents from what you've already lost. But if you do pull what I suggested off which I'm confident you will (once you clear your head and regain a neutral POV of the market), it's only a win for you in the long run especially when you eventually do scale up on the lots.
You hesitate, you masturbate.
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