General Trading Chat / Ideas

I thought it might get to 106.60 area

we have the hs daily
now lets look monthly for direction

Also sold off at 200sma daily other day that’s the only moving average on my chart

Hey if what your doing is working follow you system. just thoughts on longs bud nothing more

I understand I thought breaking 108.25 would send it below 107.50 maybe going to 108.75 area 61.8 H4

AU NU look like shorts

Hello everyone.

As this is a fresh account, I can't create any tread, so I apologize for barging into this one with an irrelevant topic.
I hope someone can give this a read and an honest reply as I really don't have any clue to who I can talk about this.

I'm a 23 y old who was fortunate to have a mother save up some cash over the past years to get me started once I finished university with a balance of 5000EUR. I worked for about a year, spend money, save money. At the end of the year, getting me around 12.000EUR. I got into forex after an advert that I read about a brokerage that has high swaps but freely helps you manage your account and helps you make trades.

I put in 200EUR, and fairly quickly I started to see it grow by 10EUR per trade. The hype was on, and my broker suggested me to move to 1000. I listened and I dumped another 1000 on it (because I would receive an amazing 1000EUR credit on MT4) putting my balance at 2500 something. Now the trades were going up by 100 and I was on Cloud 9... Not so long after that, my broker came with an amazing Idea "THE RISK FREE TRADE DOCUMENT" I was very suspicious at first. But in the end I followed him because I didnt really have a reason not to so far. "Put in 3000 and withdraw within 2 weeks and we cover any losses". So I did it. I know have an account with 4500EUR of my money in.

So far, every trade, that this man made on my account, turned positive. But for one main reason, he doesnt use stop loss.
Fast forward to the end of the contract. I still have an open position. Its pretty bad, -8000EUR in BTC. But some excuse is made up and apparantly he made a mistake causing the contract to be invalid. So far my account is on +20000EUR so it would suck to lose it. Confident as he is that BTC will go back up we leave it sitting there. More trades go by, and slowly we start indeed recovering the -8000.

Fastforward
The attack on OIL reserves drives USOIL up immensly, my broker buys a big lot and in 1 trade we make 15.000EUR profit. Im shaking. Dont know what to do. I asked multiple times by now to withdraw some money to my bankaccount. But due to open trades (the -8000) the financial department refuses.

Fastforward we open a trade on sell on NAS100. The trade goes into buy direction. 1K loss, 2K loss, 5k loss, 10K loss, 20K loss (as my account is still positive, he holds on to the point that it would be a shame to throw away all the money by closing the trade, which we worked for so hard, so we leave it open.

... 40.000 loss, and my account is officially in negative margin, big panic from my broker HE NEEDS MONEY, A NEW DEPOSIT, AT LEAST 5K AND I RECEIVE 10K CREDIT he says. Scared as I am, and still convinced that he really knows his trades I follow him. From my 12K initially in my bank, I have now 9000+ in two accounts, because that way ( he says) im always able to withdraw. ( the 10K credit has been provided do account 1 to keep it in positive margin)

- Account 1: balance 40.000 credit: 20.000 open trades: -55.000
- Account 2: balance 5.000 - -

Fastforward to last friday. Another trade goes south and to save everything he wanted to do exactly the same. Again I listened, as he told me I can "withdraw this whenever I want and need to pay bills this or next week" I cough up my last 3,500EUR I saved up extra until now.

I have 900 left in my account on the bank. Its now monday, I need to pay bills this week, the trade position that went bad actually recovered and broke even with swap, and STILL he asked me to wait once more to withdraw the 3.500EUR until tomorrow morning.

- Account 1: balance 40.000 credit: 29.000 open trades: -55.000
- Account 2: balance 8500 - -

The last months were extatic, but especially very depressing the last weeks. Im starting to feel incredibly ashamed "did I fall for a sleek salesman?". "What will my girlfriend say about this?" "Can the situation still be saved?" "Can I actually withdraw from my second account?" "What if my account goes negative now?"

Experts, should I just close each and every open trade, take the 5000+EUR loss and recover the other 8000EUR? I really dont know if my mental can take these fake promises any longer, in the hope that it recovers. The thing that haunts me the most is explaining to my mrs. She knows about the initial 4.500. Not the other 8000.

Thank you some much for your time.

[quote=TooAshamed;12598389]Hello everyone. As this is a fresh account, I can't create any tread, so I apologize for barging into this one with an irrelevant topic. I hope someone can give this a read and an honest reply as I really don't have any clue to who I can talk about this. I'm a 23 y old who was fortunate to have a

too many questions to ask mate! Sounds like how Tradefred operates over here in the uk! but at least they let u withdraw (after about 100 emails and the broker signing it off after 400 calls to ask u to keep it in! )
what country r u in?
who is the broker?
are they regulated?

if i was u, i would cut everything, withdraw ur funds and take the loss on the chin. At least u still have the 8k left. Trusting these “salesmen” with ur cash and not using stops etc and if u dont have a lot of knowledge urself then ur easy pickings for them. Ive been there mate - broker promising everything, few decent winners, never a stop loss, then wham, one of the trades goes proper pete tong.....and u lose it all and more. And don’t beleive that crap about matching deposits etc....its always ur money that goes first, and then u obviosily cant withdraw there money - its pointless apart from encouraging u to trade bigger sizes that u can actually manage and to take on way more DD than u should. Just have to take it as ur first (painful) lesson in forex trading im afraid!

Too many questions to ask mate! Sounds like how Tradefred operates over here in the uk! but at least they let u withdraw (after about 100 emails and the broker signing it off after 400 calls to ask u to keep it in! ) what country r u in? who is the broker? are they regulated? if i was u, i would cut everything, withdraw ur funds and take the loss on the chin. At least u still have the 8k left.

Im from Belgium.
The broker is StockGlobal, also located in the UK I believe.

just home
yes that could happen also mate

sorry to hear... dust yourself off and dont make the same mistake twice.

It’s not looking good

just looking if you stops above the daily 200 then it still has a chance

It is above it.

price is under the daily 200sma im not saying it will hold but it can be dynamic SR some times

I probably should have closed once it got above 108.30 but I’ve added some on way up. Buy signal on H4 and sell signal on daily so I went with daily

Maybe AUDUSD goes up news later

for a start name the company name the person who told you you cant withdraw on here so we can all see that is first , second i have no sympathy for you at all others will have , greed is a large component with out learning and with out doing your research the net is wide and open for all to see , after the first promise you should have been alarmed but again your greed was your only concern i have been hard writing this , if you allow someone to control your money they all so control you , i have a box of tissues for you now get and stand on your own two feet and learn your moneys gone ,

Yes, you did.

That broker giving you a bonus and trading for you, sounds unregulated, so even if you want to withdraw, you cannot.

Sorry to say but it's most likely that your money is gone. do not deposit any more.

Try to make a withdraw if you can, but don't get your hopes up.

Broker based in Ajeltake Island, Majuro, Republic of Marshall Islands

Money = gone