Originally Posted by rocky_841
Noob here. shorted her at 1.0053. My account has 193 AUD. traded at roughly 1 AUD per pip. Am I screwed guys?
If I have understood right, I won't be liquidated until AUDUSD crosses around 1.0247, which is a 193 pip loss. What are the chances of that happening guys? Do you guys think I should stop loss right now?
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IMHO, how you handle this should not depend on how much you have left in the account. When you enter trade, have a specific cut point, set it, and dont touch it.
THat way you have your powder dry for another go. I wouldnt argue with Mr MKT esp in thin vols in this holiday week. Anything can happen.
Whether your acc cuts you out at 1.0247 depends on your brokerage - mine has a margin requirement so that when one is wiped out by a fast moving market, they end up having some of your money to return. It is the regulation here that you dont end up owing them money. So I wouldnt even have been allowed to have just AUD 193 left in the account and an open trade.
For your case, using fractals, the PA could move to 1.03 - 04 before topping out but i am seeing some big retrace in EUR, GBP, CHF and JPY so you might just be in luck.
May the gods be with you.
Noob here. shorted her at 1.0053. My account has 193 AUD. traded at roughly 1 AUD per pip. Am I screwed guys?
If I have understood right, I won't be liquidated until AUDUSD crosses around 1.0247, which is a 193 pip loss. What are the chances of that happening guys? Do you guys think I should stop loss right now?
------
IMHO, how you handle this should not depend on how much you have left in the account. When you enter trade, have a specific cut point, set it, and dont touch it.
THat way you have your powder dry for another go. I wouldnt argue with Mr MKT esp in thin vols in this holiday week. Anything can happen.
Whether your acc cuts you out at 1.0247 depends on your brokerage - mine has a margin requirement so that when one is wiped out by a fast moving market, they end up having some of your money to return. It is the regulation here that you dont end up owing them money. So I wouldnt even have been allowed to have just AUD 193 left in the account and an open trade.
For your case, using fractals, the PA could move to 1.03 - 04 before topping out but i am seeing some big retrace in EUR, GBP, CHF and JPY so you might just be in luck.
May the gods be with you.
I have no enemy; I make Incautiousness my Enemy.
!
