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  • #630,161
  • Apr 21, 2012 7:21am Apr 21, 2012 7:21am
Hi everyone,
I am stuck on a hedge position at eurusd as forced by a margin call. Guess my view is that the eur could rise a bit more (maybe 1.33700?) and then hopefully fall. Mi idea is , if that happens, close the buy orders (at 1.32200) and then leave the sells opened in the hope of a sharp fall. Attached enclosed my screen shot. any ideas on how to manage this mess are really, really appreciated.
thanks to all in advance
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement 2.gif Size: 89 KB
  • #630,162
  • Apr 21, 2012 7:22am Apr 21, 2012 7:22am
Just a mistake, I meant close the buy orders at 1.32700
  • #630,163
  • Apr 21, 2012 7:31am Apr 21, 2012 7:31am
Quoting daecpa
Hi everyone,
I am stuck on a hedge position at eurusd as forced by a margin call. Guess my view is that the eur could rise a bit more (maybe 1.33700?) and then hopefully fall. Mi idea is , if that happens, close the buy orders (at 1.32200) and then leave the sells opened in the hope of a sharp fall. Attached enclosed my screen shot. any ideas on how to manage this mess are really, really appreciated.
thanks to all in advance
lol dude, let me take a look
When life gives you lemons, make lemonade
  • #630,164
  • Apr 21, 2012 7:36am Apr 21, 2012 7:36am
Quoting daecpa
Hi everyone,
I am stuck on a hedge position at eurusd as forced by a margin call. Guess my view is that the eur could rise a bit more (maybe 1.33700?) and then hopefully fall. Mi idea is , if that happens, close the buy orders (at 1.32200) and then leave the sells opened in the hope of a sharp fall. Attached enclosed my screen shot. any ideas on how to manage this mess are really, really appreciated.
thanks to all in advance
Wow ya bit of a pickle theres no real good answer and what i would do in this situation would be to start closing your biggest short position maybe 1 short a day that way if the price goes up you are lessening your loss if the price goes down then you are still short. I know theres going to be alot of members posting this is the wrong thing to do and to just close all positions and start again which is probably your safest option. So thats two options im not saying either of them are right or wrong they are just options, im afraid the final decision lays in your feet. Hope this has helped good luck
  • #630,165
  • Apr 21, 2012 7:41am Apr 21, 2012 7:41am
Quoting daecpa
Hi everyone,
I am stuck on a hedge position at eurusd as forced by a margin call. Guess my view is that the eur could rise a bit more (maybe 1.33700?) and then hopefully fall. Mi idea is , if that happens, close the buy orders (at 1.32200) and then leave the sells opened in the hope of a sharp fall. Attached enclosed my screen shot. any ideas on how to manage this mess are really, really appreciated.
thanks to all in advance
hi daecpa,

it looks ugly indeed, from the way i look at it you have three options:

1. close all the buy orders at 1.3228 and hope that the price will retrace from there and take it step by step if it retraces

2. leave all the orders as they stand now until reaching 1.3377, at that price close all the buys and hope that it will retrace

3. close everything now and work from what is left in your account

if i were you in this position after getting really drunk in the past weeks, i would go with option 1. then if i see other valid buy signals i buy to have some balance between the shorts and longs. but from now on you really need to take the right choices otherwise it will be worse.

you decide on how to proceed and you take the loss/win of the decision. i can tell u when and what to buy if i was online...
When life gives you lemons, make lemonade
  • #630,166
  • Apr 21, 2012 7:46am Apr 21, 2012 7:46am
Quoting daecpa
Hi everyone,
I am stuck on a hedge position at eurusd as forced by a margin call. Guess my view is that the eur could rise a bit more (maybe 1.33700?) and then hopefully fall. Mi idea is , if that happens, close the buy orders (at 1.32200) and then leave the sells opened in the hope of a sharp fall. Attached enclosed my screen shot. any ideas on how to manage this mess are really, really appreciated.
thanks to all in advance
Please edit your post and blur out your account details.
  • #630,167
  • Apr 21, 2012 7:50am Apr 21, 2012 7:50am
Quoting TradeCell
Please edit your post and blur out your account details.
Good call
  • #630,168
  • Apr 21, 2012 7:53am Apr 21, 2012 7:53am
Quoting daecpa
Hi everyone,
I am stuck on a hedge position at eurusd as forced by a margin call. Guess my view is that the eur could rise a bit more (maybe 1.33700?) and then hopefully fall. Mi idea is , if that happens, close the buy orders (at 1.32200) and then leave the sells opened in the hope of a sharp fall. Attached enclosed my screen shot. any ideas on how to manage this mess are really, really appreciated.
thanks to all in advance
Cut the loss and start fresh. Use sl next time. That will solve the problem.
  • #630,169
  • Apr 21, 2012 7:56am Apr 21, 2012 7:56am
Quoting pkimnyc
Cut the loss and start fresh. Use sl next time. That will solve the problem.
ah...absolutely agreed
If there was easy money lying around,no one would be forcing it into your
  • #630,170
  • Apr 21, 2012 7:56am Apr 21, 2012 7:56am
Anyone heard rumor that ECB might drop interest rate.
Over thinking over analyzing separates the body from the mind.
  • #630,171
  • Apr 21, 2012 8:00am Apr 21, 2012 8:00am
Quoting daecpa
Hi everyone,
I am stuck on a hedge position at eurusd as forced by a margin call. Guess my view is that the eur could rise a bit more (maybe 1.33700?) and then hopefully fall. Mi idea is , if that happens, close the buy orders (at 1.32200) and then leave the sells opened in the hope of a sharp fall. Attached enclosed my screen shot. any ideas on how to manage this mess are really, really appreciated.
thanks to all in advance

@daecpa: Try to just treat this as a swing position now, which will take time to scale out of. I would close one of the buys at a time, start with the one with lower entry price when it spikes above purchase price, then proceed to do the same with the second buy. Look for new buy side entries under 1.32 and 1.31 to scalp 5-30 pips at a time to up up some equity.

Slowly scale out of shorts but set new SL's on each once you get some movement in your favor to maintain the ground the market gives you.

As you get closer to break even / or break even / or turn positive ... Close all positions associated with this process and start over.
Goodluck with the position and have a nice weekend.
  • #630,172
  • Apr 21, 2012 8:02am Apr 21, 2012 8:02am
Quoting FXMindset
ah...absolutely agreed
Other means,
When we are wrong then we must admitted wrong,accept the loss and move on
Dont use SL/dont accept the loss is the same trying prove Mr.market we are right..and the price is truly expensive
If there was easy money lying around,no one would be forcing it into your
  • #630,173
  • Apr 21, 2012 8:04am Apr 21, 2012 8:04am
Quoting daecpa
Hi everyone,
I am stuck on a hedge position at eurusd as forced by a margin call. Guess my view is that the eur could rise a bit more (maybe 1.33700?) and then hopefully fall. Mi idea is , if that happens, close the buy orders (at 1.32200) and then leave the sells opened in the hope of a sharp fall. Attached enclosed my screen shot. any ideas on how to manage this mess are really, really appreciated.
thanks to all in advance

Woa.. Let me get this straight. You have one and 3 lots opened on a several grand acc? My account is many times over yours and I don't trade one lot.. You are way over leveraged.. And btw, you could indeed close the buys and hope.. But e/u will go up imo.
  • #630,174
  • Apr 21, 2012 8:11am Apr 21, 2012 8:11am
Whereever you are in the world

Good Morning, Good Afternoon And Good Night

I didnt realise over the weekend dialogue still continues in this forum

WoW!!!!! Now I know who the real die hearted traders are
  • #630,175
  • Apr 21, 2012 8:17am Apr 21, 2012 8:17am
Quoting HDA
Whereever you are in the world

Good Morning, Good Afternoon And Good Night

I didnt realise over the weekend dialogue still continues in this forum

WoW!!!!! Now I know who the real die hearted traders are

@hda you still holding all shorts
  • #630,176
  • Apr 21, 2012 8:20am Apr 21, 2012 8:20am
Quoting daecpa
Hi everyone,
I am stuck on a hedge position at eurusd as forced by a margin call. Guess my view is that the eur could rise a bit more (maybe 1.33700?) and then hopefully fall. Mi idea is , if that happens, close the buy orders (at 1.32200) and then leave the sells opened in the hope of a sharp fall. Attached enclosed my screen shot. any ideas on how to manage this mess are really, really appreciated.
thanks to all in advance
pal first you are a hell of a trader... you have guts but not brain (trading IQ).. maybe you dont have experience maybe you dont have it yet. but its ok you can be as good as anyone.

there is a prison break for you, but is not gonna be easy.

first step. talk to your self. you might lose money from this trade. you have to accept it.

second i want to tell. hedging with no reason is not a strategy, is like closing positions. its all the same. understand this. hedging must be a part of a plan in order to have any meaning.

so what you got to do. first complete step1.
then hedge all you position, so to be 100% balanced and wait!!!
wait until you find a daily close above 1,35 or lower 1,30. then you might want to wait again to see if pair use those zones as support or resistance, and then close your hedging positions.
this is the most important point as you have to decide if you wait to confirm the daily break or if you miss the train. personally i would wait...

In the meanwhile you can trade this pair, and will be better than waitting, so not to lose contact. But trade with no more than 0,20/0,15 lots. NOWAY MORE LEVERAGE!!! (You are maniac)
Maybe you want to sell 0,15lots at 13260 with tp1,320. take your profit and enjoy it. Maybe sell again at 1,3350/60.

Hope the best for you. Be patient and calm. I was beaten hard in EURCHF, and i was bleeding from my hears and eyes, but only for one day, a good trader can accept losses cause knows can take it back.

EDIT : BECAREFULL 130 IS NOT THE TECHNICAL RESISTANCE. THE TECHNICAL RES IS 12950!!!
There shall be no QE3
  • #630,177
  • Apr 21, 2012 8:28am Apr 21, 2012 8:28am
@Daecpa:

First Things First

PKIMNYC: Is correct. CLOSE ALL YOUR TRADES.

I say this because - there is a lesson to be learnt here. Im not being hard on you, Im helping you. If you get badly burnt, the lesson sticks alot better. Save yourself the pain and frustration - psychologically you are destroying your ability to think clearly holding on to those trades.

2. Lower your leverage to 1:50

3. From this day forward - only trade with one lot ONLY for now and let that one lot teach you patience and money management.

4. While you are learning patience you will learn how to control your greed.

5. Dont be in a hurry to make a million dollars - just learn, learn, learn and learn - while you are learning you are slowly growing your account.

6. If you ask any honest trader, where you are now, we have all been there.

7. I am also short on EUR but my margin available to me is over 1 million so I can hold my short and afford to do so comfortably.

8. For now when you trade - only go for 15 pips, that will protect you from holding your trades too long and most importantly - it will control your greed, grow your account slowly but steadily and at the same time teach you patience.

TAKE THE LOSS - LEARN THE LESSON - START OVER

Always remember an essential part of trading is learning to take a loss
  • #630,178
  • Apr 21, 2012 8:31am Apr 21, 2012 8:31am
Quoting Dzm1
@hda you still holding all shorts
@Dzm1:

How's it going? Yes I am still Short
  • #630,179
  • Apr 21, 2012 8:36am Apr 21, 2012 8:36am
Hi HDA,

I asked for you seven rules. Can you provide them? Very curious how your philosophy works
  • #630,180
  • Apr 21, 2012 8:36am Apr 21, 2012 8:36am
wow,
Thanks all for your great help and suggestions. I couldnīt expect such a massive answers from all of you !I know i have overtraded volume and really push it up more than I should, but as ome of you say, iīm in prison and will try to find out plan to escape in the harmless way possible. I will have a long weekend trying to decide how to go about it. As for the hedging, I was forced by the broker, received a margin call and if I didnīt do it, they will either close some lots or hedge some, so i prefered to do it my self. Of course I could just simply close all the losing lots, but will already accepted the losses, and by hedging the only extra cost is the spread to pay plus small swat charges, but have at least the chance, if managed well and with a little help of luck, to reduce the losses. whatever happens, I will let you all know how i came out of this mess.
Thanks again to all of you!
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