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Does not work. Eventually losses get "accepted" until account is wiped out.Ignored
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Disliked
Does not work. Eventually losses get "accepted" until account is wiped out.Ignored
DislikedNot sure what you really mean by this. Are you saying we should chase every single loss and try to turn it into a winner?
==> No, the loss can be managed, same as the win.
Never define or limit risk before we enter a trade?
==> I suck at picking winning trades therefore I keep the bets small.
Trading is a game of probabilities, you win some you lose some. Nobody ever knows what the market is going to do next,
==> I absolutely do not have a clue if any given position will be a loser or winner. Only thing I can do is to manage the positions....Ignored
DislikedYou have dug yourself into a hole by getting deeper into a trade which has gone horribly against you, clearly you have lost control of it and need to get out. The more you try to fight it the worse you are going to get hit, so liquidate the whole thing, accept the loss and go back to the drawing board. Jack_Larkin gave you the right advice. Take it.
You really need to learn how to accept risk and take losses if you want to improve. As for nanningbob telling you to keep trading it, trying to dig your way out - I'm not sure if he is making...Ignored
DislikedIf he had entered his second buy position at 89.00 or any break above that, which broke the monthly resistance, he would have regained half of his losses by now. Another 200 pips or so and he can get out at break even. So folks that is how it is done. If he closed one sell position his buy position would now have broke even his other sell position and it would be close to turning a profit now. Anyway I wasnt expecting price to explode like it did today but I am not missing anymore of it. You can ride the JPY weakness for quite a while. Yes there...Ignored
DislikedOK If I understand your problem you now have 2 open sell positions one is around -760 and the other is -620 and you have one buy which is up +310. These are approximates to me. Since the buy position is hedging both old positions I assume it is double in size so it equals the -620 position. If this true use this profitable position and close it along with one of the old losing positions and half of your problem is now solved. Now you can work on the last losing position and you also have some room work with as far as margin goes.
You can now...Ignored
Dislikedhello i didn't get it clearly i must close the -760 ??? and keep the -620 with the buy position or i have to close them both -760 and - 620 and keep the buy ???Ignored
DislikedOK here is a pic of the AUD/JPY. As you can see price is resting after a nice run up. It hasnt retraced much showing the move still has some legs to it which is what I expected. It may move out in the JPY session in an hour it may not. I will be putting my second position of my trade above the 92.70 line which is where you will want to enter your recovery trade stage 2. I assume you have closed your buy and sell at this point to cut your problem in half. This will give you some breathing room to trade again and will give you back some of your margin....Ignored
Disliked.
no i didn't do anything am afraid to close the buy and sell and if i let the 0.2 sell and the market will make a big move up so i will be out of the market
did you understand my situation ???Ignored
DislikedIf you have 4 lots open 1 lot sell 1 lot sell and 2 buy lots and you close 2 buy lots and 1 sell lot you have freed up your margin to reenter a trade again of 2 lots buy.
If you cant do that because of margin or what ever. Then your only hope is to close the sell lots and continue your buy until you gain your money back. I may not fully understand your position unless your 2 sell lots have taken all your margin and your broker allows you to use 2 buy lots without using any margin. In that case your only hope is one super trade with those buy lots....Ignored
Dislikedwhat about close them all and begin with new positions
and if you can of course with ur help you give some point to enter with tp and slIgnored
DislikedYes that is an option. I was trying to help you save some or all of your account. I do have a very clear cut trading system with SL and TP and is one of the simplest and easiest to understand. It is also consistently a winner almost every week. In other words more winners than losers and the winners are bigger than the losers. Your biggest losers are 1% of your account so if you trade 1000 dollar account the biggest loss you should take is 10 dollars or 1%. Winners will vary based on market conditions but but my average pip win is bigger than my...Ignored
Dislikedwhat you prefer to wait more
or to close the sell positions
or to close buy and 1/2 sell so i keep half of the sell position in market
or to close them all and to be safe
or to close them and leave 0.1 buy
anw do u have some quotation of other currency??Ignored
DislikedThose are questions only you can answer. I have given you a possible plan to follow, I dont know all the details or what kind of trader you are. If this was my problem I would know how to handle it if a sudden change happened in the market. Again my advice would be to close one sell position and close the entire buy position. This leaves you with half your problem gone and some margin to work with. You want to have a pending buy of at least 2:1 or more if you can risk it. You have a pending buy above 91.80 when price breaks out to the upside again...Ignored
Dislikedok thanks man my decision is to close at least half of the sell when market makes lows and keep the buy poisiton hope it will work ")Ignored