Disliked{quote} Gidday Got some longs US/CHF Now are you thinking it will go lower than 89 I have my first pending 88.5 long I might start again at a lower level if that is the caseIgnored
There is a solution to your predicament
Take your intended amount say example 2 lots
divide that in 8 mini lots
Buy every 50pips down until all in or partially in.Now you should get overall better average price.
This way you are not over trading and you have a position should things go your way while you are sleeping.
Some say adding to loser is averaging loser.I disagree with this mentality.
Lets put this in context of traditional trading
2lots in at 89.50 SL at 8925
You got stopped out loss 25pips at 2lots loss $50 or $250
you got pissed off and decided to go in at lower price
8925 sl 89 again stopped out loss total $100 or $500
Now think in context what I wrote.25lot 50 pip loss is nothing compare to 50pip 2 lot loss.
Anyway just trying to help.
By the way US/CHF is directly correlated with EU
Only way it will go up if EU goes down.So in reality if you go short on EU is same as long on US/CHF
regards
In trading, you have to be defensive and aggressive at the same time