million dollar question (this is it!)

[Joey25]

It's utterly tardesque. He's brought this up before when complaining about his broker not allowing him to run two simultaneous positions -"me broker, he say me now have no position, anyone know of reputable firm who can service me" or similar nonsense.

 

[everyonerich]

What kind of plan would get you into the situation that you are describing?
If I have this right, you enter a long position at 1.40 ...
The position goes against you 100 (or 1000 if it is EURUSD) and you are still holding your long and then go short at 1.30? And apparently you now have a scheme that will turn around this and make you profitable?
I hope you are not planning to sell this because i cannot imagine a very large market for it.

Here is my very blonde solution that requires no charts with X's
Enter long at 1.40, trade does not work, cut trade and short down to 1.30 ...
100 or 1000 pips up and no stupid brain hurting questions.

i highlight your text in red color, my reply is.. what if once you enter short and price going up? what you gonna do?

 

[elitejets]

i highlight your text in red color, my reply is.. what if once you enter short and price going up? what you gonna do?

Well its probably old fashioned but cutting losers works for me.
I should prolly take my own advice here. Have a nice day.

 

[MrGecko]

what you gonna do?

Put my left hand down my pants to feel how brave I am, simultaneously lick my finger and stick it in the air to determine the direction of the wind, then swing for the fences.

 

[foredog]

i highlight your text in red color, my reply is.. what if once you enter short and price going up? what you gonna do?

Cut it again, go off have a cup of tea and wonder why i keep doing so many sh*t trades.

 

[Calinor]

you had 2 opened position, for eg: one buy position at 1.4000 and another sell position at 1.3000, how do you get out from that with profit?

Close the position that is in profit, withdraw the profits. Once that is cleared in your bank, withdraw all your money from the bank and default. Go live somewhere sunny with your one million plus profits and avoid the authorities

But seriously unless your long position and your short position are on different underlyings then, as MrGecko said, you have no position. There is no way of turning a realised loss into a profit. You can make an overall profit by taking other trades as you have been told, but not a profit on this trade since you have no position. Is there an actual purpose to this thread evereyonerich? Because at the moment it seems no. Happy April Fools day Everyonerich

 

[normbeef]

What a complete F*&^ing waste of time this is.. cant believe I wasted 10 mins of my precious life reading this crap

 

[everyonerich]

i'll give anyone a million dollars if you are able to give proper answers at post no.18

 

[blackcab]

nope.. this is the real million dollars question. you see the "X"? it is the zone you can choose to buy or sell to make the previous 2 opened buy and sell position INTO PROFIT.

*Profit here i means equity is more than acc balance. for eg: if 3 losing position but with 1 big winning position, its profit and you can close all position and get out with profit. "get out with profit" means you add some more trade in some X zone and once market move your trade profile would be more win than lose position. therefore can get out with profit.

If the two trades are the same size in the same underlying in the same account then one closes the other and you have no positions, not two positions.

1. Buy at 1.4. One open position.
2. Market moves down, trade is in loss.
3. Sell at 1.3 closes the trade and realises the loss. No open positions.

If you are using different underlyings or different accounts, or sizing positions differently then please say so, otherwise the above describes the order of events precisely and I hope clarifies the situation for you.

 

[Calinor]

Well I don't have a million dollars, but I'll buy someone a pint who can end threads that have questions without any point or even lock threads that seem to be a complete waste of time. Unless there is some wisdom you're trying to impart here everyonerich, this is 9 pages of nothing. I'm trying to learn as much as I can by reading threads at this forum. And there seems to be nothing of value here. If you have a point, please make it soon.

 

[everyonerich]

If the two trades are the same size in the same underlying in the same account then one closes the other and you have no positions, not two positions.

1. Buy at 1.4. One open position.
2. Market moves down, trade is in loss.
3. Sell at 1.3 closes the trade and realises the loss. No open positions.

If you are using different underlyings or different accounts, or sizing positions differently then please say so, otherwise the above describes the order of events precisely and I hope clarifies the situation for you.

- all position under 1 account only
- 1 buy opened position(1 lot) and 1 sell opened position (1lot)

*thats about it, no comment about the rest

 

[everyonerich]

Well I don't have a million dollars, but I'll buy someone a pint who can end threads that have questions without any point or even lock threads that seem to be a complete waste of time. Unless there is some wisdom you're trying to impart here everyonerich, this is 9 pages of nothing. I'm trying to learn as much as I can by reading threads at this forum. And there seems to be nothing of value here. If you have a point, please make it soon.

point of this thread is im asking a question and hope any expert like you can have some sort of solution.

 

[blackcab]

- all position under 1 account only
- 1 buy opened position(1 lot) and 1 sell opened position (1lot)

*thats about it, no comment about the rest

OK. Let's take it one step at a time.

1. You start the day with no open positions.
2. You buy 1 lot at 1.4000

Is that ok so far?

 

[foredog]

- all position under 1 account only
- 1 buy opened position(1 lot) and 1 sell opened position (1lot)

*thats about it, no comment about the rest

WITH MOST BROKERAGES IF YOU HAVE A LONG POSITION AND YOU THEN SELL THE SAME AMOUNT THE POSITION WILL BE CLOSED AND YOU WILL HAVE ESTABLISHED A PROFIT OR LOSS. (if you don't believe me open a few demo accounts and try it)

EVEN IF THEY DON'T CLOSE IT OUT YOU WILL HAVE TWO CONTINGENT TRADES WITH A NET PROFIT/LOSS LOCKED IN.

THEREFORE YOU CANNOT MAKE MONEY FROM THESE TWO POSITIONS UNLESS YOU EXIT BOTH AT DIFFERENT TIMES WHEN THEY ARE BOTH IN PROFIT.

END OF THREAD $1M PLEASE.

 

[everyonerich]

OK. Let's take it one step at a time.

1. You start the day with no open positions.
2. You buy 1 lot at 1.4000

Is that ok so far?

yup..its ok. please continue

 

[blackcab]

OK. Let's take it one step at a time.

1. You start the day with no open positions.
2. You buy 1 lot at 1.4000

Is that ok so far?

yup..its ok. please continue

3. The market turns down and reaches 1.3000
4. You have one open position that is showing a current loss of 0.1000

OK so far?

 

[everyonerich]

WITH MOST BROKERAGES IF YOU HAVE A LONG POSITION AND YOU THEN SELL THE SAME AMOUNT THE POSITION WILL BE CLOSED AND YOU WILL HAVE ESTABLISHED A PROFIT OR LOSS. (if you don't believe me open a few demo accounts and try it)

EVEN IF THEY DON'T CLOSE IT OUT YOU WILL HAVE TWO CONTINGENT TRADES WITH A NET PROFIT/LOSS LOCKED IN.

THEREFORE YOU CANNOT MAKE MONEY FROM THESE TWO POSITIONS UNLESS YOU EXIT BOTH AT DIFFERENT TIMES WHEN THEY ARE BOTH IN PROFIT.

END OF THREAD $1M PLEASE.

Please allow others to answer my questions. i'll give anyone a million dollars if you are able to give proper answers at post no.18

 

[Calinor]

The question is not well posed though everyonerich. I suppose if I did hate to take a loss that much, that I couldn't accept an already realised loss was true, I would probably do a lot of analysis and try to think where the market was going. If i believed it was going up, then I'd exit the short, leave the long on, and hope my analysis was correct. Is this a real position that you're in everyonerich?

 

[everyonerich]

3. The market turns down and reaches 1.3000
4. You have one open position that is showing a current loss of 0.1000

OK so far?

YES. ok. please continue

 

[blackcab]

OK. Let's take it one step at a time.

1. You start the day with no open positions.
2. You buy 1 lot at 1.4000

Is that ok so far?

yup..its ok. please continue

3. The market turns down and reaches 1.3000
4. You have one open position that is showing a current loss of 0.1000

OK so far?

YES. ok. please continue

5. You sell 1 lot at 1.3000
6. Assuming you're using a regular broker, that sell does not open a second position. It closes your existing position.
7. You have taken a loss of 0.1000 on your account and you have no open positions.

Still OK?