EURUSD trading help

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KelvinFX

Newbie
2 0
Please, I need some help with my EURUSD trading.

I have been stuck with EURUSD for 3m, appreciate if anyone can provide some helpful thoughts.

I have 25 buy positions@1.1457, 5 buy positions@1.13325 and 10 buy positons@1.15652, 25 sell positions@1.1295, 5 sell positions@1.12761 and 10 sell positions@1.13719 in the same account. What is the best strategy to exit all positions with minimum loss?

Thank you.
 

counter_violent

Legendary member
9,424 2,383
Please, I need some help with my EURUSD trading.

I have been stuck with EURUSD for 3m, appreciate if anyone can provide some helpful thoughts.

I have 25 buy positions@1.1457, 5 buy positions@1.13325 and 10 buy positons@1.15652, 25 sell positions@1.1295, 5 sell positions@1.12761 and 10 sell positions@1.13719 in the same account. What is the best strategy to exit all positions with minimum loss?

Thank you.
So it looks like this?
 

Attachments

counter_violent

Legendary member
9,424 2,383
Yes. And now I only have around $10k free margin.
OK so as things stand, that margin figure won't alter as both long and short positions are cancelling each other out.

The 10k free margin figure doesn't mean much given that we don't know how this relates to the existing position sizes that you mentioned in post 1.

It seems on the face of it that you will need to create a bias in your positions, perhaps multiple times, in order to keep chipping away at the deficit as profits are booked. As profits are booked, it would also be wise to drop off an equal value in losing positions, thus reducing the margin required to maintain any remaining positions and also to allow greater flexibility as you continue to manage the account back to health. It's also worth remembering that you don't necessarily need to keep adding positions to create a bias. A bias can also be created by partially closing a winning position. Either way, this problem is all about managing and being patient, taking what the market gives and not trying to force. It's also worth remembering that when you are not actively trading these positions, that you should always ensure that you are not overly exposed (biased position) when not at the PC.

It might also help to monitor crosses of USD and crosses of EUR so you can maintain perspective on the strength / weakness of both currencies, as opposed to simply making decisions on the EURUSD pair.

PS, the more information you can furnish us with, then hopefully the better advice can be given.
 

hatemypips

Well-known member
372 21
Please, I need some help with my EURUSD trading.

I have been stuck with EURUSD for 3m, appreciate if anyone can provide some helpful thoughts.

I have 25 buy positions@1.1457, 5 buy positions@1.13325 and 10 buy positons@1.15652, 25 sell positions@1.1295, 5 sell positions@1.12761 and 10 sell positions@1.13719 in the same account. What is the best strategy to exit all positions with minimum loss?

Thank you.
First of all, don't open any trades more :D , work only in order-close mode. Secondly estimate your available margin, if it is sound enough, close profitable and then wait for losing orders reducing their loss to zero to close them in breakeven level. And keep en eye on the margin