I have an appeal i am stuck in to much losses

samekhan

New member
Jun 8, 2018
7
0
1
#16
please contact me on Skype or telegram so i can show you my charts after that please decide i need to close it or not because i am new but still think its easy to get out from this please

skype alhamdullah12 name business promoter


telegram @samekhanok
 

timsk

Well-known member
Mar 18, 2002
6,791
1,741
223
#18
Hi samekhan,
You are a unique trading talent. You appear to have three long positions and three short positions in the same instrument and all six are in the red!!! With the exception of your opening long position, you've managed to achieve this extraordinary feat by buying and selling at roughly the same price. If you're going to add to (losing) positions, at least do it at a more advantageous price, i.e. where value can be found. Unless the trade is profitable, most T2W members would advise in the strongest terms possible that you don't do this, (i.e. never add to a losing position). And then they'd be even more adamant that you don't try and hedge your position by trading in the opposite direction simultaneously in the same instrument. In effect you are now market neutral and have locked in a £5k+ loss.

Your only option now is to do one of two things:
1. Close all positions and learn from your mistakes.
2. Decide which way EUR/USD is going to go, close the positions in the opposite direction and resort to the dirtiest of four letter words (hope and pray) that the remaining positions come good. If you're a true gambler, then you can add yet more positions - but make sure they aren't anywhere near the ones you already have open.

I may be wrong, but I suspect most members will stick with their original advice and tell you the one thing you don't want to hear, i.e. option 1 above. If its any consolation, I've been where you are now and have tried to manage multiple positions in opposite directions in the same instrument and also got myself into a mess - albeit not one nearly as bad as yours!
Tim.
 

Lee Shepherd

Well-known member
Feb 12, 2008
2,165
570
123
#20
Hi Samekhan,

I've read your posts and looked at your trades. I've also paid attention to your words and how you express yourself given your positions.

In short, this would be best summed up by saying 'what a f**k up'. Sometimes a good slap is sufficient enough to let what you have done, sink in. We're here to make money, not lose it. If you want to lose, got to the casino and gamble there.

You have abused leverage - you need to de-leverage by a huge percentage. This is how you have ended up with a 50%+ loss on your account.

NOTE: There is/are missing trades here. I cannot see/verify where a loss of £1,078.97 is showing. You may have hid these trades for some reason but I feel you may have simply cropped the screenshot. Please re-submit the screenshot with all trades for further help. If you are transparent, others will be too.

You are stressed/panicked - understandably so, I would be too if i were close to losing 50%+ of my account. The reason you are panicked is due to not following your plan (assuming you had one of course). And therefor you did not close down your trades when prompted to do so. If you don't know, don't trade. You don't know what you are doing here (at this juncture) and therefor you should not be trading.

Let's sum up and not waste any more time:

Facts:
1) You are stressed/confused/panicked
2) You are over leveraged
3) You have no idea on what to do next

Solution:
Close all positions - No:1, No:2 and No:3 from above will all immediately disappear

Then re-evaluate what you are doing and what you are setting up to do before entering in to any further trades.

Go back to the drawing board.

Have a good Sunday.

Lee
 
Feb 6, 2004
4,854
778
123
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uk
#21
what I see right now, and is of no help at this time obviously, is a failing support and resistance method, this is quite clear from a 1hr chart this was being attempted. if not the above then that's an even worse situation for the future, but it would still mean back to babypips school for you samekhan.

easy to say in hindsight and with no money on the line, but putting that hedge in at the resistance point without any apparent break through did considerable damage in itself.
 

Attachments

NVP

Well-known member
Jun 21, 2004
35,832
1,736
223
west sussex, UK
fxcorrelator.com
#22
i see about £6k down the pipe ?

just close all trades and start fresh (in demo !!) as i have now repeatedly said

even hedged trades just roll around the closet as clutter in your head and remind and worry you ..you need to be free of this historic mess to start fresh

again if its any consolation i am sure theres plenty of us here who lave lost more than this at times over the years ....i have i know ......its all part of the learning .....you wont do it again ...right ?

N
 

malaguti

Well-known member
Nov 3, 2009
2,246
414
93
#23
don't worry the expert traders are on their way (y)
well I've got to say the responses on this really are lacking in imagination
in the ops shoes would i really be closing my positions? I doubt it
I would probably remortgage my home, sell my wife and daughter and double up on all of my positions. they will come good eventually, surely?
skype me, email me, page me, telegram me, fax me on
idontknowwhatthe****imdoing.com where sound advice really matters!
 

barjon

Well-known member
May 6, 2003
10,050
1,474
223
78
#25
Aside from the small gbp trade you have locked in your losses by now having equal eur positions both long and short. Thus you are in just the same position you would be in if you had closed out all those positions. A slightly worse position actually because you are still racking up overnight charges.
 

Kaeso

Active member
Oct 4, 2015
861
91
38
#26
Aside from the small gbp trade you have locked in your losses by now having equal eur positions both long and short. Thus you are in just the same position you would be in if you had closed out all those positions. A slightly worse position actually because you are still racking up overnight charges.
he is buying more time in case anyone has a rescue plan to get him out of the hole :cheesy: ..
 

Atilla

Well-known member
Nov 15, 2006
18,260
2,527
323
#28
Well my advice would be not to panic it's not that bad. Had worse.

Close the shorts and keep the longs would be my advice.

Dollar index is falling.


In case market moves against you have a mental figure on how much of that money you are prepared to lose and act mercilessly if trade goes in opposite direction.


That doesn't mean buy in opposite direction. It means close losers ASAP.


Hope it works out. (y)