Help

[majed]

Hi to all of you,
I am new in forex, just 2 months, I have now a mini account, I am in the following situation:
My Balance is $9700, equity 417, Used Mr 350, UsblMar 66.5 Int -14, Net$ P/L -568,
A summary of my all account positions:
cur lot S/B Open CLose p/l Int Net$P/l
USD/CHF 1 S 1.3395 1.3636 -243 -1 -179.5
USD/CHF 1 B 1.3486 1.3631 147 -1 106
EUR/USDR 2 S 1.1546 1.1446 200 -2 198
EUR/USDR 6 B 1.1620 1.1442 -1074 -6 -1074
EUR/USDR 4 S 1.1542 1.1446 484 -4 384

The prices are changing so its not 100% accurate,
I need your help and experience, how can I get out of this bad situation with minimum losses (I hope I can get profit or get even but I think its far a way), remember that UsblMar is only $66.5, and daily Int is $-14,
One option is to deposit $250 for example, but is it this O.k, or should I wait, please advice.

[Eriksson]

Originally posted by majed
Hi to all of you,
I am new in forex, just 2 months, I have now a mini account, I am in the following situation:
My Balance is $9700, equity 417, Used Mr 350, UsblMar 66.5 Int -14, Net$ P/L -568,
A summary of my all account positions:
cur lot S/B Open CLose p/l Int Net$P/l
USD/CHF 1 S 1.3395 1.3636 -243 -1 -179.5
USD/CHF 1 B 1.3486 1.3631 147 -1 106
EUR/USDR 2 S 1.1546 1.1446 200 -2 198
EUR/USDR 6 B 1.1620 1.1442 -1074 -6 -1074
EUR/USDR 4 S 1.1542 1.1446 484 -4 384

The prices are changing so its not 100% accurate,
I need your help and experience, how can I get out of this bad situation with minimum losses (I hope I can get profit or get even but I think its far a way), remember that UsblMar is only $66.5, and daily Int is $-14,
One option is to deposit $250 for example, but is it this O.k, or should I wait, please advice.

uffff
this is though situation. Very good example why one should cut his losses short !

IMO you will be wiped out before the market returns your way.

1. cut your loss on usd/chf right away, usd is on upside rally, and chf still falling fast.

2 I guess you are hoping for a rebound on eurusd, I would not count on it. My advice cut the big loss right away. But perhaps this will wipe you out?? dont know..*edit* yes your leverage seem to be high, all your positions will probably be closed if you do this.

3 I would not add funds and keep the big loser (eurusd) open You can hope for a little rebound, but I cannot se any signs the market is about to turn.. so close it SOON. Small rebound is possible, but IMO not a big one.

4 You will probably not be able to "trade out of this" so you should be prepared to take big loss Facing the fact is better than waiting more.

I am running off to work so I do not have enough time to help, GET more opinions!!

Just my $.02
really hope you will survive pal.

[ryang]

Hi

Agree with Eriksson...... tradings number one rule "cut your losses and let your profits run.

By the way. Why do you have a buy and a sell on the EUR/USD?? Is part of your strategy hedging????

RYan

[mishak]

Close EUR S and CHF B

On 11:00 at GMT close the rest

Have one day break

[majed]

Thanks ryang
As a new player, when the trend goes fast in the opposite of my expectation I thought that hedging will protect me and give me some time to think of the next step (it works in a demo account), but I fall in the trap of Margin, my account is almost frozen now.

[currencia]

Majed::

If you havent done anything as yet, my one cent worth is to close the short eurousd and the long usdchf.

Keep the long eurousd and corresponding chf with a trailer stop behind them. In my humble estimation, eurusd should tag 1.1550, where you should exit with a loss on them long euros for half your position and follow the balance in case it goes beyond 1550.

You wil free some margin if you follow this path.

Remember, ya paid less than one cent for the advice.

[majed]

thanks mishak, but at which point I should adopt your suggestion, at which prices?

[currencia]

Majed:: Forget about at what price; u got time to worry about. Press the market order button to close those trades per Mishak's idea, then see how close you can get towards break even on the long eurusd and short Usdchf.