GBPJPY - Waiting for Bullish reversal

[Pheniox123]

Yeah, Yesterday it went -18K on floating but lucky it made a pull back and now it around -6K in floating.

I am holding this position more than 45+ days and i want to get out of it but cannot close the trade in loss because -6K is big and cannot afford this kind of loss. still holding with hope it will go up in 15-20 days.

Just worried about swap charges which keep increasing every single day.

Yes, thank God there was a pullback and hopefully (who knows) might be a reversal; as there was a strong rejection at 148.461. However, if it does go back to bearish sentiment again then it will slide all the way down…just make sure you have an exist strategy (sometimes you can re-inter at lower levels; such as mentioned above and by the pullback profits you can cancel the loss and break even at current price…but again to do so you have to have an idea where the bottom was).

good luck
Pheniox

 

[shanmugapradeep]

Finally i have closed my trade when i see small reversal and made cut loss.

Report :

Thank you all for your suggestion. The issues is resolved.

 

[pezz55]

This was such a good thread to read, felt like I was living that trade with you. It can be tough when it doesn't go to plan, it's really hard to cut your losses. I couldn't afford this sort of loss as I have a much smaller account, I work with a stop loss so the losses never run away from me. Well done for getting out in the end, sensible decision. Reset and try again, good luck.

 

[sebking1986]

Yeah it was a good read. Interesting to see how people cope with the psychology of trading.

 

[vvovan]

Finally i have closed my trade when i see small reversal and made cut loss.

Report :

View attachment 67237


Thank you all for your suggestion. The issues is resolved.

congrats!

 

[FriendlyFX]

Not so bad glad to hear this issue has been resolved can be a real nightmare and a lesson for us all

 

[bigdolly]

Yeah don't wait for lucky development of events just keep things predictable and your trading will remain under control

 

[Adrian_br]

I think it rest for a while at this support.