Is there any one who can help me on this account / trades with a profit %

[ilearn2t]

Hello tariqmahmood17

Thank you ilearn2t. This is what i am doing and planning to close by mid night today to avoid another shot of swap. Or may be i will leave some and try to close tomorrow with lesser loss . Thanks a lot.

You will be losing "Swap" value by closing lot for lot like, but there is no way round this without taking a bigger risk.

Good luck
Liz

 

[tariqmahmood17]

Thanks liz, i tried both the options, getting it managed by the broker and managing myself, broker was chasing the swap and the spread and commission, then i switched to manage my self. My question is what is the industry norm for swap and spread and commission for eurusd. I have all the trades in eurusd with a swap of 6 dollars per night on buy and sell and spread of 1.8 and commission of 0.6. Is that normal or higher in the industry. I am now looking for a new broker with lower spread and zero swap, can i find one or could you recommed any one. I might start to invest 50 K or more, depnding on the spread and swap.

 

[ilearn2t]

Hello tariqmahmood17

I'd concentrate on the problem at hand, and once this is sorted out then talk more about the finer points of Forex trading and such like.

Can you post some images of your account once you have removed most or all the buy/sell lot orders.

Remember tomorrow (Wednesday) is a triple roll-over, and at

6 dollars per night on buy

a lot more thinking might need to go into your next move.

Good luck
Liz

 

[ilearn2t]

Hello tariqmahmood17

How this account would look after removing lot for lot.

Sell ticket: 11031609, 11031663, 11031728 = +6,284 (12 lots)

Buy ticket: 11029076, 11032902, 11031421, 11033483 = -5,244 (12 lots)

Swap loss: -1,470

Sell ticket: 11025082, 11152658 = +1,992 (6 lots)

Buy ticket: 11029073, 11035272, 11035541 = -1,602 (6 lots)

Swap loss -545

Total loss overall -1,575 (Swap)

52 Buy lots remaining + 52 Sell lots remaining.

You'll need to start thinking about taking some risks very soon.

Good luck
Liz

 

[tariqmahmood17]

Thank you liz, i will try to close most or all of the trades before tomorrow triple roll over. So far made 500 dollars and closed half of the trades. Lets see what happens tomorrow and tonight.

 

[tariqmahmood17]

Hello everyone thank you very much for your guidance. I have closed all the trades now and dont ask me what happend cause you know already. Any way i would like to enter again with a greater energy this time however i would like to learn most of the rules / trading / software / tools etc etc before i reenter. Now i would appreciate if you could guide me what should i do now, what broker, what test account, what tools, what spread, what pairs, what trainings, what swap, what bonus / credit, etc... What initial capital etc.. Thank you very much for your previous guidance and expect the same again ... remember i am the one who made more than 100 K loss and this experience is a great experience and i am coming back .... Thanks

 

[Pharaoh]

You need to find a well regulated broker that meets your trading needs. This will get you started:

https://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/2333-how-select-forex-broker.html

If someone pops up in this thread recommending a broker without knowing your trading needs, consider that to be a firm recommendation AGAINST that broker.


There is no tool that can save you from getting into a similar situation other than your own mind. Read this article carefully and you should be able to avoid catastrophic losses in the future:

https://www.forexpeacearmy.com/fore...2272-how-manage-risk-while-forex-trading.html


I'd also like to suggest starting out with a much smaller initial deposit. This enables you to test the broker as well as yourself. If either the broker turns out to be bad or else you find you haven't followed your risk management rules, you'll have less money to lose as a consequence.

 

[nahiyar]

it is a good advice to invest a little amount as a beginner. If you get low profit in start it is not bad. Main thing is to avoid from loss. No loss trading is not bad. Slowly you can improve your ratio of profit . Consistent low profit is admirable performance for traders rather than loosing money in high risks.

 

[clasgolf]

Close out the profitable sell trades....The Euro cant go down forever and the dollar cant sustain these highs for much longer. What looks like a bad situation,which it is, could turn out a bit better if you have patience and enough equity. After all , Tariq, it cant really get worse...... I dont trade the euro.usd , but looking at the daily charts, it might take a few days to turn...good luck

 

[dkami]

This thread is over a year old

Anyway If the OP took my advice they would have come out in good profit's instead of a big loss!