What is a good advice in such case?

hello everyone,

I am a new baby on the market trying to see how does it go. So far it was very good I started with a small amount of USD 750 and I reached USD 1,350. I am only working on the EUR/USD. I am using metatrader 4.

Today I am stuck, I made 14 sell orders without stop loss. The system automatically made a buy order and blocked USD 1,278.20. My 14 sell orders total is 3.8 pips each one on a different rate between 1.09814 up till 1.10115. The automatic StopOut buy order was done at 1.10292 at 12:11 pm today.

My provider told me it is better to close all and start over again. But someone else told me to add USD 1,200 and resume my situation wait to close the buy order at a minimum loss later and wait for the EUR/USD to fall down as it is bearshing on the long term.

I only want to read many advice to see what is the most logical decision in my situation.

Excuse my poor terminology as I am new I don’t know all technical words. And I am sure this was a very clear mistake that will make me always use the stop loss from now on.

Best Regards and thank you all

P.S. I really do not worry about the money I lost I really on want to learn from the experts and hear your advice and opinions. Thank you all

it is very hard to tell you what to do but it probably makes sense to add more money. Do not add to the positions and set a stop loss. ALWAYS ADD A STOP LOSS. if you add more money and not add stop loss you will probably lose all of it. a stop loss is very important

[B]Don’t add more money[/B]
You don’t know what you’re doing so don’t throw good money after bad.
Get stops in place now! Consider closing some or all of the trades and don’t open any more until you understand trading and, particularly, money management. Hopefully price will start to move in your favour, but prepare for the worst in case it doesn’t.

Good luck

Hi Jojema,

Please don’t add more money.
This is just my suggestion, whatever the result from your sell orders.
whether it going to become profit or loss. please open an virtual account (this is account with no real money).

Use this account to practice and know more about trading online. i know people can make money by just sitting in the table by trade forex. but forex is really complicated if you compare other trading such as hobby toys trading, second cars trading, etc.
I spend 10 years of my life to learn trading, my father spend more than 40 years to learn trading. so at least i know that trading forex need more understanding and prepared mentality.

Learn your basic first, if you having difficulties in explaining your situation and you are still new to this one. please spend at least one year trading forex by virtual account and learn from it. so you will not get shock what forex world could do to you.

Good Luck