Have been in a losing trade for too long! Mistakenly did not use stop loss. How can I exit, without blowing my account?
Sounds as if it’s too late, either way you’ve just got to accept the pain and get out.
It will only get worse.
Sorry mate
What trade are you in?
Price only continues to move in a given direction because more money is put into that trade by the large institutions. But they generally need to believe there is better than a 50% probability that price will continue to move that way at least for a time after they have added more money in.
Whatever time-frame your trade is based on, review the chart at the end of each bar of that time-frame. If there is no TA reason for anyone to get into or put more money into that same trade you are in at the end of the next bar, why would you stay in it?
You already had 3 different responses ,cut your losses , your too inexpenenced to place a trade without a S/P… For many it’s all part of the learning curve
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I think it is best if you exit the trade before it blows your account further. Remember to use stop loss in the future.