Good Morning all from the UK,
I am looking for long term advice and thoughts regarding several positions I hold in NZd/USD pairs. I did well buying and selling them several weeks ago and foolishly placed several more believing they would upswing and all they have done is plummeted.
Firstly, I have read the trend analysis and the long term has now gone, this is somewhat concerning, all the positions had no stop losses (yes big mistake) and so are now languishing at -£1000.
Secondly, I have 1000% margin so some ways to go but really need advice as to whether to cut my losses and run.
So, my question’s are, should I wait it out or cut and run?
What are the chance of this trend reversing as this is the lowest the pair have been for a long time, im 700 pips off my first close?
thank you for any thoughts or guidance.