Please help me out to Make my Deals Profitable

Trading Discussion Currencies
1

Hi

Thanks for everyone for your great support here…

Please find the attached image with my opened Deals(positions), could you please suggest me to make these as Profitable deals.

i have just $300.00 in my Equity…

image1.jpg700×318 53.1 KB

please give me your valuable suggestions to make these trades profitable.

Thanks for your supports

2

Considering that:

  • you are trading 50k on individual trades with a $300 account
  • You have often no Take Profits or Stoplosses on your trades
  • The number of losses made
  • You are asking this question

I assume that your forex knowledge is not what it should be and I think the best advice is to stop live trading and get your act in order befor you start trading again. At this moment that is the most profitable for you.

I am curious why you opened multiple trades at the same moment for the same cross in the same direction (see first three trades).

I also noticed the broker instruction at the top…:slight_smile: If you want to see your position in real time, please click refresh…:slight_smile: Is this the Iforex broker you are working with?

3

Is that image true?? Then what IdeFX said surely true. We must train ourself more before goin live. Or it will be wasting our money. But if we have more money, why not searching good signal provider or EA provider?? But i dont recomment for that way. Do fx business with ourself more good for our phsycological side.

Lets learn together in here. I’m newcomer too in fx business :slight_smile:

4

Hi Thanks for your reply,

Yes i am working with IForex broker,

I opened up a position when it was 1.3083

as the market goes down, I bought EUR thinking it would go up, But to my bad luck it went down till 1.2799.

In order to save my Capital, opened SHORT Position(deal size 50k & 25k). now EUR/USD trading at 1.2676 at downtrend…

what i think is as the market goes up, i can close the SHORT position & book profit right?..

Could you please help me with your Ideas?..

5

I am confused. The eurusd wasn´t even close to 1.3083 on Nov 9. That was Oct 22. If it is correct what you are saying than you should seriously rethink iforex. Can you attach an hourly chart to this mail to compare the rate with my brokers?

Anyway, if you are still in this trade. I don´t expect the eurusd to go above 1.30 soon. Considering you are only having $300 equity on your account there is also little room to take a reasonable safe approach to make your trades profitable. You are too highly leveraged for that. The only thing I can think of now is to either close it all now and take your losses as the rollover will eat the rest of your account away. Another option, but that is a gamble is to put the stoplosses of the trades at their entry price and the take profit at the maximum level that your account can handle and wait. If you close now, you at least have $300. If you wait, you will have most likely nothing and the very small change to have it back if the price rises to 1,308 again.

But if you still go for the gamble, make SURE that you will reasses your stoploss when your sell trades close at 1.28 level.

I advice to close the trades and lick your wounds. Although you will probably not like that option.

6

just reduce the size of the red ones

7

Thats not wise, considering the counter sell trades and only 300 dollar on the account.