Try to minimize your loss as best as possible, but throwing more money at the problem will only make it worse. Your swap fees seem to be excessive, but I don’t pay swaps with my broker, so I can’t say for certain if your broker is really out of line or whether you have been holding these positions too long. I definitely wouldn’t swing trade with this broker going forward.
Are you beta testing with this broker? Going to their link shows that they aren’t even open for business yet.
If someone tells you to buy or sell a pair in this thread or tries to give you a trade signal, don’t listen to them. Taking other people’s trade signals is what helped you get into this situation.
For your own sake, please don’t entertain a trading signal that has no context, no analysis, and no justification given to open such a position. You have been given no evidence to support a trading decision.
I’m not surprised to see you saying that you’ve been banned from every other forum you’ve posted in. I think it speaks very highly of Babypips that it remains willing to accommodate you. It’s just a friendly suggestion, but I really wouldn’t push your luck, if I were you.
No mention of anyone specific. Just friendly advice about doing due diligence. If you think I was referring to you, it’s because you believe it may apply to you. That’s 100% on your interpretation of my non-specific statement.
Go read your loss thread again, you’re confusing me with someone else. I refuse to entertain that thread any longer.
Their website works fine but for the last 1 week I am seeking that their website is prone to phishing attacks.
Can you tell me which platform you are using that charges no swaps at all?
Also, do you or anyone on this forum know as to how much would I end up with given my balance on the account, equity, negative profit, swap charges and the credit from the broker? If I close on Thursday or Friday would I get any money at all?
I don’t even know if I can find some info on their website for closure policy.
Sorry I don’t promote or recommend forex brokers on babypips.
I can’t tell where you would land because your broker’s website doesn’t show what fees they charge, it just says ‘coming soon’.
I really feel for you. They have you in a serious bind that won’t be easy to get out of without taking a loss. This is why thorough research and due diligence prior to engaging with a broker is important.
I agree and it was the first time ever I fell for a spiel that I had no idea about. I do understand that there would be a loss but my question is how much! Something that I need to find out.
I can’t go back and regret about things I did not do or did / hindsight I wish I closed the account back in August and September when my investment was less than half of what it is … but like I said I need to do something now and I only have my present to change how the future turns out.
Trading brokers often profit from swaps and high activity. Consider closing poorly performing positions, stop further funding, and focus on education. Recovering losses might take time; prioritize financial stability first.
I have found that it takes a lot of courage to step back for a while. A friend of mine took a break from trading and he was having such a FOMO when he used to look at the market news. But it turned out to be the best for him since this break gave him the time to build a strong trading strategy and get back in the game with a bang!
