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i think that 1st of all, you must apply stop loss on your trades and don't let it go such a lot in loss...but if you're already losing such big bucks...then you must assume and customary sense. Best call may be a whisper of conscience. If you let the floating negative, is there any indication of the condition of the market can flip around? If there's, whereas you let it..
I extract you ask the conscience and demotic judgment. Unsurpassed assessment is a suppuration of conscience. If you let the floating antipathetic, is there any datum of the stipulation of the activity power transmute around.
i think, i can't reach that much loss, because i usually put, a 40$ loss,
that is, when i reach that much loss. trade closes. so i never get to that much loss in a single day.
i think it can be impossible to do that
It depend on your equity if you have more equity then there is no need to close that trade or if you talk about pips then when a trade go to 100 pips to negative than you have to confirm that its no coming back and you can open new trade
I read your thread & my opinion that may be your loss change into profit. So you are act the following things.
1 Market analysis.
2 That chance to up coming your open trade then you are close it at this time
3 You are observer that market continuous down then you are clos the trade & save your reaming money.
4
first return to the principles of money management that you are using, because the decision to cut losses .and average you may be using as you do these ,as for me i would say close the order if there is no hope.
What you will do.when you position 300$+ loss?Close or not.......i think that depends on you and if you think it will recover you can open and if you feel you get more loss then better to close and how much capital you have?and at whatt rate you buy silver...........
Firstly you have to learn to set stop loss in every trade you make. you also need to calculate your lot size carefully, dont use big lot size. You can avoid big loss if you do that. if i get 200$ floating loss then i will lock my loss with hedging strategy so i will have time to make new analysis about my position. I will unlock my position after i get strong signal and try to minimize my loss or reach break even.
best regards ..
In my experience the basic strategy to help us from mistakes in taking the position that:
1.One target shoot with SL OR TP
2.Grid is a specific strategy used only in the market who are quiet
3.Averaging strategies that are common for the markat who are trending
4.Cut and switch
5.Cut and doublecover
6.Hedging
7.Interpair hedging,its strategies must consider the correlation between currencies.
if that happened to me, I still would postpone for a moment, if the situation improve well, though probably will not make a profit but at least it may reduce value of losses. it is just my opinion. it is also depands on the principles of money management that you are using.