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  Forum  Trading Strateg...  How to Trade  Help about EURJPY
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New Post 17/06/2008 11:59
  518975
10 posts
7th Level Poster


Help about EURJPY  (N/A)

Hi Sven

I need your help

I have opened EURJPY in sell at 161.80 , 13 days ago but it is now  167.20 it means -540 PIP.

I need your advice what is better to close here and lose this money or wait for it to go down.

Thank you

 
New Post 18/06/2008 10:58
  15069710
176 posts
3rd Level Poster


Re: Help about EURJPY  (Belgium)

It depends on the money you have left on your account.

Right now the EURJPY is going up, but it will come down sooner or later.

If you still have enough money to keep on trading, you can afford to wait.  Otherwise, it's better to close the trade and look forward to other trades.

A Fibo retracement can lead the EURJPY back to the 163.00 level.  Maybe you should place your Min Exit there, and close wxith a smaller loss than you have right now.  But there is still the risk that it will go higher first, before retracing, so this depends on your balance as well.

The decision is yours,

Sven

 

 
New Post 18/06/2008 15:22
  518975
10 posts
7th Level Poster


Re: Help about EURJPY  (N/A)

Thanks Sven

I have enough money and I will wait.

What do you think about GBPUSD I have opened it at  1.9811 in bay will it gou up, and  USDJPY I op. it at 103.97 in sell will it go down?

Thank you

 
 
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  Forum  Trading Strateg...  How to Trade  Help about EURJPY

Trading in the foreign exchange market involves risk, and you should only trade with money you can afford to put at risk. Your risk is strictly limited to how much you have in your account. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 

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