if you are going to lose 40% in one trade then it may be a problem. also you need to know when you are wrong.......now to say usd will become strong....... at what point do you say it is not and get out.....?
A smart trader once told me that small accounts seek volatility; large accounts seek stability. Generally, if you swing for the fences going for large returns, you need to accept larger drawdowns and a higher risk of ruin. There was a member on this board who took his account from about 10K to 100K in a short amount of time, but he proceeded to lose it all. It's perfectly possible to have an edge in the market, yet blow up your account because of poor risk management, i.e., you can't handle 5 small losses in a row because of too high leverage whereas with smaller leverage you'd be able to stay in the game and realize your positive expectancy. It's all up to you, really. For some people 20 % drawdown over the course of a year would be completely unacceptable. These people would generally be happy with a 10 % return, too. If your 10K account is just fun money or a very small part of your available assets I don't see any problem with swinging for the fences as long as you know there's a high chance of blowing it all given your current skillset/methodology. Finally, it is possible to focus on asymmetric R/R trades (think 1:10), but they may not line up every day.
0.55 lots? A lot is by most retail brokers defined as 100k. Are we talking same definitions here? How can a 10k swing by as much as you indicated with a 55k position? Neither eurusd nor usdchf moved by that much.
Yeah, when you 1. Don't have a viable trading system that is a marked improvement over your previous pedestrian efforts, and 2. when you add to losing positions. I brought this up to you in your previous thread. You press winners, not losers. You're just winging it to be honest. I wish you good fortune !
farmerjohn1324 is an odd fellow. The way he writes his posts, he sounds intelligent. However he trades like a complete retard, oblivious to the concepts of risk and edge. He doesn't learn either from others or from his own mistakes. I'm thinking he's not really interested in trading to make money, and is just bored and looking for some gambling thrills.
the offset swings...up small, down big, up small...should tell you everything you need to know about your position IMO
The answer to whether that trade made sense would depend on your risk profile, your target RR, and conviction. As described, that trade sucked on all three points (at least so far).
Why retail trade fx is beyond me. Its like, someone wants to have a fitness hobby, so they take up bank robbery.
Using poker app strategy. Chillin in Turkey. Then margin call(s?). Doing FX. Limited usage of TA. No understanding in FA. (Please correct any wrong statement) Things are not - much better. But at least your trying swings now. So that's some light in the darkness/progress.