Good evening, sir, ma'am.. may I have permission to ask for guidance, I am Reza, a student in Jakarta, I was deceived due to my ignorance and naivety in trusting my father's friend who promised great benefits from instaforex IB PrimaTrading, introduced to an EA that ultimately caused losses and locks.. I have lost a total of $2000, is it possible to recover it in a safe position? Because now my balance is only around 900 with equity at 206, and a negative of around 700.. can it be secured?
@ Reza Muhammad:
Equity = Balance + Floating Profit / Loss. If equity = USD 206, balance is around USD 900, then the floating loss is around USD 694.
- … already lost a total of $2000, can it be recovered with a safe position?
Regarding the amount of money that has been lost due to loss, of course it cannot be returned. As for the still floating loss (minus), there is a possibility that the loss will become smaller, or even turn into profit, depending on the direction of price movement.
If there is no stop loss, or no risk limitation, there is a possibility that equity will continue to decrease until you are stopped out and trading is stopped automatically. At the time of stop out, the remaining funds will only be a certain percentage of the margin when you opened the position.
Because there is a lock, our advice is to close all open positions on the lock, because opening a lock is not as easy as imagined. As for positions that are still open and have no stop loss, immediately set a stop loss to limit risk.