Inner Circle

Please submit your questions pertaining to the Inner Circle Course here! Remember to up-vote in order to see the questions answered during the live sessions!

EUR/CAD and GBP/NZD positions

Gary I am new here and I am enjoying your presentations. You're amazing! And yes I do enjoy your Australian accent.😁               I am brand new with MTI and really quite new at trading at all. Only a few months actually. When you have currency pairs go against you like the EUR/CAD and GBP/NZD did what are we to do?  Just wait it out? Why do we not counter trade? Will these 2 positions be ok? How can I be sure? Thanks Gary!

  • MaryAnn Dyke
  • May 20 2017
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  • Benjamin Weir commented
    May 22, 2017 00:21

    MaryAnn, I'm in the same position as you in the EUR/CAD especially,  Yes we need to hold our positions.  We need to believe in our strategy and stick to our strategy because overtime it pays off.  I've actually been short EUR/CAD for two or three months now and the only reason I can hold the position I'm in now is because of just entering the market with a small position.  As Gary stresses we need to make sure that we follow sound equity management, that's what will save you as a trader.

  • MaryAnn Dyke commented
    May 30, 2017 20:18

    I did not see your comment sooner! I cannot see how on earth you can make money by holding losing positions. I closed out with a good profit and according to Gary no new setup... Something Does not make sense!