Very Few Trades - Small Gains - BIG Loses

[urdivine]

Using FabTurbo - Scalper - with defaults - MM = True

Trading EURGBP & EURCHF with $5000 demo

Since 12-04 I have only had 7 trades: +$84 +80 +25 -$251 -$426 +$78 -$390

The loses lot sizes are .15 .18 & .19

With the default TP at 150 and SL at 400....aren't those setting way too high? I read of very few people with losses
as high as mine AND with this few of trades.

Also, I had to manually close one of my trades because it did not close when it hit the SL, twice.

Anyone having similar problems or any advise?

Do I understand PBULLY's comment correctly that using Scalper the TP at 150 and SL at 400 are NOT used?

Thank you
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[PBULLY's Response to a previous similar question]

Hi urdivine,

The SL & TP you refer to are for the long term strategy only - this only trades Eur/Usd pair the Eur/Gbp is a scalper pair - nothing to do with the SL TP settings.

Always good advice to only trade what you understand - read the manual through and go through this forum for more info - just taking the time to read through all the posts will answere most of your questions.

Hope this helps.

Peter B

[Sooner]

Using FabTurbo - Scalper - with defaults - MM = True

Trading EURGBP & EURCHF with $5000 demo

Since 12-04 I have only had 7 trades: +$84 +80 +25 -$251 -$426 +$78 -$390

The loses lot sizes are .15 .18 & .19

With the default TP at 150 and SL at 400....aren't those setting way too high? I read of very few people with losses
as high as mine AND with this few of trades.

Also, I had to manually close one of my trades because it did not close when it hit the SL, twice.

Anyone having similar problems or any advise?

Do I understand PBULLY's comment correctly that using Scalper the TP at 150 and SL at 400 are NOT used?

Thank you
----------------------------------------------------------------------------------------------------

[PBULLY's Response to a previous similar question]

Hi urdivine,

The SL & TP you refer to are for the long term strategy only - this only trades Eur/Usd pair the Eur/Gbp is a scalper pair - nothing to do with the SL TP settings.

Always good advice to only trade what you understand - read the manual through and go through this forum for more info - just taking the time to read through all the posts will answere most of your questions.

Hope this helps.

Peter B

In order to better understand why you are having these results we need to know a few things.

1. What broker are you using?
2. What are the spreads for the pairs between 21:00 and 01:00 GMT?
3. What currency pair was the loss on and what day?
4. What time did the trade open?
5. What time did the trade close?

[urdivine]

I should have know the details of the trades would be nessessary.
My broker is Tradviewforex and I'm not sure what the spreads were between those times.
Sorry. This did not paste as orderly as I would prefer.

Open Time Type Size Item Price S / L T / P Close Time Price Swap Profit

12.04 22:33 sell 0.10 eurgbpb.. 0.86892 0.88450 0.86290 12.05 21:3 0.86319 0.01 84.05

12.08 22:47 buy 0.10 eurgbpb.. 0.86699 0.85180 0.87240 12.09 11:22 0.87240 -0.97 79.77

12.08 22:00 sell 0.10 eurchf.. 1.55892 1.57450 1.55450 12.10 19:38 1.55589 -3.46 25.35

12.10 23:00 sell 0.19 eurchf.. 1.55972 1.57550 1.55530 12.11 14:24 1.57550 -10.01 -251.76

12.10 23:05 sell 0.18 eurgbpb.. 0.88022 0.89610 0.87610 12.12 17:10 0.89610 0.11 -426.90

12.15 23:15 sell 0.16 eurchf.. 1.58752 1.60430 1.58190 12.16 10:36 1.58190 -2.88 77.81

12.16 00:17 sell 0.15 eurgbpb. .0.89592 0.91280 0.89000 12.17 12:28 0.91280 0.02 -390.56

[Sooner]

I should have know the details of the trades would be nessessary.
My broker is Tradviewforex and I'm not sure what the spreads were between those times.
Sorry. This did not paste as orderly as I would prefer.

Open Time Type Size Item Price S / L T / P Close Time Price Swap Profit

12.04 22:33 sell 0.10 eurgbpb.. 0.86892 0.88450 0.86290 12.05 21:3 0.86319 0.01 84.05

12.08 22:47 buy 0.10 eurgbpb.. 0.86699 0.85180 0.87240 12.09 11:22 0.87240 -0.97 79.77

12.08 22:00 sell 0.10 eurchf.. 1.55892 1.57450 1.55450 12.10 19:38 1.55589 -3.46 25.35

12.10 23:00 sell 0.19 eurchf.. 1.55972 1.57550 1.55530 12.11 14:24 1.57550 -10.01 -251.76

12.10 23:05 sell 0.18 eurgbpb.. 0.88022 0.89610 0.87610 12.12 17:10 0.89610 0.11 -426.90

12.15 23:15 sell 0.16 eurchf.. 1.58752 1.60430 1.58190 12.16 10:36 1.58190 -2.88 77.81

12.16 00:17 sell 0.15 eurgbpb. .0.89592 0.91280 0.89000 12.17 12:28 0.91280 0.02 -390.56

Your big losers are from the trades not closing when they should have. I see you had one trade open for nearly an entire day which is way to long. In fact all of your trades are staying open a long time. Can you post your brokers market watch time along with the current GMT time. I wonder if your GMT offset is not set correctly.

[urdivine]

Even before we fix the problem, just to get verification that something is wrong in the settings is GREAT news. The first week I used the default GMY offset of 1 hr, then I changed it to 2 hours which is what I believe it supposed to be but here is the info;

Broker - 07:30

GMT - 05:30

[urdivine]

For What It's Worth:
Last night - 1 profit trade of $72 and 1 loss of $333

12.17 23:06 buy 0.13 eurchf.. 1.54559 1.52940 1.55160
12.18 09:59 1.55160 1.96 72.62

12.17 23:02 sell 0.14 eurgbp.. 0.92832 0.94370 0.92380
12.18 11:41 0.94370 0.07 -333.03

I no there is a solution but I can't EVEN think of what it could be, but I'm still ignorant.

[Harre]

I would try a different broker. It sounds like it's either the broker not closing the trades on time or your internet connection that is to blame.
Have used FXPro for 2 weeks now as my live account and no re-quotes, slippage or other funny stuff. Slim spreads make it trade a lot as well.
So far about 50 trades or so in 7 trading days and only 2 losing trades, one tiny 2 pip loss and one bigger 50 pip loss. All in all I'm up 250 pips and haven't seen a losing day yet.
Good luck!

[urdivine]

I don't believe it's my broker, because I've been associating with a highly experienced, successful forex trader [no bots]. He's very familiar with what the brokers do and he knows the few honest ones.

Not only that, he made special arrangments with my broker to have tighter spreads for the few of us in his "group". But that is for live accts. So it is possible the spreads are too wide, even though he told me the spreads are "stock" spreads with my demo acct.

Now, it still would not hurt for me to open a demo with FXPro and try it.

Does anyone else ahve any suggestions or theorys?

I'm working on another huge loss right now with EURGPB.

[Sooner]

I don't believe it's my broker, because I've been associating with a highly experienced, successful forex trader [no bots]. He's very familiar with what the brokers do and he knows the few honest ones.

Not only that, he made special arrangments with my broker to have tighter spreads for the few of us in his "group". But that is for live accts. So it is possible the spreads are too wide, even though he told me the spreads are "stock" spreads with my demo acct.

Now, it still would not hurt for me to open a demo with FXPro and try it.

Does anyone else ahve any suggestions or theorys?

I'm working on another huge loss right now with EURGPB.

There is something wrong because you are only seeing it on the EURGBP pair. Look at your charts and tell us if the trade was ever in profit by more than 8 pips, if so, that tells me something is wrong with your MT4 as it should have closed the trade. I am in that EURGBP trade with you, toying with a margin call here but at this point it is to far gone to even think about closing it.