not making any pips

[Pullice]

I have been trading for the last week with $1000 and i keep losing, could somebody please help me with the basics of setting up FAP. I am trading eur/usdm1, usd/chf m1 and eur/gbp m1. take profit 35, stop loss 100 and lot at 0.10. please help. I am using metatrader4 and my expert adviser is Forex Auto pilot.

[Alfonzo]

Hi Pullice,

Can't help you myself as I'm new to it as well. Suggest you look in the 'Results' section of this forum and post your settings on there. Plenty of seasoned pros on there to assist!

[mystikdragon7]

I have been trading for the last week with $1000 and i keep losing, could somebody please help me with the basics of setting up FAP. I am trading eur/usdm1, usd/chf m1 and eur/gbp m1. take profit 35, stop loss 100 and lot at 0.10. please help. I am using metatrader4 and my expert adviser is Forex Auto pilot.

First off your lot size is way too big. Try bringing it down to at least .02, but you should start out at .01 while you are learning the system. I personally wouldn't hedge eur/gbp with the other pairs you have trading. Take your stop loss down to zero, with it being set at 100 that's why you're losing all your trades because of your higher lot limit. A lot of us here have our stop loss set to zero and are doing great. You can try bringing your take profit down to at least 20 pips, you might get better results with that. What do you have your max trades set at for each pair?

[Pullice]

If I understand you correctly than max trade is Max order. This is set at 1. When I type 0.01 in lots it still open a trade at 0.10. Which 2 pairs would you suggest hedging (hedge or semi hedge)

[n1ghtnday]

If I understand you correctly than max trade is Max order. This is set at 1. When I type 0.01 in lots it still open a trade at 0.10. Which 2 pairs would you suggest hedging (hedge or semi hedge)

This is because you have a 'mini' account. You need a 'micro' account to be able to trade smaller lot sizes.

-NnD

[Earl]

call your broker...or if it's an demo account just e-mail them and tell them to set you up to be able to trade micro

[Pullice]

can they ban you if you only buy and sell a pip at atime

[Earl]

try it...they make it pretty impossible to do that scalping thingy...

server moves slow...and I bet slower if they notice you're a scalper

[Pullice]

what does leverage mean

[mystikdragon7]

what does leverage mean

Leverage can be beneficial but it can be your worst enemy. 400-1 means that US$1000 can control a $400,000 position say against the EUR. This is great but it also means that even a small move against your position can wipe your account clean. Starting out with a leverage set on your demo account of 1000:1 is pretty good IMO.

[alan]

I moved this thread as it was placed in the wrong category.