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Leave it to the ROBOT / Suspect losses???

Discussion in 'General Forex Talk' started by Codammanus-2014, May 6, 2010.

  1. Codammanus-2014

    Codammanus-2014 Recruit

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    Greetings to all, and thank you for this informative place!

    I am a bit anxious to share my recent experience, so mods, if I mess up (rules) please kindly move, excuse, remove. I wanted to post my findings with a certain robot, settings that I got for free with the bot, and a broker that is reportedly honest, but I swear something is fishy. Or so it seems. Probably, I just didn't know what i was doing.

    So, I have included a few screenshots to illustrate my adventure. I stared with $500 and then dropped in another $200, which with this particular broker, I loss some cash to paypal. I was on a role with the bot (FapTurbo) and as you can see, things were going good. I was actually up about $90-$100 dollars in a matter of days. I was happy.

    Then came a huge loss of about $82.00. I decided to see what I could do on my own. (I could not do worse right???). I also wanted to test what I was learning about forex overall. Information is best understood (in my experience) once it is applied, whether there are mistakes that occur or not.

    I was doing some really impressive maneuvers (which some may call beginner's luck) until I made a bad move and lost a lot of money. The only thing is that the MT4 seemed to do it for me. Close my deals without my say so. Then I went back and checked what I knew about S/L and T/P and also find out something interesting about a phenomena known as "Stop loss hunting" and market manipulation. I think, I think I was a victim of this, but I won't be hasty.

    All replies and comments welcome. See the screenshots for more info.

    As of the writing of this post, my account which started at $682 is now at $309. It was at $790 at the highest point.


    So, it has been very much a rollercoaster of education in the school of hard-knocks. My wife warned me when I started tinkering with the machine. "Leave it alone sweetie. Let the ROBOT DO IT." Should have listened to my wife!!!!

    Oh, and it is easier for me to relate in my home currency USD as opposed to pips, points, etc. (Maybe that's the problem)???

    Thanks,

    Coda.

    "For stop-loss hunting to occur, the financial institutions will need to buy (or sell) a large volume of currency before prices can move in the direction that the institutional traders want them to."

    something is fishy in my opinion. The same thing "mystery loss" just happened again. I'm going to let FapTurbo slowly make back my money. This sucks.

    "Stop loss hunting is one of the ways they use to do that. They have some special robots or hire and train some employees who monitor the clients trades. When a client takes a position and sets a stop loss and the market goes against the position and becomes so close to the stop loss, the robot or the stop loss hunter employee increases the spread manually to help the market hit the stop loss sooner."
     

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    #1 Codammanus-2014, May 6, 2010
    Last edited: May 6, 2010
  2. Forexwatchman

    Forexwatchman Sergeant

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    My friend, you have experienced the dreaded margin call! .25 lots are WAY to big for your account size, reduce your lots to no more than .05. Study up on Money Management, margin, leverage, fading out winning trades (not closing the entire lot but rather portions of it as you go into profit). From my brief view of your account history, you look to be scalping, going for 10 to 20 pips, in which case bigger lots are required to pump out a decent amount of profit BUT that can be very hard to learn and apply early into your education. I too once owned FAPTurbo and credit it with only one good thing and that's getting me involved in forex trading for myself. Otherwise it's a waste of your time. This is a lesson most all newbie traders learn early on, so you aren't alone. But you do have a lot to learn and don't need to waste real money like that, curb your lot size and focus on entry, risk/reward, and educating yourself first, the profits will take care of themselves in the future.
     
  3. Codammanus-2014

    Codammanus-2014 Recruit

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    Aha! Margin call!!

    Ok,

    Thought that wierd commentary on the left side of my terminal with percentages meant something like that.

    can you explain this:

    every time I buy USDCAD sell or buy, rather, it shoots up or down to shake me out??? 1.0482 at purchase to 1.0543 in about a minute flat?????

    Happens every time. (And I do mean EVERY TIME). Not with the bot though. I still think that is fishy. Really.

    YEAH,

    Scalping is the thing. I like scalping!!! But I will let the bot Scalp for me from here one in. That's after this losing trade....or maybe the price will go down to where it is supposed to be. NORMAL! for this pair.

    Thanks a million!!!!

    I must say, FabTurbo did me good that first week. REAL GOOD. And I used Jim Phillips settings (where I bought the bot). Not advertising, I just took a chance. Should have let the bot do it's job even after that $80 loss. it was steady. That's the skinny, unbiased, unfiltered, and without promoting any particular source, broker, EA, etc.

    Just my experience. I'm selling my watches on ebay to put more money in to cover what I lost. (Why do I feel like a gambler???)

    Ok,

    FapT from here on in. I'm listening to the wife, from whom I must keep this loss hidden. Already confessed about $200 lost. Can't confess again.

    Later. And thanks for all of your input and future input. This is a GREAT RESOURCE!!!!
     
  4. Forexwatchman

    Forexwatchman Sergeant

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    Well if scalping is your method of choice, then it sounds like your broker isn't going to be the right fit for you. Moves like shouldn't occur every time like you were saying, rather only during news events or volatile levels of price action where numerous large stop orders are placed or where a major line of support/resistance is located. I've heard of some brokers manipulating the price action that appears on your MT4 feed in order to persuade you out of a recent trade, but have not experienced that myself. I use two or more separate feed sources everyday to ensure that such manipulation is not taking place. In other words, I use two or more separate sources for gauging how price action has moved and is currently moving although it's the broker's feed that I actually trade off of. If I see large differences in prices (which I very rarely do) I would bring it up immediately with my broker. But that has never been the case... so far.

    I would recommend trying that method out and seeing if price fluctuates more on your broker's feed than on a separate feed and if that's the case move to a new broker. Don't even give them a chance to explain all the ways that such moves might be happening.
     

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