Jan 21 2009
Hedging Problems for our Broker
Well trading was going well until an email arrived from our Broker. Working with Scalping software had posed a problem and they were unable to fund hedging on the trades as the time frames were too short. So no more scalping for the time being, but we are allowed to trade long term, so back to a fresh demo account and run some new setup trials.
Pitty, as the trades were going well and we were in a comfortable profit with ForexTurbo.
Had an email a couple of weeks ago offering us a new Forex EA, Auto Scalper. Well it didn’t cost anything so set up another demo account for a run. Just as well, this EA would have sent us broke. It will not run parallel to ForexTurbo and even on its own. It appeared to read the movement the wrong way, going long when all the signs were short, the stop loss and take profit positions are so wide that combined with the wrong position, the losses are staggering unless one intervenes.
First day it lost us about 20% of our account, then managed to recover it over a week or so, before going back to its’ old tricks of going long when the signals were short.
Destined for the recycle bin!
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