[Discussion] [Wealthmaxxing] Metatrader 4 Users, What Exactly Is Going On Here? (Positive Balance, Negative Profit)

BlkPillPres

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I'm using a demo account to trade, it started off with 50000 AUD

EA_Test.png


I am using expert advisors to trade (on EURUSD currency pair)

My balance keeps going up, but I'm increasingly "in the red" relative to the profits

As my balance goes up, my potential loss of profit (on the right) also goes up

I think its because a lot of the trades are short positions, which I've read leads to a negative investment balance for an asset, and when it depreciates it can be bought back at a lower price

Based on the charts all the short positions are on USD

EA_Test_Short_Positions.png


EA_Test_Long_Positions.png


Basically what I'm trying to confirm is whether the negative profit is only shown because the EA is waiting for the USD to depreciate so it can be bought back?

Also, how long can one "hold a position"?

Can your orders be cancelled and you get forced into having the negative profit taken out of your balance and you go back to square one?

Should I only trade long positions then just to be safe?

@D3X @Transcended Trucel
 
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Zettacel

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I'm not an experienced Metatrader 4 user.
I do have some advice but I don't trust myself, nor do I want to give any advice that could possibly harm your wealthmaxxing potential.
Although, what I will do, is give you a bump.

@D3X @Transcended Trucel
 
Transcended Trucel

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you should ask your broker how long a short position can be held. It varies at times and depends on what's being traded. As for trading only long positions, I feel that's not necessary, as you would be depriving yourself of 50% of opportunities
 
BlkPillPres

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I feel that's not necessary, as you would be depriving yourself of 50% of opportunities
Yeah but I'd get a 100% chance not to randomly kill all of my profits lol, I could also just increase the amount of lots the long position expert advisors order

you should ask your broker how long a short position can be held
I thought it would be no limit, seeing as with the amount of time that has passed (like two weeks) it should have been cancelled by now

Just googled and I think you can hold it indefinitely


There is no time limit on how long a short sale can or cannot be open for. Thus, a short sale is, by default, held indefinitely
 
D3X

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you can hold it indefinitly
 
BlkPillPres

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you can hold it indefinitly
Its very worrying, if not for it I would have started trading immediately next month, but I guess I'll keep testing this demo account for a lot longer now, what if you hold out and a currency just never goes low past the mark where the EA closes the trade, you'd be stuck with that debt and you'd might as well just close the trade and nuke your account before the debt surpasses your balance

Yesterday:
I'm using a demo account to trade, it started off with 50000 AUD
View attachment 283670
Today:
EA_Test_Update.png


As you can see the strategy works, my balance is increasing, but I don't like the looming threat of short positions, the account went up by around $2000 and the negative profit of the account also went up by that amount, so as it stands the strategy would be useless if it continues as is, because I'll basically always be at break even

So I think I'm just going to redo it but only to do long positions, I'll get returns at a slower rate, but at least when I make a loss, I lose instantly, the loss doesn't accumulate into potential debt, and when I win, I win instantly, there's less worry in that

Doing short positions feels a lot more like gambling rather than strategic trading
 
D3X

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Its very worrying, if not for it I would have started trading immediately next month, but I guess I'll keep testing this demo account for a lot longer now, what if you hold out and a currency just never goes low past the mark where the EA closes the trade, you'd be stuck with that debt and you'd might as well just close the trade and nuke your account before the debt surpasses your balance

Yesterday:


Today:
View attachment 284216

As you can see the strategy works, my balance is increasing, but I don't like the looming threat of short positions, the account went up by around $2000 and the negative profit of the account also went up by that amount, so as it stands the strategy would be useless if it continues as is, because I'll basically always be at break even

So I think I'm just going to redo it but only to do long positions, I'll get returns at a slower rate, but at least when I make a loss, I lose instantly, the loss doesn't accumulate into potential debt, and when I win, I win instantly, there's less worry in that

Doing short positions feels a lot more like gambling rather than strategic trading
brah let yo nuts hang loose chill its a demo account :feelskek::feelskek:
 
FastBananaCEO

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@mental_out this kid probably doesn't know what backing and laying on the Betfair exchange is
 
BlkPillPres

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brah let yo nuts hang loose chill its a demo account :feelskek::feelskek:
JFL dude I fucked up, the equity of some of the strategies are shit, that's why this is happening, I'll have to do it over, I can use short and long, but it only works properly if the equity is good
 
D3X

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JFL dude I fucked up, the equity of some of the strategies are shit, that's why this is happening, I'll have to do it over, I can use short and long, but it only works properly if the equity is good
do chu gotta do till you find your own strategy , that's why its a demo to practise the living shit out of it
 
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