As you can see in this image, my trade was closed for a loss because it hits the SL of 0.96648 = -5.93
But if we check this image below what do we see?
The candle didn’t reach the 0.96648 ZONE (the blue line) but hit my TP (the red line)! Is this normal?
I don’t understand why Metatrader just closed my trade for a loss of 5 dollars when I was supposed to be profiting + 50$
Someone see what’s going on? Am I not taking something in consideration?
P.S: I do have capital on my account, the trade closed alone…
You entered at the wrong time of the day when spreads were at their peak level.
Your SL was not hit, you got stop out due to insufficient free margin. (from the look of your previous trades’ commissions paid and your SL price).
You are using a very high leverage.
RECOMMENDATION:
Go back to learning the basics. Don’t rush the process. It will help you a lot.
This is based on my investigations.
Also, if you click on the link, I don’t know how it is going to display because my time zone and yours are different (Yours is EDT, mine is GMT)
Disclaimer: I am not a certified investigator. I just love solving puzzles
That’s exactly what happened. The trade was on my favor and I moved the sl to break even.
Just checked the spread for that time specifically (around 5pm) and it was around 5 (?) This is a lot now that I see
Okay. You get stopped out due to spread then. At least I think so. Because if I calculated from your entry to your TP, it’s only 14.5 pips (Correct me if I’m wrong). When you moved your SL to BE, high spreads stopped you out.
Well, in my opinion, I think it would be best that you avoid EURCHF in general because this pair won’t move so much in terms of pips. If there’s a setup in EURCHF, maybe check EURJPY/EURCAD/EURUSD etc. if it’s also make sense there. In fact, anything pairing with CHF most of the time doesn’t move that much.
If you still wanted to trade EURCHF, before open any trade, please check the pip travel distance for your TP first. If it’s less than 20 pips. Just trade other pair instead. The spread vs volatility of the pair is not worth enough for you to take the risk.
I checked everything you told me and the only conclusion I came to was the spread and the insufficient free margin you talked about…
At the moment, I’m experimenting a broker so I’m using a demo with good capital, that’s why I’m also trading with higher leverage/lot size. Of course, I started with low capital but I was able to increase it and wanted to test higher leverage and how it works. This situation impressed me a bit…
I’m glad I was able to understand this before going to a live!
Thank you for your help!
From your answers I suppose it was a stop due to spreads… I’m going to search more about it.
It’s funny because usually, I don’t trade EUR/(ANY) pairs. It was my first time maybe I’m going to keep away from any EUR pair.
I would like to know more about the behaviour between pairs, do you have any docs or website articles where I can learn about it? I usually trade CAD/JPY / CAD/CHF / AUDUSD
maybe I’m going to keep away from any EUR pair.