Yes, it’s a loss if there is a minus sign.
Note in my own backtesting system I usually adjust the pips to balance them to the EUR/USD to be able to evalute the gains.
However, here the talk seems to just be pure pips, so I posted the pure result. You may get different results, depending on your account spreads, costs etc.
Regarding the gamble:
My system allows me to specify X number of random trades for the tested period. So if during a backtest a strategy makes 500 trades, I can ask the system to make 500 random trades in the same period, using the same SL/TP strategy as whatever is being tested.
The reason to this is to understand how good a strategy is vs just randomly trading.
In the case above it was no better, and in fact often worse.
The random testing has proved on of the most valuable things to me.
To give you a plain example:
Everyone, really almost everyone seems to state that you must trade in the direction of the trend - so Buy when above the EMA200 or the EMA 200, 100, 50 are aligned or something similar.
When I fix the random trader to only trade in the ‘direction of the trend’ as everyone says, the result is always much worse.
So whenever I see a new indicator or strategy I always use the random tester as a base like this.
Long winded answer, HTH