eToro – Forex Trading Forum

[usmpsgt]

A few days ago I decided to get a Demo account and play around with Forex. I ended up here at etoro and have been having a great time. I don't understand how you could go into the market for a longer term though. My normal trade looks something like this:

EURUSD Amount:100 Stop Loss:-50 Take Profit:+100 Risk Level:x100

Because of market fluctuations most trades hit the stop loss instead of the take profit even when they do well. The trade might climb to a +95% gain then drop back down to the stop loss. I even tried taking two trades at the exact same time where they were opposite positions on the same pair. Obviously one pair gains and the other looses. However, usually the loosing pair hits the stop loss, then the winning pair starts coming back down and eventually hits its stop loss as well.

I find myself scalping which so far is a profitable venture but would like to have more options available. I am wondering if I need to set my stop loss and take profit higher? I read somewhere that a 30 pip spread was good for most trades.