Lower profit compared to signal provider?

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I have subscribed to a signal. The latest trade opened today was XAUUSD. The provider opened in 0.03 lot size and made £85 profit. Mine opened in 0.01 lot size and made £2.43. 

My leverage is the same as my broker (1:400). Am I missing anything else? Why was the profit much lower? Shouldn’t the profit be 1/3 of what he made since I open in 0.01 compared to 0.03
 
Eleni Anna Branou:

Do you have the same balance?

No but how would my balance affect it. I thought the leverage and lot size would affect the profit 
 
Eleni Anna Branou:

Do you have the same balance?

Trader 0.03 lot size - £85 
Me - 0.01 lot size - £2.50

Both have same leverage
 
momox:
No but how would my balance affect it. I thought the leverage and lot size would affect the profit 

Ah, I just saw what you mean, the less profit has to do with slippage problems between you and signal's provider broker.

XAUUSD is a difficult instrument and has a lot of slippage between brokers.

Do you use the same broker?

 
Eleni Anna Branou:


Different brokers. It’s called gold my broker and XAUUSD on the traders. I checked the faq for signals on MQL5 and it says that XAUUSD and gold are compatible with each other but there might be problems with the volume sizes and slippage 

If I increase my allocation size to 95%, will it give me more buying power. Will the trades be more profitable for me and my account size? 
 
momox:
Different brokers. It’s called gold my broker and XAUUSD on the traders. I checked the faq for signals on MQL5 and it says that XAUUSD and gold are compatible with each other but there might be problems with the volume sizes and slippage 

If I increase my allocation size to 95%, will it give me more buying power. Will the trades be more profitable for me and my account size? 

What allocation do you have set?

If its less than 95% then, there's your reason (among others like slippage between brokers).

 
Eleni Anna Branou:

What allocation do you have set?

If its less than 95% then, there's your reason (among others like slippage between brokers).

Mine was 30% by defualt. If I set it to 95%, I should have more buying power, meaning more profit right?


 
momox:
Mine was 30% by defualt. If I set it to 95%, I should have more buying power, meaning more profit right?



Yes, of course, by setting it to 95% you will get 3 times more profit or losses (don't forget those as well).

 
Eleni Anna Branou:

Yes, of course, by setting it to 95% you will get 3 times more profit or losses (don't forget those as well).

Right ok. I’ll see how the next trade goes. Thanks you for your help. I’m new to automated signals so I was a little confused. :)
 
Eleni Anna Branou:

Yes, of course, by setting it to 95% you will get 3 times more profit or losses (don't forget those as well).

There was a trade opened today. Allocation was set on 95% but I still made a very small profit. The trader made £85 using 0.03 lot size whilst mine made £2.50 on 0.01 lot size. We both have the same leverage. Is there anything I can change. I thought I should get 1/3 of the profit since mine open up in 0.01 instead of 0.03 lot sizes. 
 
momox:
There was a trade opened today. Allocation was set on 95% but I still made a very small profit. The trader made £85 using 0.03 lot size whilst mine made £2.50 on 0.01 lot size. We both have the same leverage. Is there anything I can change. I thought I should get 1/3 of the profit since mine open up in 0.01 instead of 0.03 lot sizes. 

XAUUSD is a difficult instrument and has a lot of slippage between brokers.

Do you use the same broker?

Check the open and close prices of your trades and compare them with those of the signal provider, to see where the problem is (slippage).
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