I guess it reboots the console/reloads to system menu ?
there are two possibilities :
1. you don't have IOS58 installed on your console. most homebrew and channels are based on that IOS. If you miss it,
you can manually install it. it's not the latest version, but it works.
2. the homebrew is not located at the right location on your SD or USB. The forwarder looks at : sd:/apps/usbloader_gx/, then sd:/apps/usbloadergx/, then USB partition1 to 8, both folders every time. after reaching partition 8 and not finding a dol on all these path, the forwarder reloads the system menu.