EXPERIENCED FOREX TRADERS/EA PROGRAMMERS PLEASE LOOK!!! is a 50%+ portfolio in only 5 days possible? This seems too good to be true... - page 3
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Thanks ukt...your "strategy" seems most logical. I will take your advice and not waste any more time on "martingales".
Cheers
Shayne
Shayne, like you, me and probably 99.99999...% of people who look at a chart and that at least know the basics of what the bare price movement is showing in say candle form, can always see the great moves - all over the darn place, sound familiar? Not matter what chart, time frame, symbol or market...
Every day goes by, I get 'blown away' by seeing these price moves all over the place. Then, along comes a method of money management like martingale that offers the universe - but at an horrific price should the 'martingale boogie' come to town - lol. Couple that with automatic trading and is near a dead cert as ever was that wipeout will follow.
Oh yes, I bet there are some that have managed but the 'death toll' is just not worth it imho.
I sound like a 'downer' and apologize for that but again, I'd rather stand on any street corner and hand out bank notes to 'apparently' needy souls passing by... at least I'd get a few great smiles which make me feel good.
May sound soft in the head, but I really do ache for people wanting to make it in financial trading. Their reasons for wanting to 'make it' must for some, be totally heart rendering and here they are... having landed on the fx money making bus and all to soon get sucked into the 'visions' of a quick buck and life on easy street...
We can all, I am sure, write all to familiar and similar endings to above - I've been 10 years now and my eyes still gleam with amazement when look at the charts. Is hard not to I think.
My take on fx as a biz are my antidote to this lure, this easy street idea. Income + Expenses... This 'brain washing' has only recently been adopted yet the effects on myself are massive. I have become more 'responsible' in attitude towards my financial freedom goals. I realize that is up to me 'not to screw up' due to not seeing clearly and getting all starry eyed when the charts (so obvious in hindsite ;) shout to me about just how easy it all is... IF only!
Some I am very sure are just plain smarter/cleverer than me and they indeed do pull fx income to themselves fairly easily. I am learning to 'accept' me... warts 'n all. To realize that ok... maybe got many decades of s/w engineering under belt and this and that - blah, blah... but at end of the day - here I am like everybody else... still! So must be message there somewhere - lol
Yeah - the message is that I still DO NOT GET IT - ROTFL
.
I enclose happiness to all readers... after all, a smile really does generate some real cool endorphins (ya never know! could become habit too ;)
http://www.smileofthedecade.co.uk/
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Well put ukt. I too would like to do this full time one day, but I have a long way to go I think. Till then I am stuck in a corporate vaccuum which is at least tolerable. Its exciting to look at the charts and ponder teh possibilities though.
Cheers
Shayne
"Till then I am stuck in a corporate vaccuum which is at least tolerable."
You are fortunate indeed - please enjoy every minute you are there, at end of day our 'mental mindset' used each moment can indeed make life at any moment "tolerable"
Possibilities... oh yes! is indeed good fun, for me is the reason I keep 'having a go' as they say.
It is most wonderful to have such as MetaQuotes platform offering free demo accounts - over and over and... again - lol
So, yes... is all very exciting and IS possible too!
Regards
Hi folks, I have been testing a multitude of systems (EAs) and after many, many lackluster results and complete failures I have come up with one that is giving solid results. That was quite a challenge. I don't believe in backtesting so I just forward test by letting a demo run in realtime and play the moves that way.
....................
Hi,
I thought I would share with you my thought as an experienced trader.
First of all, I believe EAs are the way to go compare to discretionary trading due to the pressure and many other factors. But let me go straight to the point here with your EA. I honestly think it is very difficult to find a very consistent EA over the ... years and here you are talking about a 2 DAYS period!!! With leverage and some luck anybody can write an EA that can return 50, 100% in 2 days, no problem at all but a system has to be robust on a longer term.
163 trades in 2 days using Martingale on a small account, I am positive it is going to blow out sooner than later, reason being that it enters the market way too often, and I am assuming it is doubling up way too often as well and this rings the bell of danger for big market moves. Now, I don't know your goal with the money you're playing. If you don't really care then you can try to double up, put your first investment on the side and risk the "house money", if not you may regret it very very soon.
I think Martingale can work if you got very very deep pockets (and I mean very deep, something that can let you use an institutional broker where spreads are less a factor) and even with that you want to be, quoting the old owner of a well known hedge fund that blew out in late 90's (LTCM), you want to be a giant vacuum and don't want to be too greedy otherwise even with deep pocket you'll end up facing liquidity issue as well.
If you want to discuss more about that, latiz01 at yahoo dot com... and maybe I can take a look at your code and help you out too.
Cheers.
A quick update folks. I let one instance of this EA run using .01 lots on a Micro Account. (I was originally using .1 lots and the account got killed). After one month it yielded a 25% total return with no margin call or account implosion. Obviously reducing the bet to 1/10th of the origianl psoition sizing allows you many more "double downs" so I will keep forward testing for a few months. A martingale system may do OK if the two things are practiced...
A.) You bet with very small lot sizes
B.) You have deep pockets to add money if you need to.
Too early to tell but I would take a 25% return a month any day.
Cheers
Shayne
A quick update folks. I let one instance of this EA run using .01 lots on a Micro Account. (I was originally using .1 lots and the account got killed). After one month it yielded a 25% total return with no margin call or account implosion. Obviously reducing the bet to 1/10th of the origianl psoition sizing allows you many more "double downs" so I will keep forward testing for a few months. A martingale system may do OK if the two things are practiced...
A.) You bet with very small lot sizes
B.) You have deep pockets to add money if you need to.
Too early to tell but I would take a 25% return a month any day.
Cheers
Shayne
sequity wrote >>A quick update folks. I let one instance of this EA run using .01 lots on a Micro Account. (I was originally using .1 lots and the account got killed). After one month it yielded a 25% total return with no margin call or account implosion. Obviously reducing the bet to 1/10th of the origianl psoition sizing allows you many more "double downs" so I will keep forward testing for a few months. A martingale system may do OK if the two things are practiced...
A.) You bet with very small lot sizes
B.) You have deep pockets to add money if you need to.
Too early to tell but I would take a 25% return a month any day.
Cheersit ...
Shayne
Hello sequity can you forward this so i can test as well and see,try and help with it,this is my email jeffhonfor@yahoo.com i will be expecting....
yes - in all seriousness, do not use it and your deposit will thank you for this simple strategy.
Martingale has built in danger - it was birthed for gambling - financial trading should be considered a business - serious businesses do not gamble - they have expenses and income...
Please do consider chasing income in a less risky way...
try coding the ea with a "max loss per day" feature, this will limit the maximum number of loosing trades in a day, 1 or 2 etc.
thanks,forex9
try coding the ea with a "max loss per day" feature, this will limit the maximum number of loosing trades in a day, 1 or 2 etc.
thanks,forex9
That won't really work for Martingale. The whole reason why Martingale fails is that you're risking X^Y units just to one a single unit. So, even with a "max loss" feature, you're going to simply end up in a massive hole. Granted, you'll stop the bleeding, but do you really want to get down 10 units (or whatever) before doing that?