Kindly need some help - EA Martingale
Sorry for my terrible language and blurry ideas...tryin to post some pic for graphical identification of my trading ideas...
I've backtested for some of the trading idea called Martingale System..
I'm sorry for those whose really doesn't like every of this trading idea..
...from whut i've saw from every sites that i've explored, this martingale system is REALLY widely known as an "account-blower" system..
Just because the traditional martingale system running on performing some stacking trend-reversal OP..
...also doubling up some lot size...1, 2, 4, 8, 16....most sensible times factor...till their account speaks as a concerts' MC...
My trading idea..may blew sumwhere on any sites...yep...found many of em spokes about martingale...loss...account...double lot size...
Then, i've tried to adjust a bit of the trading ideas...why not stacking on some winning position??
As an example :
GBP/USD...bought at price 1.6337...by taking tp=40 and sl=40...by the date 20 July 2009...lot size 0.1...were surely reach its TP by 40 pips...
3 hours later on 1.6377..staking buy again for 0.1 lot tp=40,sl=40..continues...
until...GBP/USD made its major pullback...
my long position stop...reached SL at 1.6497..by the same 0.1 lot..-40pips...
....for the next position...i've traded 0.2, 1.6497... lots by tp=40 and sl=40, by taking SHORT position..and reached its TP at 1.6457...
.....surely win and covered my last -40pips...
(all traded positions is made by manually-typed SL and TP)
...also tested on GJ for several weeks...
+++Really need some help from sumone who are experienced on MQL language...so i could do anything else...rather than waiting for the GU reaching its TP or SL...
coz i've been tested so many EA's out there...but still triggered on sumthin called 'indicator' to trigger its starting price...but my idea...
1. Doesn't need to use any indicator
2. Just OP on some price...never mind it'll reach SL or TP....but surely i'll stack some lot size if it comes to SL...and open a reverse position...
3. Doesn't need to predict anything...
4. No matter whut TF its going...i'm surely win or loss 40 pips...
...by the time i've realised this...i've started to read e-books for this simple ideas...but still blur...even how to start...:P
(knockin my head several times on the monitor surely wouldn't solve my problem)
.....perhaps someone out there could translate this ideas into EA???
I have tried coding lot of Martingale methods. Unless you have a high probability direction and entry this method will fail. In your example what happens if GBPUSD went down my 40 pips and then went up by 40 pips you will make losses in both the long and short positions.
You are staking on your position when it's winning? That's not Martingale, but it's a good idea.
For your ideas to work, you need to have some sort of strategy to decide whether to buy or sell. You mentioned that for the pullback, you sell. In hindsight, it looks obvious that you sell when it's going down. But there's no guarantee it's going to keep going down. It may be just a brief retracement and then continue going up.
The original Martingale on the other hand does actually have a strategy - it depends on the fact that if you keep betting in the SAME direction, it will come right for you, eventually. Most of the time, that holds true. It's just that on the odd occasion while your mind and your EA are willing to keep betting in the same direction and doubling up, your account balance isn't.
The image is taken by 27th July 2009...the lines is set by 40 pips away gridded starting from the opened price from Monday...
1 = By the first attempt on buying, the price reversed
2 = The minor pullback (retracement) happened at hit SL..by doubling the lot size..OP on SELL GU at 1.6448 tp=1.6408,sl=1.6488
3 = The price hit SL...doubling lot size again...OP BUY GU tp=1.6528, sl=1.6448
4 = The price hit SL again...it just touched it...but its confirmed SL...OP SELL GU by the same tp and sl as step 2...and exactly doubled my lot size...
5 = OP SELL GU at 1.6448 also hit SL at 1.6488...now opened BUY GU at 1.6488...
Noticed its 4 times doubling the lot size opened before...
If u got usd10k account..u could trade by 1usd per pip by this strategy...
1 = u lost usd40
2 = lost usd80
3 = lost usd 160
4 = lost usd 320
5 = by the breakout...u win usd640
Covered your 4 times lost of the OP before...and hit TP at 1.6528 on the next day...
Yes, i've placed my stop SELL at 1.6448 by doubling the usd640...but i've gotta cancel that after GU reached my TP at 1.6528 on 28 July 2009.
The most important part of this strategy...one must stay in loss...until he gets his first win...and his first win would surely covers his loss before...
thats why the opening lot is counted 1, 2, 4, 8, 16, 32....etc...
Keep it simple...but i dont use any 'stupid' term...coz every trader is not stupid...
No indicators and still trading even in big news period...
Staking on losing until first win...
And the next most important subject is Money Management...
I'm sorry if one really doesn't prefer this strategy coz...every trader got their own strategy...do whut u believe...and now we got sumthin to discuss....:)
Sorry for any interruption...seems there's many that i've found who use this type of strategy out there...:)
I'm not eventually tried to copy some of others strategy...
I just found this strategy after some of my readings about Martingale strategy before...and sumhow i found some mistake about it...
Mind back to the +200pips bearish condition NFP report last year on EUR/USD...
and also +400pips bullish condition on GBP/JPY by GDP Report if i'm not mistaken...
....the Eur recovered back to its normal price before the NFP...by the next week...
but the GBP/JPY were continued to their bullish condition until i've stop my sight on forex industry once...
How could Martingale system user on GBP/JPY could profit on bullish condition if they keeps staking and doubling their positions...
Yet i've seen common prediction also got its term of 'lucky' bout their chosen position...dunno bout Elliot Wave coz i've just used it once on my trading...
and the strategy always took long term trading sequence also to spot reversal of wave 2, 3 and 4...
Its a common terms of 'losing period' in forex...but from whut i've seen...90% of traders, just carry the book with their system or strategy...but never took a serious sight about its first and last chapter of the book...emotion and money management...
Lets check out some of my trading journals...manually configured and 24hours market observed...pff..~~
1 = OP sell but suddenly triggered the 2nd BUY on GU
2 = OP BUY GU at 1.6217 because of its spread to obtain the accurate price entry..
3 = 2nd entry hit SL ...loss usd 40
4 = 1st entry hit TP at 1.6137...regain the usd40...OP SELL...this entry was set since the first entry by STOP SELL...
5 = OP SELL tp=1.6057
6 = OP SELL tp = 1.6017
all of this entry was opened by 1 lot...
***the 6th entry reach SL at 1.6097...and now OP BUY at 1.6097 by 2 lot
***the last entry also hit SL at 1.6057...OP SELL at 1.6057 by 4 lot
***last entry also hit SL at 1.6097...now OP BUY at 1.6097 by 8 lot
*** the last entry reach TP at 1.6137....all 7 lot loss covered with addition of 1 lot...
the 40pips gridding is only for GBP/USD to take into consideration...
I'm still on my track on examining EUR/USD price range...it can't be same as GBP/USD...
I've also tried GBP/JPY for 40pips gridding...and it doesn't gives any major problems so far...but once...OP buy and sell were triggered...think i'll be gridding it in 80pips...
by taking its 8pips spread into consideration...
Using this strategy in just one currency pair wouldn't gives much entry to play around...but once i've entered 2 pairs...i have to split out my lot into 2...
as an example if i used 1 lot before...i should've split it into 0.5lot...means by minimum of 80pips a day...with the same profit of 1 lot in 40 pips...:)
You are staking on your position when it's winning? That's not Martingale, but it's a good idea.
For your ideas to work, you need to have some sort of strategy to decide whether to buy or sell. You mentioned that for the pullback, you sell. In hindsight, it looks obvious that you sell when it's going down. But there's no guarantee it's going to keep going down. It may be just a brief retracement and then continue going up.
The original Martingale on the other hand does actually have a strategy - it depends on the fact that if you keep betting in the SAME direction, it will come right for you, eventually. Most of the time, that holds true. It's just that on the odd occasion while your mind and your EA are willing to keep betting in the same direction and doubling up, your account balance isn't.
Couple of comments:
- Money Management strategies (Martingale, Anti-Martingale, homegrown, etc.) will depend on the Signal Generation strategy. With a certain Signal Generation strategy, you will find a certain MM strategy meshes best and is most successful. There is no right or wrong answer across all EAs.
- Martingale is a Money Management strategy which is based upon increasing the stake by some factor (not necessarily doubling) when losing and decreasing the stake by some factor (not necessarily halving) when winning, all the time whilst consistently applying the same Signal Generation strategy (not necessarily applying consecutive trades in the same direction).
CB
Thnx for all of the comments...really appreciates that....:)
I'm not applying for a consecutive winning position by keeping 1 lot 40pips...1 lot 40pips...and continues...
....the reason is i couldn't ever realizes any exact TP for all my positions...:P
all of the conclusions i can't ever be a market predictor...
my fourth picture shows that i've taken sell, sell, sell, and sell...until it went to my sl...:P
and once it hit my sl...thats my first buying position...
the picture with the 6 numbers would reveales the stories behind it....
i'll be more appreciating anyone who intends to share any EA based on this simple idea...coz i couldn't sit in front of my pc frequently anymore for next 6 months...
Since 5 years of trading...i've tested over 1k indicators shared on many websites...and it still gives me a large downtrend of my equities...
and since from that...i just can't say 'no' to any of trader's mind and strategy...its all my fault from my lack of disciplines and emotions...
Really enjoy to receive any comments from others upon my strategy...i'll be back to post my several weekly journals....:)
Since 5 years of trading...i've tested over 1k indicators shared on many websites...and it still gives me a large downtrend of my equities...
and since from that...i just can't say 'no' to any of trader's mind and strategy...its all my fault from my lack of disciplines and emotions...
Really enjoy to receive any comments from others upon my strategy...i'll be back to post my several weekly journals....:)
Don't bother to post your trading journal, it's irrelevant because a martingale strategy can only be profitable if you have an unlimited amount of money.
It doesn't matter which version you use (doubling profits or doubling losses).
It is simply not a good idea in trading. Or in gambling. Or in poker.
Eventually it will bust your account.
If you don't believe me, that's fine with me.
Couple of comments:
- Money Management strategies (Martingale, Anti-Martingale, homegrown, etc.) will depend on the Signal Generation strategy. With a certain Signal Generation strategy, you will find a certain MM strategy meshes best and is most successful. There is no right or wrong answer across all EAs.
- Martingale is a Money Management strategy which is based upon increasing the stake by some factor (not necessarily doubling) when losing and decreasing the stake by some factor (not necessarily halving) when winning, all the time whilst consistently applying the same Signal Generation strategy (not necessarily applying consecutive trades in the same direction).
CB
Martingale is not a money management system - in fact there is absolutely no money management and that is why account balances go bust.
Martingale is based on "doubling" in the sense that the next bet is calculated to cover all the previous losses if the bet pays off, plus a little profit. There is also decreasing of the stakes approach, and that is the "anti" system and is different.
Martingale is based on betting in the same direction with each loss. The only time you can change direction is after a win plus a little profit, and that is when you return to the original bet. There may be other variations, but they wouldn't be called Martingale.
Since 5 years of trading...i've tested over 1k indicators shared on many websites...and it still gives me a large downtrend of my equities...
and since from that...i just can't say 'no' to any of trader's mind and strategy...its all my fault from my lack of disciplines and emotions...
Really enjoy to receive any comments from others upon my strategy...i'll be back to post my several weekly journals....:)
It's difficult to comment on pictures in a chart, because while it may look good for that particular chart, whether it holds true for the long term is another story.
The good thing about an EA is you can program your strategy into code and test it out. If you are a manual trader and journal person, then this may not be the best forum for your approach.
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I've backtested for some of the trading idea called Martingale System..
I'm sorry for those whose really doesn't like every of this trading idea..
...from whut i've saw from every sites that i've explored, this martingale system is REALLY widely known as an "account-blower" system..
Just because the traditional martingale system running on performing some stacking trend-reversal OP..
...also doubling up some lot size...1, 2, 4, 8, 16....most sensible times factor...till their account speaks as a concerts' MC...
My trading idea..may blew sumwhere on any sites...yep...found many of em spokes about martingale...loss...account...double lot size...
Then, i've tried to adjust a bit of the trading ideas...why not stacking on some winning position??
As an example :
GBP/USD...bought at price 1.6337...by taking tp=40 and sl=40...by the date 20 July 2009...lot size 0.1...were surely reach its TP by 40 pips...
3 hours later on 1.6377..staking buy again for 0.1 lot tp=40,sl=40..continues...
until...GBP/USD made its major pullback...
my long position stop...reached SL at 1.6497..by the same 0.1 lot..-40pips...
....for the next position...i've traded 0.2, 1.6497... lots by tp=40 and sl=40, by taking SHORT position..and reached its TP at 1.6457...
.....surely win and covered my last -40pips...
(all traded positions is made by manually-typed SL and TP)
...also tested on GJ for several weeks...
+++Really need some help from sumone who are experienced on MQL language...so i could do anything else...rather than waiting for the GU reaching its TP or SL...
coz i've been tested so many EA's out there...but still triggered on sumthin called 'indicator' to trigger its starting price...but my idea...
1. Doesn't need to use any indicator
2. Just OP on some price...never mind it'll reach SL or TP....but surely i'll stack some lot size if it comes to SL...and open a reverse position...
3. Doesn't need to predict anything...
4. No matter whut TF its going...i'm surely win or loss 40 pips...
...by the time i've realised this...i've started to read e-books for this simple ideas...but still blur...even how to start...:P
(knockin my head several times on the monitor surely wouldn't solve my problem)
.....perhaps someone out there could translate this ideas into EA???