Do you like Ea with martingale strategy? - page 2
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If Martingale worked then somebody would have already made all the money in the world and we would be working for him/her.
Another "great idea" along with Martingale is the "strategy" of getting a losing system and reversing sides: when the system says sell, you buy; when the system says buy, you sell. This is another idea that never works.
Martingale the way it is discussed at length at these forum posts has nothing to do with scaling into and out of positions when you have a long time frame and trading with a trend. This makes good sense if you can do it but you have to understand what the market is doing so you don't end up top heavy, meaning your average price is closer and closer to market prices and any minor reversal causes a very quick loss to accumulate.
Trading is a business and not gambling. And even playing Black in Roulette will end up breaking your bank, that is why people play the numbers, they are gambling and like the thrill of the risk and in a reversal quick highs and lows. Making money in forex is patient investing, calculating risk, protecting your positions, standing aside if you aren't confident of the move etc.
But I know I am talking to "the hand." But good luck.
I guess you would need a tight trailing stop to trade with the trend adding positions using martingale - because if you leave the positions open on trend reversal they might float to some heavy DD [as you have said].
I have so far only seen martingale used for counter trend trading.
If you start at .01Lot - You need a very large account balance and a trading pair that has a historically tight trading range - for your account to survive.
Unfortunately As we know any FX pair price can potentially move much further than it has ever moved in it's history - a problem for martingale.
You can add - features in you EA to protect against - price spikes and volatlity which will help make a system safer.
Or obviously have a grid that uses increased position sizes [but not double up - say 50% increase..] which will trade similiar to martingale but can cover larger price movements [but I guess it's not martingale anymore then].
I havent tested but with $3 million - you should be able to cover the largest price movement in FX history with Martingale [.01 start Lot]..?? But I guess you would want a good broker that would honour that massive trade on that huge take profit price retrace... Maybe not a very balanced FX portfolio either.
If u wish to do martingale, do yourself but not v EA.
Use leverage if possible.
Remember your bankroll.