It is not the Martingale system.
Great insight tho. .
For your curiousity;
The system used in this EA is known by a few names,
D'Alembert or Pyramid.
It is for sale on the internet, although once you know what it is called you can find it for free. (Or just continue reading)
Assume bets of 1 unit, so your loss and your win will be the same value. (It's why this ea calculates SL and TP on static dollar amounts- great stuff really)
1. Lose 1, next bet 2
2. Lose 2, next bet 3
3. Win 3, next bet 2
4. Win 2, next bet 1
voila, start over
Suffice it to say, I've added this to my generic test ea
( 17 indicator setups and variations, 5 possible progressions )
P.S. - I tried not to rant, but I hate misinformation.
I think Tross may be referriing to the "Binary Equation" method (profitsareup.com). If you examine the system carefully you will discover that it indeed is a Martingale in sheep's clothing. It does not abide by the formal D'Alembert progression, but doubles up progressively. I've purchased the system and have backtested it extensively on all the major pairs (lots of time invested). I do not recommend this system. I produces horrific drawdowns and can wipe you out. The author of the system advises to revert to single unit trading after your account hits a certain drawdown percentage.. in practice this does not work.
Binary Equation is not a Martingale
I'm a member of the elite section forum and only get around to checking it once in a while, but I looked today and found this thread.
I'm the author of the Binary Equation Strategy at profitsareup.com and I want to chime in here and state that the Binary Equation Strategy is not a martingale strategy - even in sheeps clothing. The strategy is NOT one of progressive doubling of the lot size.
Although there are strategic places where the lot size is increased, it certainly is not a "doubling" strategy after each loss - which is what the martingale strategy entails.
As to abandoning a series of trades at a predetermined loss limit - this is nothing more than the equivalent of a "stop loss" applied to a series of trades rather than a single trade.
Mike at ProfitsAreUp.com
Could you please let me know the leverage of the initial account ie 1:100 or1:200 and whether it is a mini forex account or a standard account?
Starting with 0.1 lots does not mean much to me without knowing the above information.
With many thanks,
I am planning to forward test this EA seriously. Up to now some other elite members tested it. I just becktested only.
Was this forward tested in the end?
Thanks to remind me about this EA.
any test update for this ea?
I would like to know if there is any test update for this ea...
Sorry, but no update.
Hello, i'm a new trader, i have two question can anyone can help me
1. Who know what system in this EA used, if someone have this system template is wonderful.
2. It didn't work at Alpari Broker's. Someone can tell me how to do???