Big Profit Without Using Any Indicator - page 16

[tnh_z]

Another one :

[fxnorth]

So you are still only playing one way as I see it?

1. Yes, EA follows the origianl Martingale strategy - double after every loss. Changing it to what you say will make possible number of losses in a row a bit longer but reduce the profit. In general it changes nothing.

So let us say the market decides to fall obviously favoring the sells. Normally Martingale would close the last sell contract, open no more and then keep doubling buys in the hope market will swing.

So this is how you have programmed?

With 'Blessing' it means carrying sells all the way but locking profit every 20 points which in effect softens the blow to huge degree and allows the fall to go a good % further before you run short on margin.

FxNorth

[tnh_z]

Better one for USDCHF :

[tnh_z]

And a setting for USDJPY :

[elepoutre]

timbobo:
1. Yes, EA follows the origianl Martingale strategy - double after every loss. Changing it to what you say will make possible number of losses in a row a bit longer but reduce the profit. In general it changes nothing.

2. EA has no limitations for doubling. It stops doing that only after error with opening order, when it could not make next double (not enough money or limitations for max lot allowed) it resets itself to the first level - to the initial lot size. On graph you can see big drops in balance without return - that's it, reset to initial lot size as EA could not open next doubled order.

3. EA works with 20 points price move, so there is always price for opening order - spread, you take 20 pips move but pay one spread. If you want to see 20 pips profit in results list - just fix TP settings in EA to 20 + spread.

thanks

ok for 2 and 3...

For point 1 - Please read again the original rule in PDF file...

You first open with 1 lot.....then the 2nd level you also take 1 lot (and not 2)...only at the third level you start doubling the number of lots....

[ocm1]

Dear All,

Pls check the EA code, when i re-open MT4 then EA will open double!

thank you

[dabella]

23 vs 20 pips

Reviewing the original PDF i have found an important thing to point out here.

The author gives a table describing the orders he enter long and short. In all orders the "Open Position" and the "TakeProfit" prices ends with the same digit. For example, buy @ 1.7865, TP @ 1.7885.

This seems a move of 20 pips but is instead a 24 pip move (if using 4 pip spread).

If we see the other side of the grid, a short position should be opened @ 1.7881 (if using 4 pip spread) and also a new buy at 1.7885 because we are taking profts from the first buy and opening a new one.

The new long and new short will get executed when bid price hit 1.7881 but the TP will not get executted until BID price hits 1.7885.

So, if bid price goes up to lets say 1.7882 and reverse, we will carry the original long position unclosed all the way back.

That is an extra risk of the strategy.

In the strategy i am testing, i am considering the spread on every step to get all orders of a level executed at the same bid price. Thus, i can't leave 0.1 lots in both first levels. I need to start doubling in the second level and in the 5th level i need to add additional mini lots to cover the spreads.

Possible workarrounds? I have 3 pips in the GBP/USD. A possible solution is to use a 2 pip spread pair or force the grid to make lets say 21 pips per level and not 20, thus virtually reducing the spread 1 point.

The last one is less risky than the original model of playing with 23/24 pips per level.

Any thoughts?

Dan

[Peter Dias]

I did a forward test of the ea, and it opened two trades BUY 0.1lots, SELL 0.1lots.

BUY trade hit tp, but it didnt open level2 SELL.

Also on visual backtest, have noticed the lots are not as per levels posted my rifo.

so the ea is still NOT following the original rules posted by Rifo , calling the system martigale or watever doesnt really proove the system right or wrong, so we need to get the EA do exactly as per the rules posted my Rifo, then only we can decide if the system works or not or if not if it can be improved.

Thanks Rifo for sharing the system, and thanks Tim for attempt to create ea for this system.

Pete

[ocm1]

thanks Rifo

ur system really work!!!!!!!!! hope MT4 programmer create this EA and follow Mr Rifo system rule!

[renefx]

Still Hope for an EA to DO as per Rifo's Idea...

Rifo,

Thanks for sharing your system.

Although the EA don't exactly represents your idea,

i'm still getting nice profit through manual trading

base on your strategy.

It's still too early to have an ea that will do as per

your idea.

I believe the programmer is doing his best to improve the ea.

As I said, it's still early.

Good Expert needs enough time.

We just have to wait.

My best thanks to Timbobo and Rifo.

Wassalam.

Rene