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Gambling or an edge............
Both posted EA`s trade on random signals and comprise a trading methodology and not an indicator based system, since the past has proven that even sophisticated indicators do not save an account.
my simple question is............where is the edge?
If your only edge is based on a market reversal at some point, you are in the same pot than roulette gamblers, betting red all the time.
Understand that Martingale gives you NO edge at all and your success is based on picking the right ranging pair until the account blows up.
If it lasts long enough and you withdraw your money all the time, your edge might be that the ranging condition lasts longer than the time until the account dies and you have withdrawn all your initial equity + X.(profit).
With proper account size= 10-15k USD per pair(i.E EUR/USD, EUR/GBP), starting with 0.01 lots= 100 currency units in a mini account, you need around 30-50 Months to reach 1:1 ratio!
Now go and figure for yourself about this martingale based trading.
Janus
This one was opened before the big movement and survived. Let's wait for the retracement or the same will hapen to this one.
Solution
Gents i think i have reached a nice solution for this Martingale thingy , those who are interested please PM and will discuss this in private to maintain the idea integrity while those not interested we wont cause them headache .
Regards.
Janus is right. However I think few would try it long enough on a live account (perhaps they are not so naive).
add "maximum loss" parameter
What I did is to add "maximum loss" to the code of the martingale system I use.
For example, I have 3000$ in my account and I put "maximum loss" of 1250$ .
Then, when I get to a certain level, the system put "stop loss" and if it reaches this stop, I loose my 1250$.
In this way I expect a few losses in the future, but it will not blow my account. I expect to make a profit of at 3000$ till my next loss of 1250$ comes.
jojo
How is it doing?
Dear Friends,
Can anyone who is testing this EA tell me if it survived through this last Run?
My EA got stopped out!! Did this one survive ?? all the way through this last push down??? in Euro
Thanks
This one was opened before the big movement and survived. Let's wait for the retracement or the same will hapen to this one.
There it goes.
gentlemen,
main reason of system failure here is a bad money management. Lot of traders forget during a raging trade that system has from 7 to 10 levels. When you open poistions on first level check that you have enogh money on your account when market price reaches 10th level.
There it goes.
A fresh new start
Gents i think i have reached a nice solution for this Martingale thingy , those who are interested please PM and will discuss this in private to maintain the idea integrity while those not interested we wont cause them headache . Regards.
I sent you a PM days ago. Hope I can hear from you.