Which is the best EA style martingale?

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tks

tks MRV!

tks for contribution...

XneoenX

 

I like Terminator and trade it live. I start with 1 mini lot and add more every 40 pips against my trade. I use 50 pips take profit. The pips to add for each entry are as follows

1,2,3,5,8,11,13

I have never had to go beyond 8, and the trade makes more money if it goes to 3 or 5.

The key is have a large enough acct. I have $7K right now and can safely trade up to 4 pairs at a time. I make about $1200 per month.

Also my entry method is different from thos available in the original Terminator. It is simply RSI>70, sell, RSI<30, buy. This works on 1HR time frame only. I do not trade it automatically, but will set up the orders manually. When I enter a buy, for instance, EURUSD at 1.3500, I set take profit at 1.3550, and then two more orders, buy 2 EURUSD at 1.3460 TP 1.3510, and buy 3 EURUSD at 1.3420 TP 1.3470.

If the order gets hit at 1.3460, then I modify the original lot TP to 1.3510, and if the third hits, I modify the others to its TP, and so on.

HAs been working great for me the last 2 months

 
mrv:
There are some things about martingale:

1. Pipstep and Takeprofit are the main profit adjusters. The lower pipstep and tp, the bigger the profit, and also the greater probability of going bust. The higher pipstep and tp, the less risk and the less profit.

mrv, I'm trying to understand the relationship between pipstep and TP.... what happens when you have a small pipstep large TP, or large pipstep small TP, or when they're even.... any other info you can give about the relationship between the two would be appreciated!

 

if you found it, send me a pm

Balaise

 
hhsmoney:
mrv, I'm trying to understand the relationship between pipstep and TP.... what happens when you have a small pipstep large TP, or large pipstep small TP, or when they're even.... any other info you can give about the relationship between the two would be appreciated!

If you hit tp with second or further trade, you will have some losing orders which has to be covered. So your tp must be high enough (how high - at least half pipstep, you can check with excel) to cover for losses and give you some profit at every stage.

Also, tp is the only way to get out of a trade. So if your tp is way higher your pipstep, you will need big trend in your direction to get you out, and, at the same time, a relatively small movement against you will put you into big trouble.

I usually use 18 - 25p TPs and 15 - 21p pipsteps for eurusd.

 

There are some things about martingale:

1. Pipstep and Takeprofit are the main profit adjusters. The lower pipstep and tp, the bigger the profit, and also the greater probability of going bust. The higher pipstep and tp, the less risk and the less profit.

2. Different EAs have different entry methods, but I don't think this is important. If we finetune entries, we get just simple EA with no need to double positions. It is volatility, not wrong entry that kills this EA, so if you stay away before news, entries will not matter.

3. Some EAs have different money management (especially loss management) strategies. This could be important, but again - stay away when market is moving wildly, and you should be fine.

4. The most important thing, when using martingale EAs in live trading: there is no such thing as too much capital. Allow at least 3000$ for one pair starting from 0.01 lot.

5. Remember - forex trading is not a contest who will make 100% first. It is rather who still will be alive and trading in 3 years time.

 

What about that V1+V2 blessing fifth element lol

That seems to have some good live profits?

The martingale thing itself is risky but it seems they way they use it has a hedging thing to limit drawdowns.

 
kjhfdgjfhdghdf:
What about that V1+V2 blessing fifth element lol

That seems to have some good live profits?

The martingale thing itself is risky but it seems they way they use it has a hedging thing to limit drawdowns.

I won't be using the Bless type martingale strategies for EURUSD after the last week. I'm optomizing and making some changes to the EA to slow down the grid size as trending markets occur, strictly on EURGBP though. Means less profits, but far far safer.

Though if we still look at a backtest on the EURGBP there is two times in the last 7 years that it reaches down to level 10. If you had enough capital in your account you would have been able to ride it out, but that takes a great deal of capital still.

 
drgoodvibe:
I won't be using the Bless type martingale strategies for EURUSD after the last week. I'm optomizing and making some changes to the EA to slow down the grid size as trending markets occur, strictly on EURGBP though. Means less profits, but far far safer. Though if we still look at a backtest on the EURGBP there is two times in the last 7 years that it reaches down to level 10. If you had enough capital in your account you would have been able to ride it out, but that takes a great deal of capital still.

From my demo expierence with eurgbp I would not choose this pair. Yes, its volatility is very low, but when it starts moving, it moves without retraces. So you need quite big pipstep compared to its ATR, and profit is minimal. After friday's moves (might be another Black friday for all martingalers ) I still would trade eurusd, but with stop after last increment. And also I would use some EA that is not in the market 100% of time. After seeing a move like that you start to love those small things, like sl and out of the market position

 
mrv:
From my demo expierence with eurgbp I would not choose this pair. Yes, its volatility is very low, but when it starts moving, it moves without retraces. So you need quite big pipstep compared to its ATR, and profit is minimal. After friday's moves (might be another Black friday for all martingalers ) I still would trade eurusd, but with stop after last increment. And also I would use some EA that is not in the market 100% of time. After seeing a move like that you start to love those small things, like sl and out of the market position

Last Friday was the the Golden Friday that many MT4 casino brokers were awaiting,....Plenty of free money for their pockets.

As people continue overleveraging their live accounts to get 20% to 100% of monthly profit using martingales, MT4 brokers are well supported.................

Last movement was not a Black Friday for martingale because that movement had a big retracement. I was a black Friday for overleverage accounts only.

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