Which is the best EA style martingale? - page 2
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Last Friday was the the Golden Friday that many MT4 casino brokers were awaiting,....Plenty of free money for their pockets
Well, this is another proof of relativity theory: black or golden, everything depends on on which counter side you stand
Friday just finished what started on wednesday. My charts shows eurusd move from 1.3530 to 1.3330 - 1.3360 with no significant retraces. How many martingalers had sufficient pipstep, maxtrades, and, most important, enough capital to survive this? If you have maxtrades at reasonable 5 or 6, you need something around 40 as a pipstep, and your tp should be more, and you would need at least 50p bounce to close. Instead today we touched 1.3260, which did not help at all
So everyone running these beasts (especially on live accs) now has plenty to think about.
Now I have a way better understanding why some people constantly tell everyone: do not use this as your main way of trading. If you want to martingale properly, your returns will be something like 0.1% - 0.5% a month. It hurts to watch all this unused margin, that could earn money. So you have to use something else in those quiet periods, but be ready to free up when need arises.
Well, this is another proof of relativity theory: black or golden, everything depends on on which counter side you stand
Friday just finished what started on wednesday. My charts shows eurusd move from 1.3530 to 1.3330 - 1.3360 with no significant retraces. How many martingalers had sufficient pipstep, maxtrades, and, most important, enough capital to survive this? If you have maxtrades at reasonable 5 or 6, you need something around 40 as a pipstep, and your tp should be more, and you would need at least 50p bounce to close. Instead today we touched 1.3260, which did not help at all
So everyone running these beasts (especially on live accs) now has plenty to think about.
Now I have a way better understanding why some people constantly tell everyone: do not use this as your main way of trading. If you want to martingale properly, your returns will be something like 0.1% - 0.5% a month. It hurts to watch all this unused margin, that could earn money. So you have to use something else in those quiet periods, but be ready to free up when need arises.My friend, I didn't run Martingale EAs on live accounts and Friday but I did on demo, underleverage demo accounts ended fine, overleverage accounts blew.
My charts show a low of 1.3320 and a retracement up to 1.3368 that's is 48 pips of retracement assuming spread loss we can talk about 40 pips retracement.
If that retracement is not enough to close in profit you should close it anyway at loss before the end of the day. Why ? There is at least 85% of probability that on Sunday or Monday the situation can be worst.
Running a martingale on Friday is a wrong idea because the lack of liquidity in the market can make big movements without strong levels of support or resistance, but if you were running it anyway you should know that at the end of any Friday with a strong movement there is a inevitable pullback at the end of the Day caused by the big traders closing their winning positions, big trades don't let their positions open during the weekend. That's why trading pattens completed during the End of Friday are failed patterns.
Example: if there is a double bottom pattern with the last leg formed at the end of Friday, it will be a failed pattern on over 85% of the times. Normally on Sunday and early Monday there is a continuation of the movement started on Friday, unless there is news during the weekend.
On Friday I went long at 1.3335 and closed it at 1.3360 +25 pips
On Sunday I placed a short manually at 1.3360 and I closed it at 1.3340 +20 pips
If you use manual trading to help your martingale those both high probabilities trades would have bring your account to the green line again.
I still use martingale on some accounts but not all the time, maybe few days of the month when I am sure of strong levels of support and resistance, on my main accounts I do only manual trades because I discover time ago that all those high probability trades I did to save the accounts of dangerous martingale drawdown are indeed more profitable an less dangerous than the martingale itself.
Thanks to the drawdown of martingales I learned how to be a better trader, tying to figure how to save those accounts.
We don't need to go to that extreme, most traditional martingales blew the last week, others, blew this week after the accumulated drawndown, others didn't blew because only by luck, they were in the right side before the movement and others didn't blew only thanks the low risk used but they suffered heavy drawdown anyway and they are low risk, low profit.
But I have a systemunder test from several months ago, it didn't suffer those movements, not any of my demousing this system suffered any abnormal drawdown, and it is not by luck, it is system strength. also it is a enough profitable system capable of 20% to 30% of montlhy profit, it work on the 6 or 7 principal pairs because of volume an liquidity
This system was programed by me and retouched by a friend. it show the same performance on backtest with 99% quality(tick data)than it show on live demo accounts. It don't show accounts crash in over 2 years of testing although it hit SL some times but without significant loss, it always recoup fast.
This system is not affected by news. it use a friendly martingale progression because is signal is very accurate, profitable enough without using martingale but we use cost averaging to increase profitability and widen the range of entry.
There is only one problem, this system rely on some high probability trades and it use some custom volume indicators to enter the market. The only problem with that is it don't work fine on many brokers and almost not one real accounts because I found that most brokers use some type of filter and compression on the volume on real accounts, it make false or wrong entries on real accounts, but i don't happen on demo. It work like a chamb on demo accounts of few brokers because of the untouched data feed.
I am in the need of some way of transmit the signals from the indicators running on demo of the best broker datafeed to the system running on live, or send a signal to enter the trade, after that, the system use the price action to exit.(profit target, martingale progression, stoploss or equityloss)
The signal is very specific and should be transmitted fast, a delay will mean a wrong entry.
Probably the best option is use some custom dll or software to link both MT, but it is beyond my coding capability.
Writing a file and read it from the other terminal it's not a viable solution, it introduce an undesirable delay.
This system is private and not for sale, but it will exchange it with anyone who can give a solution of how to transmit the signal from a demo account to a live account.
Also you can get access to others profitable private EAs and strategies.