I have always known the term "martingale" for betting strategy referring to "doubling your bet after each loss until a win"
Here is the wikipedia version:
Martingale (betting system) - Wikipedia, the free encyclopedia
Keep up the good work Wolfe, I can't wait for lot sizing depending on capital % set via an external variable.
Yes I like it too, I am also thinking at:
- Positive progression
- Positive modified martingale
- Positive progressive Lot sizing
- Positive progression Martingale lot sizing
- Positive progression modified Martingale lot sizing
Now that I am up to speed can the moderator just delete all these posts and give this poor thread author his thread back
what do you guys think?
It's not my creation - this is the phrase I have often seen used to describe it...
I agree with your final post about 'uncluttering' the thread though - if a moderator would be so kind...
this is the exact EA that I have been looking... you are a god send!!!
thank you very much!
could you please do me a favour and modify the code to do the following, as I see everything else is in place.
1. i want the ea to have a start time and a end time, so the ea starts at a specific time and closes all trades at a specific time and true or false feature to use this feature.
2. based on the TP and SL the order is gone in the direction of E/MA that you already have in place, but say if the TP hit, then the EA closes off and shutdowns for the day, if you are using the timeframe feature set to true, then the EA starts again tomorrow at that time and does all the same again. If you do not hit TP and hit SL, then the order via MM that you already have, lot size doubles and the trade goes in the direction the EA got stopped out based on the first trade SL and TP again and it does this until either MAX TRADE hit or end time or TP hit and then the EA closes down and starts again tomorrow.
this is what i think works, I have been back testing and if correctly used, this will win most of the time.
if you could do this, i hope... then thank you much!!!!
-User decides initial trade direction (let's say long) and starting lot size (say .1 lot)
-New position would be added every time the market moves x pips (say 10 pips) up or down away from the most recent position taken. If market moves up from the original position 10 pips a new long is added. If the market moves down 10 pips from the last position a short is added (basically following the market looking to catch a trend in either direction).
-Each new position size increased by x (ex: .1 lot)
-Take profit based on account %
-Stop loss based on account %
-Max number of standard lots before EA can't taken any new positions (at this point the T/P or S/L will need to be hit when max is reached)
-Re-enter mode would start a new progression again once the prior progression has ended do to T/P or S/L being hit
-Magic number to run on multiple pairs
I did my best to code such an EA.
The expert I made uses a .mqh file that must be saved in your include folder.
The expert WILL NOT function without it.
All are welcome to critique or improve the code I wrote. PLEASE read ALL the comments in the code to understand the external variables. Default settings are just a guess, testing and optimization needs to be performed.
I'm not sure if this strategy is viable, these type of experts can get you into trouble quick! So use for testing only!
The EA starts by using a EMA for initial long or short starting direction. Just an idea. Maybe someone has a better idea?
Don't worry, I enjoy reading all discussion.
Maybe Martingale EA was a bad name for the thread. Modified Martingale would have fit better. Glad to create so much controversy.
Thank you to everyone for all your ideas and input to better the EA. You all have some great ideas.
When I get a chance I'll try to add all the great ideas to the EA. Anyone who feels they can better the EA is more than welcome.
Everyone has their own ideas as to what would make this a better EA. What I'm going to attempt to do is try to add all the ideas, and the user can decide how they want their "modified martingale" set up.
Should make for one long list of external variables.
If I could enter in the high to enter and the low to enter and let the price decide which side to start...this would be an EA that I might take live and test in forward testing with your permission...
I'll add that option. Should have within a few days.
No permission needed, just remember I never claimed this EA would actually work and be profitable. So, USE AT YOUR OWN RISK!
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