Virtual Trading - martingale solution - page 6
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156,
your absolutely correct that forex is a psychological battle, i like to call it internal control as by dr. van tharp, so you want to get to the nitty gritty of martingaling and forex?? no problem, i hope your up for some study and you'd better be a superb programmer or pay someone to do it, to convert the tools into MT4......
we can start from the ground up and build this together and i'll help everyone here as much as i can....im sure we have enough brain power here to put something special together on this forum....im not going to give anyone my EA but im certainly going to point everyone in the right direction, so ask some specific questions and we'll get cracking.....phreakwell I am not sure what EA you have, so it is kind of hard to ask specific questions, but let's start from there ( I see I can post links here) so here is a very brief and easy to understand application of martingale in forex:
Forex: FX Trading The Martingale Way
So any comments ...
I recently met a guy, very smart one ... in his point of view there are 3 types of traders - 1 - optimists - they use the trend, 2 - pesimists - they use martingale and 3 - losers
I was very interested in this theory of his and that's why I actually started researching and reading on martingale, because maybe I thought I could be pesimistic optimist?
Share your view,
Regards!
156,
i have a martingale and grid EA based on the tools i use that i have mentioned, i also trade a great position sizing system that i do manually...the link that you have there i have read a long time ago and is very simplistic in nature in what she describes, what kind of specific questions in particular about the martingale do you have in mind, as far as your smart friend goes in my book there are only winners and losers....period
.......phreak
well I am not sure what EA you have, so it is kind of hard to ask specific questions, but let's start from there ( I see I can post links here) so here is a very brief and easy to understand application of martingale in forex:
Forex: FX Trading The Martingale Way
So any comments ...
I recently met a guy, very smart one ... in his point of view there are 3 types of traders - 1 - optimists - they use the trend, 2 - pesimists - they use martingale and 3 - losers
I was very interested in this theory of his and that's why I actually started researching and reading on martingale, because maybe I thought I could be pesimistic optimist?
Share your view,
Regards!I'm a fan of Van Tharp as well.
As you say, cutting losers and letting winners run, that's my mode of operation. Obviously, this means to find trend and stick with it.
But I'm also interested in a semi-martingale or cost averaging system, with stops of course, that I can play on reversals.
Van Tharp is the best, when it comes to trading and modelling the best traders in the world there's nobody like him, he's transformed my trading and internal control1000%, because of him i devolped a manual trading system based on " cutting your losses short and letting your winners ride" along with scaling in philosophy that letting me bring in over 1000 pips every month.....if there is anything i can help you with ask me here or pm me.......phreak
I'm a fan of Van Tharp as well.
As you say, cutting losers and letting winners run, that's my mode of operation. Obviously, this means to find trend and stick with it.
But I'm also interested in a semi-martingale or cost averaging system, with stops of course, that I can play on reversals.156, i have a martingale and grid EA based on the tools i use that i have mentioned, i also trade a great position sizing system that i do manually...the link that you have there i have read a long time ago and is very simplistic in nature in what she describes, what kind of specific questions in particular about the martingale do you have in mind, as far as your smart friend goes in my book there are only winners and losers....period
what do you think martingale must be used for? What is its role in successful trading? Increasing profits or reducing losses? Maybe both of them?
1-to make lots of money if you know how to construct it
2-something different that works with different tools that most are not accustomed to
3-increasing profits.......thats why we are here of course......phreak
what do you think martingale must be used for? What is its role in successful trading? Increasing profits or reducing losses? Maybe both of them?
omelette,
I modified the expert you posted, it trades less but it wont blow the account now, and the DD should be much less
try it on EURUSD 15 min
Here is another two setups , those ones will trade more than the previous one, so should be mroe money
I can't agree more, you are right a SL is a must in any system, I have inculded a hidden SL which is at leavel 7 but my trades start at level 4 so its not that big, on the backtest the SL never been hit but still I will need to confirm that as my backtest skills are not that good
The other approach is to scale in and I like this approach I have seen it on some experts and I like it, I am testing both ideas and so far they both work, I am waiting a big move to see the impact on the setup and how bad it would be , I add some equity protection but also I am not sure of my code ... so more and more tests till we reach the prefect setup
The concept of adding to winners is not adding lots to your losers, it is actually adding lots as the trade goes in your favor. But I understand what you are saying, your cost averaging type martingale is valid. You must be an expert of your system, and apply every time, so it becomes part of your system analysis.
But do keep the same stops for each added lot? Or do you stagger out the stops for each added lot?
The problem with your logic is that if you are correct on your initial trade, and the trade does not retrace, you are not in the trade with your full trade lot, thus your system is based on a retrace after your entry to maximize your profit. I'm certainly no fan of that, but everyone has their own taste.Pipperoni ,
I just wanted to add that at the 4th level the martingle starts,
This is an example of a live trade on USDJAP
its based on the previous move ... I have something also for EURUSD and GBPUSD and the winning ratio is higher even though I am not using any martingle yet , all I am doing is to enter counter the big moves