50 pips with GBP/USD, without any indicators - page 3
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hey la_maya_k:
Just curious.
is there any special reason that you put TP 50? why not 60 or 120? thanks.Well, I feel 50 pips is reasonable to ask from the cable market, if you look at how much GBPUSD would move in a day. Surely you can ask for 120 pips, but that happens less often than a 50 pip move.
hi, is this system still going? are you still using it? i would be interested to heard your results and any modifications you may have made. by my calculations; if you start with a risk of 1%, then the next day go to 1.5%, then the next day go to 1.5 times that (2.25%) and so on you can go up to 12 days without losing the account (losses exceed 100% on the 13th day). even if this seems unlikely, surely it can happen from time to time?
actually, its worse than that. due to the level of free margin required by your broker, you would have insufficient funds to place a trade by the ninth day of consecutive losses (due to account size dwindling plus trying to place larger and larger lots each time). after looking back over the GBP/USD chart for the last six months, the most losses encountered were 7 in a row, which isnt quite enough to bankrupt the account, but dangerously close, so nine or even ten in a row is surely inevitable at some point? This is the problem with martingale strategies (or even "semi-martingale" as you put it), its only a matter of time until one day you will encounter a bad patch that loses everything, whether its today or ten years from now, you will back to zero. If youve been lucky and made your millions by then, thats one thing, but I would hazard a guess that a bad patch would happen at least once or twice a year perhaps.