The spreadsheet was originally designed to assist with determining the best order placement and position sizing for an EA that I assisted developing. There has been debate on whether or not martingale or any form of cost averaging can assist traders in becoming more profitable. This is difficult to determine at the level of the mind, since there seems to be a lot of negative points of view towards terms like "martingale", "averaging down" etc. So to help objectively prove that dollar cost averaging strategies, I am releasing the workbook to public. Feedback and discussion of course is appreciated. I would love to hear how the spreadsheet or other similar tool assists traders in using some sort of position sizing. When used wisely can quickly increase equity, without the use of mystic indicators or some exotic recipe. Although it should be noted that, statistically speaking a betting strategy of any kind requires an edge. It does not have to be a large one. But it has to be an edge of some kind in order to consistently multiply profits.
The file format is excel xls, which should be compatible for most people that have access to MS Office 2000 or greater.. There should be no problems importing into Open Office, but no guarantees. There are two spreadsheets in the workbook. The best thing to do is to watch the videos to get up to speed on how to use the excel spreadsheet.
The second-best thing is to just play around with the spreadsheet, only change the cells specified in the videos. Any cell with a formula, do not touch. Save a separate copy of spreadsheet for each pair/scenario you work out and find useful.
note: for nano lot accounts, divide the pip value (F2) and the Exchange rate (F5) by 10. There is a video on this.
Although this spreadsheet will still do the job for many, there is another version of the spreadsheet that is very similar to the one presented, but uses a macro to auto-fill in the rows that you would have to manually type in. It makes testing different strategies much faster and less stressful , and even generates a text file to copy values into Expert Advisor which is the next logical step with a tool like this. This newer version of the spreadsheet will only be made available to those that are subscribed for updates at AwarenessForex.com
update 11/26/2011: new version of spreadsheet adjust the martingale calculator to force 2 digit rounding. metatrader 4/5 only accepts 0.01 as lowest trade lot size #.