Martingale variation

[tequila1]

Hi folks, I have been testing this on demo for a while, averaging 1.8% increase in equity daily. I am posting it here to get any feedback from you wiser folks.

It goes like this; Forget indicators, forget charts. forget decision making.

Open a pending order to buy (1 unit) 15 pips above current price, s.l. and t.p. 30 pips.

At the same time open a sell order (1 unit) 15 pips below current price, s.l. and t.p.30 pips. As soon as one is triggered change the other to (3 units). If the first closes for profit then close the other and job done, if it is stopped out then the opposite will be triggered at the same time. You then need to replace the first one with another pending order using the SAME starting price, s.l and t.p. as the original but (6 units). Repeat until profit, doubling each time, and then close all.

IMPORTANT. YOU MUST USE THE SAME PRICES, S.L. AND T.P. THROUGHOUT.

I set this up each morning on euro/$, £/$, $/jpy and £/jpy. all with sound alerts and 20 cents/pip. The thinking is that 1 pair will close on the first bounce, perhaps another on the second, and only one will tease me. The account is circa $4000 so I reckon 1 pairing per 1000$.

Now the clever bits; I have (I think) 1::50 leverage account. On one occasion I tried starting with 5 units and one pair bounced until the margin requirement stopped it and it lost. My account was down just 10% and took just 5/6 days to get back. This is the safety factor.

Comments please before I go live! Tequila1

[[Deleted]]

I coded a similar strategy before. It can work until you get market conditions that really do not go anywhere (range) and keep hitting the SL and triggering more and more trades each time. I would not recommend to multiply by 3 units each time. This is more than even standard martingale which is already very risky. Other than that, if you have enough equity to keep the martingale going a while then it could work simply because of the odds.