Experts: Multi Lot Scalper - page 6
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I took a look at the trades on the chart (MUCH more helpful than simply looking at the equity curve!).
The EA makes a decision on the market. If the market moves away from the forecasted direction, another trade is made in the same direction, up to 4-5 times.
Initial capital has no bearing on the INEVITABLE margin call...
With that said, I had an idea for the "proper" use of this EA...
Alternately, if you can forecast the direction of the Long term trend by other means, force the EA to only go with that trend.
Nice... but how can you code the EA to stop the after the account doubles?
I just using it for a while with a demo account. Working nice, but by the breakouts killing my account /10 000 EUR deposit!/, becouse of his agressive martingale strategy. (click on the link to see the result)
http://s9.postimg.org/ae2v34s8f/Multi_Lot_Scalper_trades_martingale.jpg
Do you have any experience how to slow it?
I tried to set the parameter 'Risk' to 3 instead of 12, but it did not help.
Any idee?
Hi..
in my opinion..this EA should impliment Forex Factory News filter parameter..
and Start & End time for trading parameter..
These parameters are extremely useful and
make a lot less drawdown & losses..
Cheers :)
Martingle strategy in theory works if we have an unlimited deposit, and we can find a pair with ZERO SPREAD. To see why zero spread is important, let's assume the common amount of spread, 2 pips, for EUR/USD pair. Opening positions with base lot sizes: 1, 3, 6, 12, 24, ... will give you a loss even the fourth position reaches take profit! Here is the math behind it:
P(4) = (TP-SP)*(12+3)-(SL+SP)*(6+1)
if TP = 30, SL = 60 and SP=2, then
P(4) = (28)*(15)-(62)*(7) = -14 pips!
Therefore, even if your fourth position reaches the TP point, you loses the trade! This can be avoided by adjusting TP and SL points 2 pips everytime a new position opens, but it requires to tolerant to a divergence in TP/SL range that eventually kills your account.
One might argue that we can increase TP to cover losses from spread. Let's take a look at our example in a more general case where, according to Martingle strategy, SL = 2*TP,
P(4) = TP - 22*SP
This means that with SP=2 pips, we need to set a TP > 44 pips but if we go one more level to open fifth position, this TP would not be enough to cover the loss.