Take Profit for Martingale orders

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Hi,

I am writing a Martingale EA specification to be posted on the freelance section and I am stuck on the take profit parameter.

I used a lot of EA in the past with the take profit in points specified by the user, if you used martingale/grid systems, you should be comfortable on how do they work.

I am writing a description, but I find it hard to explain how the take profit work in these kind of system.

Can someone help me with an explanation?

 
Mario Simonetti:

Hi,

I am writing a Martingale EA specification to be posted on the freelance section and I am stuck on the take profit parameter.

I used a lot of EA in the past with the take profit in points specified by the user, if you used martingale/grid systems, you should be comfortable on how do they work.

I am writing a description, but I find it hard to explain how the take profit work in these kind of system.

Can someone help me with an explanation?

In my opinion, the most suitable take profit application for martingale systems is based on average cost. In addition, it can be an option to delete the highest cost position by matching some of the profited orders.

 
Mario Simonetti: I am writing a Martingale EA specification t

Hedging, grid trading, same as Martingale.
          Martingale, Hedging and Grid : MHG - General - MQL5 programming forum (2016)

Martingale, guaranteed to blow your account eventually. If it's not profitable without, it is definitely not profitable with.
          Martingale vs. Non Martingale (Simplified RoR vs Profit and the Illusions) - MQL5 programming forum (2015)

Why it won't work:
          Calculate Loss from Lot Pips - MQL5 programming forum (2017)
          THIS Trading Strategy is a LIE... I took 100,000 TRADES with the Martingale Strategy - YouTube (2020.12.12)

 
Mario Simonetti:

Hi,

I am writing a Martingale EA specification to be posted on the freelance section and I am stuck on the take profit parameter.

I used a lot of EA in the past with the take profit in points specified by the user, if you used martingale/grid systems, you should be comfortable on how do they work.

I am writing a description, but I find it hard to explain how the take profit work in these kind of system.

Can someone help me with an explanation?

First, you should define what's your TP: fixed in points, ATR based, indicador based.

Then you should define how would you take your profit from the martingale: fix point, averaging by highest volume, netting, reversal or indicator based once again.

For example, your TP is 50 points and you have 3 open positions:

  • 0,01 x 50 = 0,50 you close at fix point with 0,50 profit.
  • 0,02
  • 0,03 x 50 = 1,50 you close at average point on the higher volume with 1,50 profit.
  • SUM: 0,06 lots x 50 = 3 you close at netting point with 3,00 profit, this would be breakeven + TP in points.

In addition, you can also close at breakeven point with no profit. Hope this helps.

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