What if the World is Wrong? - page 2
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Hey I would welcome your findings. I also would want to find out if you are doing something a little DIFFERENT from the standard Martingale trading? There is a lot of negative attitudes towards this type of trading. But its a person like you who might discover that one little thing that makes it worth it. So hang in there and look under all the rocks. You might find a diamond. In any case, I would love to see any and all result posted if you care to share them.
Best Regards
David
Thanks David for those encouraging words, by the way I found this excellent programmed EA & I think it could help a lot in studying the validity of Martinagle
https://www.mql5.com/en/code/11125
If your signals were true, and you've entered into a profitable position, why are you willingly deciding to declare that signal invalid? When you open a position, you need to have a defined SL and TP. I don't necessarily mean a specific SL and TP price, but you need to have a well defined exit strategy. When you place the trade, you should be able to tell yourself right away what would make you close that position. For example: Exit the trade when EMA20 crosses EMA 50 whether profitable or not, or ATR(20)*2 SL and TS, etc. How do you quantify "If you have ever sat in front of your monitor with a knot in your stomach and gripping a pen tightly in your hand until your fingers were numb then you would know that the above statement is just not possible to incorporate in trading the Forex.
Within one second, (yes one second NOT one minute) you can be sitting there facing doom and financial death knowing that your account is distant for closure by the Forex Broker because of margin calls, only to see a spike in price that takes you out of the pits of financial despair into the presence of huge profits and before your eyes can focus, TP is triggered."??? You're not a special little flower. You become successful with discipline, not with anecdotes.
I highly disagree with the logic of 'just wait until it becomes profitable'. Forex is not profitable for the masses. It is profitable for those that can mathematically (or fundamentally I suppose) define their edge. Those of us that just toss out random theories about the way the markets work are the ones that make it possible for others to be profitable. Can't have a winner, unless there's a loser.
If your signals were true, and you've entered into a profitable position, why are you willingly deciding to declare that signal invalid? When you open a position, you need to have a defined SL and TP. I don't necessarily mean a specific SL and TP price, but you need to have a well defined exit strategy. When you place the trade, you should be able to tell yourself right away what would make you close that position. For example: Exit the trade when EMA20 crosses EMA 50 whether profitable or not, or ATR(20)*2 SL and TS, etc. How do you quantify "If you have ever sat in front of your monitor with a knot in your stomach and gripping a pen tightly in your hand until your fingers were numb then you would know that the above statement is just not possible to incorporate in trading the Forex.
Within one second, (yes one second NOT one minute) you can be sitting there facing doom and financial death knowing that your account is distant for closure by the Forex Broker because of margin calls, only to see a spike in price that takes you out of the pits of financial despair into the presence of huge profits and before your eyes can focus, TP is triggered."??? You're not a special little flower. You become successful with discipline, not with anecdotes.
I highly disagree with the logic of 'just wait until it becomes profitable'. Forex is not profitable for the masses. It is profitable for those that can mathematically (or fundamentally I suppose) define their edge. Those of us that just toss out random theories about the way the markets work are the ones that make it possible for others to be profitable. Can't have a winner, unless there's a loser.
Perhaps you could take a look at my signal to better understand <Link removed - no signals advertising on forum thanks>
If trading was as easy as trading a cross then everyone would be rich. :) But the crowd is not very successful. I sat out to find something new and I did.
Best Regards
David Stanton