Why martingale EAs look profitable… until they aren’t (especially on gold) - page 13

[Osama Hasan Ibrahim Abuyassen]

If you are a new trader, I do not recommend trading gold, as it moves too fast for beginners; instead, I recommend trading EUR/USD using a good Expert Advisor.

[Osama Hasan Ibrahim Abuyassen]

Bruce Fx #:
Andrea Michelon's 72-variant test is basically my last two years in one table. I ran three different grids on gold, all died between February and April. The one that hurt was a $500 account that survived 11 weeks and then lost 85% in a single NY session when spreads blew from 22 to 65 cents around CPI. I disagree with Daniel-gheorghe's line that indicators can never beat 50/50, but he's right that martingale throws the one controllable thing, constant risk, out the window. That's the real killer.

In my opinion, the Expert Advisor you were using isn't good enough; it lacks news filters and spread filters, which led to financial losses.