What do you think about Martingale strategy ? - page 3

[Abdul Salam]

yes you are right Pankaj D Costa . if you have best condition of the market the it is superb money marker but it turn in opposite direction then the whole account is crash within seconds by loosing thousands of usd

[Abdul Salam]

Stuart Browne:
Very sorry to hear that you have crashed two accounts. But unless you have INFINITE money, martingale will ALWAYS result in destroying every account you try it on. You can't escape it, it is a mathematical fact. It was invented by gamblers - I think that says it all.

Get it wrong only 10 times in a row using an initial 0.01 lot size and your "bet" will need to be a massive 10.24 lots on your 11th attempt, just to win back your original 0.01 bet!!! How could that ever possibly make sense to anyone???

0.01
0.02
0.04
0.08
0.16
0.32
0.64
1.28
2.56
5.12
10.24

yes you are right Stuart Browne. you have correct history. and it is really gambling 

and gambling sometimes /every time result bad 

[Marco vd Heijden]

Gambling must also be considered a form of strategy.

[Stuart Browne]

Marco vd Heijden:

Gambling must also be considered a form of strategy.

Yup, that's a very good point. And some figures published a couple of years ago by the Wall Street Journal showed that gamblers:

• Won on 30% of the days they wagered
• Only 11% won over 2 years and most gained less than $150
• Of the top 10% of "heavy gamblers", 95% ended up losing money (sound familiar??)
• Big losers (>$5000 loss) outnumbered big winners (>$5000 profit)  by a staggering 128 to 1

Now add leverage into the gambling equation and I think you'll agree that it's not a very successful forex strategy for most.

 

 Source: How Often Do Gamblers Really Win?

[Pankaj D Costa]

Thanks for this valuable information @stuart.

So far I did not get anyone in my circle who won profit from forex with martingale. Some of my friends now in profit margin with heavy analysis and manual trading without martingale / grid. Some friend earn smart amount with martingale strategy for a certain period but end of the month lost everything. Martingale is not a profitable strategy in forex, this can bring profit for a certain period only, not for all time and final result is loss. 

[Pankaj D Costa]

Marco vd Heijden:

Gambling must also be considered a form of strategy.

Still now maximum traders choose those EA / strategy to earn money. Its an important method to earn profit but not really stable strategy. Always should prepare to accept big loss.

[Marco vd Heijden]

Where lies the border between Gambling, and Trading ?

When does placing an order, fall into either category ?

[Tan Phan Ngoc]

Marco vd Heijden:

Where lies the border between Gambling, and Trading ?

When does placing an order, fall into either category ?

Nobody win in gambling but trading is possible if you have a good strategy.

[Marco vd Heijden]

of course there are people that win a lottery and become millionaire.

that is no different.

[Tan Phan Ngoc]

1 million people only 1 people win lottery and the lottery winner is not a gamble.