Why people are still trying Martingale Systems? - page 3
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Thanks Bluto and David for answering as you are I guess the main people who work on these systems.
It is very understandable that you are confident on these systems considering the amount of work you have put in.
But I would like you to give your opinion on my point 3 which was: even if you get a winning system I don't think that any broker will let you run it for more than few days.
Do you think otherwise or do you have any experience contradicting this?
ThanksSee the bipoler thread for my last 2 weeks of real money earnings.
Dave
Hi Jlpi
Can you explain anti-martingale system? I would like to code such a system and give it a try.
Thank you.placing one trade at a time with s/l and tp and not placing another untill the previous one is closed.
Duh?
A broker isn't going to shut you down just because you have a winning system as long as you're playing by the rules (not scalping, etc.) For every few traders that can consistently win, there are gobs of other traders that continuously lose money and go bust. At the end of the day, the profit scale tips heavily in favor of the broker, not to mention all the spread and slippage they earn from every trade placed. It's quite like a casino although we don't like to think of it that way. Trading Forex successfully over the long haul. either manually or automated is hard work and it takes lots of education, training, persistence, trial & error, school of hard knocks, and patience to get it right. It's not impossible to be a winner but most lose because they fail in one or more of those attributes. When the day comes that everything turns around and winners outnumber losers, market volatility will become so erratic that price charts will look like graphs of white noise from some radiotelescope.
I totally agree with you and with your comment. My point was just that I am afraid that a broker doesn't consider that running a scalping martingale system is "playing by the rules".
Some people said that it s OK with IBFX. I guess that it needs to be confirmed by somebody that has been able to run such kind of EA on a live account for let's say 6 months (and of course who is winning with the ratio we see usually).
See the bipoler thread for my last 2 weeks of real money earnings. Dave
OK I will follow this thread, specially if it is with a real account !
In my opinion 3 months is the minimum time to insure that the system is more or less stable, so I will follow it in the coming weeks.
It is very nice that you try this system under real conditions.
I totally agree with you and with your comment. My point was just that I am afraid that a broker doesn't consider that running a scalping martingale system is "playing by the rules". Some people said that it s OK with IBFX. I guess that it needs to be confirmed by somebody that has been able to run such kind of EA on a live account for let's say 6 months (and of course who is winning with the ratio we see usually).
jlpi -
Just as an added note, there's nothing inherent about most of the traditional Martingale based EA's that would set off any red flags with a broker. I'm speaking of EA's like 10Point3, Goblin, Terminator, Predator, etc. These typically place successive orders in intervals that are well beyond what's defined as scalping. Perhaps it's the trading style of Martingale that you're not too fond of, and if you favor trend following methods, that's cool. Believe it or not, building a solid trend following EA can be a daunting task. Martingale EA's works pretty well most of the time and it's fairly easy for guys to get their heads around plus there's a ton of them floating around, hence their popularity. The key is to make them safe when a big move happens and there hasn't been a whole lot of widespread development in that area yet. Until now that is.
Okay, this has been going on too long. To all of the rich kids with a trust fund to protect, there are actually some people who have to go to work every day that are trying to find a high-risk, high-reward way to get into this game.
I would not use a system like this permanently. However, if it had the possibility of turning $1000 into $50,000 so I could then use more conservative systems, while making a living trading, I'd try it if I was truly convinced that I had a 30% chance of success. If I did it 3 times I would likely be there.
I think the brokers are putting plants here to try to discourage this kind of shit, since we all trade in a bucket against each other anyway. I was banned from forex factory for telling it like it is, but I think the brokers run that place anyway, they ban everybody with innovative ideas. How did that Vegas thing work out?
Anyway, this doesn't even need an EA and the brokers love it because only about 1 out of 10 attempts succeed. It can be done manually with limit orders and usually the broker gets a whole account in a matter of weeks.
Basically, you're taking a big chance with anything martingale. If you start with small money at the right time, you might be lucky enough to get some serious trading capital and then be able to implement more reasonable strategies. It's blind luck, yes, but it might be worth a shot if you don't have an inheritance...
Anti-Martingale EA
please help me to develop Anti-Martingale EA. Thanks very much
ENTRY LONG
Close > Moving Average
AND
Close > Open Daily
EXIT LONG
Close < Moving Average
ENTRY SHORTClose < Moving Average
AND
Close < Open Daily
EXIT SHORT
Close > Moving Average
MONEY MANAGEMENT
Antimartingale Strategy:Rule = increase risk when winning & place initial lot amount when losing
Initial Lot: 0.05
Lot increment: +0.05
Max Lot: 1.0
For example:
Trade number 1 lots 0.05 = Win, next trade 0.10
Trade number 2 lots 0.10 = Win, next trade 0.15
Trade number 3 lots 0.15 = Win, next trade 0.20
Trade number 4 lots 0.20 = Lose, next trade 0.05
Trade number 5 lots 0.05 = Lose, next trade 0.05
Trade number 6 lots 0.05 = Win, next trade 0.10
Trade number 7 lots 0.10 = Win, next trade 0.15
The reason there are so popular is that a lot of the people on forums are looking for that quick profits and these are the systems that turn a quick profit and a way to riches till the day comes that they are out of the market and wonder why
I gree, because the movement price on forex is to slow, if the movement very fast there are nobody use martingle (try trades hangseng index, the movement could be 60pips until100 pips in 1 minutes bar chart
A broker isn't going to shut you down just because you have a winning system as long as you're playing by the rules (not scalping, etc.) For every few traders that can consistently win, there are gobs of other traders that continuously lose money and go bust. At the end of the day, the profit scale tips heavily in favor of the broker, not to mention all the spread and slippage they earn from every trade placed. It's quite like a casino although we don't like to think of it that way. Trading Forex successfully over the long haul. either manually or automated is hard work and it takes lots of education, training, persistence, trial & error, school of hard knocks, and patience to get it right. It's not impossible to be a winner but most lose because they fail in one or more of those attributes. When the day comes that everything turns around and winners outnumber losers, market volatility will become so erratic that price charts will look like graphs of white noise from some radiotelescope.
For every few traders that can consistently win, there are gobs of other traders that continuously lose money and go bust. At the end of the day, the profit scale tips heavily in favor of the broker, not to mention all the spread and slippage they earn from every trade placed. It's quite like a casino although we don't like to think of it that way
I like what you said-- and it is quite true when I worked with the broker
I create something for each price level , but still too reluctant to CLOSE when things does not turn out the way I wish
I gree, because the movement price on forex is to slow, if the movement very fast there are nobody use martingle (try trades hangseng index, the movement could be 60pips until100 pips in 1 minutes bar chart
If Forex price movement like this (...dreaming...)