The Legend of The Gambler - page 39
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I will gladly take a look at your results in combination with my SuPeR_MM so you could see if a good MM would indeed improve your results ( no martingale).
Hi iGoR,
Would you please analyze my pips? I attached a spreadsheet formatted how you requested but it's a text file, you can open it in Excel because its delimited properly. 7 trades were net zero so I put them at the bottom in case you don't need that info.
Many thanks!
Kenny, I sent you a PM.
^ I agree. Prasxz.
You jump into the trend, and if it goes against you, it hurts so you take your lick and come back tomorrow. But if it goes your way, then it is sweet molasses and you're making some good pips. One has to have a big stomach for drawdown to trade on the 4H TF, and I know it is not for everyone. I do feel it requires a lot less work because it allows you to check every few hours, and if you set a stop and target profit after entry, you can pretty much walk away (by setting up a trading management type EA).
Wake up in the morning, and see which side gets hit. Hopefully, luck and a little bit of experience/edge is on your side.how long you will wait -- if it GOES AGAINST you,
then
would you hedge (lock - buy and sell for 1 currency pair) or do you just close it
traders, -- let us know , how you deal with trend against you !! pls
how long you will wait -- if it GOES AGAINST you, then would you hedge (lock - buy and sell for 1 currency pair) or do you just close it traders, -- let us know , how you deal with trend against you !! pls
It depends on your strategy.
For my simple long term strategy, I use a stop loss. For example, if prices moves above the high, then I buy, and put a stop below the low.
For my more complicated strategy, I may not put in a stop loss. I may use another trigger to close the trade, perhaps an opposite signal or an indicator cross.
I usually don't hedge against my losses. I ride the trend. If I'm caught on the wrong side of it, then I want to get back on the right side.
Igor,
Give me a few months to generate the data. I'm just getting back into the flow of it, and I'm still trying to nail down the settings I want to use.
Thanks for the offer though. Much appreciated.
GBPJPY
Buy @ 156.66
SL @ 155.64
TP @ Open
Current Price @ 156.55
Current P/L @ -10 (not including spread)
USDJPY
Buy @ 95.09
SL @ 94.39
TP @ Open
Current Price @ 95.06
Current P/L @ -3 (not including spread)
Wish me luck.
GBPJPY
Buy @ 156.66
SL @ 155.64
TP @ Open
Current Price @ 156.55
Current P/L @ -10 (not including spread)
USDJPY
Buy @ 95.09
SL @ 94.39
TP @ Open
Current Price @ 95.06
Current P/L @ -3 (not including spread)
Wish me luck.Just closed both trades, and heading to bed.
]GBPJPY
Bought @ 156.66
Out @ 157.21
Final P/L @ $57.83 (including spread)
USDJPY
Bought @ 95.09
Out @ 95.10
Final P/L @ $1.05 (including spread)
What you think of Martingale method?
What you think of Martingale method?
It can be very profitable when it is working. But many people underestimated the risk and stress it takes to use this strategy. When people get on winning streaks, they feel like incorporating larger starting trade sizes...then the market comes over and wipes your account out on the next losing streak. This is the reason they need to stay disciplined, and keep the trading size small enough to withstand the perfect storm.
People look at a chart and visually backtest all the scenarios, but they don't factor in news announcements or real life events, locking the market...and moving hundreds of pips in a split second.
Hi iGoR,
Would you please analyze my pips? I attached a spreadsheet formatted how you requested but it's a text file, you can open it in Excel because its delimited properly. 7 trades were net zero so I put them at the bottom in case you don't need that info.
Many thanks!Hi Tanzar,
Your system is normally not a system that the SuPeR_MM can give a lot of help to.
Your system is a system that works with very small T/P's compared to very big stops.
Because of these 2 rules that you use (small T/P's and big S/L's) you force your system into a systhetic high hitrate.
That means that MM (because S/L and T/P is MM) has already a huge impact on your results.
So I can only implement half of the SuPeR_MM and that is the compounding part.
But I can imagine if you would have implemented an normal ordinary compounding strategy to your results that you came up with similar results.
So it turns your result in pips from 10K$ in to 32K$.
Friendly regards...iGoR
PS. Sorry Kenny for the off-topic.