Martingale Again???! - page 6
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Martingale works if you have huge balance.
The bad news is: it has a bad risk & reward ratio.
Martingale Is really high risk
In my opinion, the Fibo-progression and degression 1 - 2 - 3 - 5 - 8 - 13 - 21 - 34....., could be an alternative method in your money-management.
Without any Lot-progression or degression, how you want to gain any profit?
Never ever use martingale progression (doubling Lot-size), it is same as doing Harakire (living or dying, no option in between).
do the math.
as if, - if you go with the "classical" - to cover your loss of value 1, you need to stretch a couple other numbers in different directions - closer take profits, bigger lot-sizes or something else.
every time you lose, you lose twice what you already lost - thus the next trade, or gamble, or whatever - is accordingly twice as big.
started out with a lotsize 0.01, per 500$ deposit?
congratulations, here's a cookie - did you ever learned to count past 10 in grade school?
1 ; 2 ; 4 ; 8 ; 16 ; 32 ; 64 ; 128 ; 256 ; 512 ; 1024
martingale is a clever idea, but truly profitable in the hands of those, who know how to apply it.
it's not about "working" or "not working" - it's about math - whether you can withstand a losing streak of 10+, opening trades with lot sizes 512 times bigger than your original trade, and having an account of 4 zeroes, and more.
do the math.
as if, - if you go with the "classical" - to cover your loss of value 1, you need to stretch a couple other numbers in different directions - closer take profits, bigger lot-sizes or something else.
every time you lose, you lose twice what you already lost - thus the next trade, or gamble, or whatever - is accordingly twice as big.
started out with a lotsize 0.01, per 500$ deposit?
congratulations, here's a cookie - did you ever learned to count past 10 in grade school?
1 ; 2 ; 4 ; 8 ; 16 ; 32 ; 64 ; 128 ; 256 ; 512 ; 1024
martingale is a clever idea, but truly profitable in the hands of those, who know how to apply it.
it's not about "working" or "not working" - it's about math - whether you can withstand a losing streak of 10+, opening trades with lot sizes 512 times bigger than your original trade, and having an account of 4 zeroes, and more.
I would like to run a martingale on a demo Gbpusd between 9am & 4pm Uk time 5pip stop loss 10 pip take profit each trade adding 1 pip to take profit max 10 trades if you have EA let me know please
Maybe check the code base.
https://www.mql5.com/en/search#!keyword=martingale&module=mql5_module_codebase
Martingale is effective when you do not over trade and also then try to pick good signals to follow trend. martingale system is just there if the market goes against briefly.
I have had terrible experience with Martingale strategies but a comment or two like yours is keeping my mind open. The idea it is not a trading strategy but a money management system makes a lot of sense.
I tried a trend following EA that tried to sleep through whipsaw periods, after it lost XX trades in a row it would sleep XX bars before trading again. I could not get somebody to write the EA so it would start where it left off and trade at the higher level, it always started at the base case again so the Martingale strategy was just abandoned to a stop loss after the first set of losing trades. It just did not work out.
I agree with what you said about martingale would work if... but what really comes afterward for the case where you get a long series of bad trades? How do you suspend martingale or get it to work for you? The "sleep" to get out of the trends not working to when the trends did work was my only solution.
I am testing an EA now from the Marketplace that uses Martingale but only as money management. For now it seems to work but I don't know how it gets to that point. EA is Gegatrade Pro ASIA.
Any comment?