Hi: I was checking all the Ea versions on this thread and running some test of them, and I see that the developers have tried to do some changes here and there trying to minimize the risk and the frequency of the possibility of reaching the death trade, however, I see that the mayor problem with these EAs is the huge amount of unnecessary orders that these Eas open and nobody seems paying attention to that.
For instance, I see that in the first version the ea open 3 trades at once at the first level!!! and from there start tripling the lots every time the price touch one of those levels. Later versions open 1 buy and 1 sell pending orders at first level, and once one of the orders is executed, it start placing 4, 5, 6 pending orders in the opposite side of the trade to cover the only 1 trade that is open. That's insane!!! There is not account that will handle that, even if you have a huge account and trade micro lots. In the best case scenario, assuming that you have still money to continue trading, there will be a point where the broker won't let you open more orders because you reached the maximum amount of orders allowed.
There is not one single reason for these EAs to do that. If you want to have more orders in one side of the trade to always close in profit, you just need to double the lots, as a normal martingale system will do, starting from 0.10, 0.20, 0.40, 0.80, 1.20, 2.40 and so on to the amount your account balance can handle (that is up to you). What this ea is doing is jumping from 0.10 lot to 0.50 or 0.60 lots. That way this ea will never work, it will make you a lot of money one day, two or three, but the death trade is waiting for you around the corner to wipe your account.
When trading with martingale, as others contributors have said, there is no way to avoid the death trade 100%, it will happen soon or later, but there is ways to prolong the life of the EA to some point that when the death trade happens you have already and at least, double, or triple your account. In that case, who cares if the death trade happens, start over again and keep collecting money, but with that math calculation that this Ea is doing, no way you can achieve that.
I am not a programmer, so I can not fix it. I know how to fix small things in a code but changing all those algorithms, I can't. Maybe someone will be willing to do that. I propose changing the amount of open lots only to the double or maybe less, like martingale at 1.5 and changing the take profit target a little farther or starting with 2.0 martingale and when it reach 4 or 5 trades without reaching the take profit level, reduce martingale to 1.5 and adjust the take profit level few pips more, and if after doing this, still is not closing in profit, so put a parameter to close everything at break-even. I think one of the versions have the BE parameter but with those huge amounts of lots open at the same time is very difficult to achieve it. At least it didn't work in any of the test I run.
Other thing that I will advice you guys is trading up to one level only, and adjust the level increment to 1/3 or 1/4 of the Previous Day Range Average so hopefully you can cash in every day. Adding indicators to the Ea trying to catch the trending moment to avoid the ranging market is a good thing and can help, but as I said before, even with all those filtering, if you place 6 lots in one side of the trade to cover 1 lot in the opposite side, or 8 or 10 lots to cover 2 lots in the other side, this just doesn't make any sense.
I remember that the person who started this thread said at the beginning "this is a martingale with steroids strategy" So I advice you guys to live the steroids aside and keep playing only with the martingale, which is dangerous enough by itself, so imagine with steroids!
Hopefully someone will agree to modify this, that will be great! At this time there is no way I will use this ea live. I will keep trading this strategy but only manually, and I will try to reach the profit target only once per day. And once I reach it, I am done for the day. And next day just place pending orders again, collect profit and go, till the next day.
Regards
For instance, I see that in the first version the ea open 3 trades at once at the first level!!! and from there start tripling the lots every time the price touch one of those levels. Later versions open 1 buy and 1 sell pending orders at first level, and once one of the orders is executed, it start placing 4, 5, 6 pending orders in the opposite side of the trade to cover the only 1 trade that is open. That's insane!!! There is not account that will handle that, even if you have a huge account and trade micro lots. In the best case scenario, assuming that you have still money to continue trading, there will be a point where the broker won't let you open more orders because you reached the maximum amount of orders allowed.
There is not one single reason for these EAs to do that. If you want to have more orders in one side of the trade to always close in profit, you just need to double the lots, as a normal martingale system will do, starting from 0.10, 0.20, 0.40, 0.80, 1.20, 2.40 and so on to the amount your account balance can handle (that is up to you). What this ea is doing is jumping from 0.10 lot to 0.50 or 0.60 lots. That way this ea will never work, it will make you a lot of money one day, two or three, but the death trade is waiting for you around the corner to wipe your account.
When trading with martingale, as others contributors have said, there is no way to avoid the death trade 100%, it will happen soon or later, but there is ways to prolong the life of the EA to some point that when the death trade happens you have already and at least, double, or triple your account. In that case, who cares if the death trade happens, start over again and keep collecting money, but with that math calculation that this Ea is doing, no way you can achieve that.
I am not a programmer, so I can not fix it. I know how to fix small things in a code but changing all those algorithms, I can't. Maybe someone will be willing to do that. I propose changing the amount of open lots only to the double or maybe less, like martingale at 1.5 and changing the take profit target a little farther or starting with 2.0 martingale and when it reach 4 or 5 trades without reaching the take profit level, reduce martingale to 1.5 and adjust the take profit level few pips more, and if after doing this, still is not closing in profit, so put a parameter to close everything at break-even. I think one of the versions have the BE parameter but with those huge amounts of lots open at the same time is very difficult to achieve it. At least it didn't work in any of the test I run.
Other thing that I will advice you guys is trading up to one level only, and adjust the level increment to 1/3 or 1/4 of the Previous Day Range Average so hopefully you can cash in every day. Adding indicators to the Ea trying to catch the trending moment to avoid the ranging market is a good thing and can help, but as I said before, even with all those filtering, if you place 6 lots in one side of the trade to cover 1 lot in the opposite side, or 8 or 10 lots to cover 2 lots in the other side, this just doesn't make any sense.
I remember that the person who started this thread said at the beginning "this is a martingale with steroids strategy" So I advice you guys to live the steroids aside and keep playing only with the martingale, which is dangerous enough by itself, so imagine with steroids!
Hopefully someone will agree to modify this, that will be great! At this time there is no way I will use this ea live. I will keep trading this strategy but only manually, and I will try to reach the profit target only once per day. And once I reach it, I am done for the day. And next day just place pending orders again, collect profit and go, till the next day.
Regards