Well title says it all
if you have been demo trading and martingling thinking it works. Pull back the scope, put in a 1000 pip movement against you...hold it there for 2 years. See where you are at. Then start trading for real.
No real fund manager martingles. Cost averaging yes.. ppl do that. but in a different context than what has been preached here.
Ppl do VWAP or TWAP orders throughout a day.. maybe max a week if there is low liquidity in certain stocks. but never in Forex. you can get done probably in a couple hours.
If the price is moving away from you, what makes you think it is coming back? why not move against you more? At any point in time, the probability of it turning up or down is 50/50. Even if the tick previously is up, the next tick is still 50/50 up or down. it is an independent event.
If you are so naive to believe that, hey if it goes up then its coming down and I can exploit it, think again. If it is that easy, ppl like Demo Man would have been a millionaire by now..which of course he is not ( he can barely fund his account to 10k for a trade off) If you can find an edge, then your edge must be explainable fundamentally. If you really think there is an edge, you dont need any form of money manipulation/management. Just risk 1% of your capital on each trade and take the profit your set.
Again demo traders come and go, preaching little they know. Well yes martingling these days probably has a higher survival rate due to the fact that vol is at its lowest in years. If cost averaging is what you want, setup a certain specific timeframe for it. If it goes against you, you close as you initially
Takes a man to close a trade when it hits his stop loss. Takes a sucker to keep putting money on the wrong horse. Ever heard about gambling? No gambler would say he ever has a problem. No gambler likes to lose and no gambler ever feels like losing.
The point is, the market is the market. You have to learn how to take and give. If you cant find an edge, do something else. Nothing to be ashamed of.
But point in fact, someone in forum talks big but unfortunately has never been in the industry other than martingling on his demo. Weird but living in his own world.
Why am I posting this? Because 1 thing pisses me off more than others. When stupidity preaches stupidity and no one stops the stupidity. Its like a one eye man leading a blind kingdom... he and his circle of *ahem* internet friends and his ego. Pathetic.
Well one thing for sure. You dont need more debates on this. If martingle works, it would never be seen or heard for so many years on forum. When ever did anyone that made money consistently ever let it on, on the INTERNET.
Oh btw, that load of bullshit dynamic range bla bla bla... LMAO.. using some sort of historical data to predict future , been used and done by many.. Does it work any better than just simple technical analysis? You be the judge of it.
Real trading means,
1) you found an edge that can be explained .
2) It is consistent
3) Simple but not stupidly simple. Else everyone is doing it
4) you can sleep well knowing it wont blow up given your risk is 1% as you know, you can never know whats gonna happen ( I mean world war 3, nuclear, force majeur situations)
5) If you hit your risk limits, you are to stop the trades. No reloading and shit because in the real world, who's gonnna fund ya new money?
6) Scalable (important if you wanna make it big)
Will add more when I have time
if you have been demo trading and martingling thinking it works. Pull back the scope, put in a 1000 pip movement against you...hold it there for 2 years. See where you are at. Then start trading for real.
No real fund manager martingles. Cost averaging yes.. ppl do that. but in a different context than what has been preached here.
Ppl do VWAP or TWAP orders throughout a day.. maybe max a week if there is low liquidity in certain stocks. but never in Forex. you can get done probably in a couple hours.
If the price is moving away from you, what makes you think it is coming back? why not move against you more? At any point in time, the probability of it turning up or down is 50/50. Even if the tick previously is up, the next tick is still 50/50 up or down. it is an independent event.
If you are so naive to believe that, hey if it goes up then its coming down and I can exploit it, think again. If it is that easy, ppl like Demo Man would have been a millionaire by now..which of course he is not ( he can barely fund his account to 10k for a trade off) If you can find an edge, then your edge must be explainable fundamentally. If you really think there is an edge, you dont need any form of money manipulation/management. Just risk 1% of your capital on each trade and take the profit your set.
Again demo traders come and go, preaching little they know. Well yes martingling these days probably has a higher survival rate due to the fact that vol is at its lowest in years. If cost averaging is what you want, setup a certain specific timeframe for it. If it goes against you, you close as you initially
Takes a man to close a trade when it hits his stop loss. Takes a sucker to keep putting money on the wrong horse. Ever heard about gambling? No gambler would say he ever has a problem. No gambler likes to lose and no gambler ever feels like losing.
The point is, the market is the market. You have to learn how to take and give. If you cant find an edge, do something else. Nothing to be ashamed of.
But point in fact, someone in forum talks big but unfortunately has never been in the industry other than martingling on his demo. Weird but living in his own world.
Why am I posting this? Because 1 thing pisses me off more than others. When stupidity preaches stupidity and no one stops the stupidity. Its like a one eye man leading a blind kingdom... he and his circle of *ahem* internet friends and his ego. Pathetic.
Well one thing for sure. You dont need more debates on this. If martingle works, it would never be seen or heard for so many years on forum. When ever did anyone that made money consistently ever let it on, on the INTERNET.
Oh btw, that load of bullshit dynamic range bla bla bla... LMAO.. using some sort of historical data to predict future , been used and done by many.. Does it work any better than just simple technical analysis? You be the judge of it.
Real trading means,
1) you found an edge that can be explained .
2) It is consistent
3) Simple but not stupidly simple. Else everyone is doing it
4) you can sleep well knowing it wont blow up given your risk is 1% as you know, you can never know whats gonna happen ( I mean world war 3, nuclear, force majeur situations)
5) If you hit your risk limits, you are to stop the trades. No reloading and shit because in the real world, who's gonnna fund ya new money?
6) Scalable (important if you wanna make it big)
Will add more when I have time