Bet on the Direction
The fxRoulette EA: (almost a pure martingale EA implementation)
Lots of discussion indicates the market trends - moves in a direction and keeps moving in that direction. The attached EA allows you to bet that if the market moves in a direction, it will continue in that direction. Features of the EA:
- Start a trading round by moving the bullet into the square. It doesn't go unless you tell it to.
- It implements a martingale strategy - Doubles after each loss until it wins or reaches risk limits.
- It implements a risk control algorithm that limits losses to a percent of equity and limits a position to a percent of available margin (see the Risk Calculation EA post)
- It has graphical strike, profit and loss lines that can be adjusted by the user to initiate and close trades.
- Has code examples for displaying objects and taking user input.
Enjoy the EA and the code examples. Please respect the spirit of sharing and post back use of code and modifications. Back test it - I was surprised how well it did.
Edit: About 300 downloads. I downloaded it today, and re-compiled with property strict. I wonder if it would be fun to update this to handle events, put in some kind of strategy to enter in a direction that seems favorable....
proper set up
I'm very interested to test your ea, but don't the right set up of the parameters to get it running on the M1 tf.
Your help is appreciated
Betting on a direction will make you bankrupt just like Brian Hunter (calgary based natural gas trader) went bankrupt after wrong calls on natural gas.
I have realised trading daily chart and closing the position by the end of the day is a way to go.
I worked with Martingale in the past and came to conclusion that it gives slow profit increase but is able to burn any account at one time.
Martingale looks good on paper, but in live account, you need to have a deep, deep, deep, and real deep pocket, and a heart of stone or steel to watch the drawdown.
My 2 cents.
But I liked the name, fxroulette.
This is quite old school, but - the strategy tester doesn't support events, so making it this way lets you use the controls in the strategy tester.
If you just start the game, without automatic restart, after one game round, the game ends and the marks 'deselect'. If you have automatic restart also selected, it is supposed to continue (never deselect).
© Forex Factory