DislikedThank you so much for being up front with me...
This will be fine... and have a great weekend
Regards,Ignored
Thank you Scott..........And a GREAT Weekend to you too.
Dan
Martingale, Reverse Martingale, Modified Martingale, Maths 1 reply
Semi Martingale Strategy 113 replies
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SWING Trades using the FXTradepro "LUCKY 7" Progression Sequence 4 replies
DislikedThank you so much for being up front with me...
This will be fine... and have a great weekend
Regards,Ignored
DislikedGood Lord I've posted nearly this exact same strategy twice on this forum:
http://www.forexfactory.com/showpost...5&postcount=19
http://www.forexfactory.com/showthread.php?t=31337
This thread has a five star rating, but when I originally posted this Merlin moved it to the "Beginner Q & A" thread.
Burgerking made nearly the exact same EA, and it's posted on that thread.Ignored
DislikedVery interesting thread . Fxtradepro made it very easy to understand the concept of this system. good job and thanks for sharing your hard work. I will certainly try your ea and post my result next week.Ignored
Dislikedgambler997 and everyone,
Please remember that the EA is only a MANAGER of the Sequence Of Trades. You must look for a pair that you believe will hit 40 Pips in your selected direction or 50 Pips in the OPPOSITE direction while attempting to avoid a tight 10 Pip range.
DO NOT ENTER RANDOMLY !
I hope that I have been clear on this point.
DanIgnored
DislikedI just find it amusing that it is suddenly en vogue. Your presentation was more professional than mine, which probably made a better sell.
Well Burgerking claims to make up to 1% a day trading GBP/USD w/ the semi-Martingale EA he made (called the BurgerHedge EA if I remember correctly.) Although highly improbable, I have found occasions where meltdown could have occured.
The purpose of the Blackbeard's Grid was to push the TP out VERY far.... so that the lot size remains extremely small on the recoups, thus keeping drawdowns very low.Ignored
Dislikedthis auto system is breaking the first rule to automated trading system:
#1 Absolute Capital Preservation.
#2 should be profitability.
like someone mentioned, you might think, hey i will never get 13 reds in a row, the likelihood of that is low. believe me, it WILL happen, and your account will be wiped clean.
its not hard to achieve something like high 90%+ success rate, its capital preservation that is important. so far, i've never seen a 90%+ system that was able to keep money protected reasonably. all my past system revolved around that high success rate, yet i couldn't fix that one possible but very rare trade that would kill my account.
anyways, good stuff.Ignored
DislikedWhat is the difference in just closing out your position and reversing??? You are just locking in loses when you buy after a sell... it does nothing but help you pretend you did not just assume a loss..
I did not read through the whole strategy so I apologize if I am missing a critical point here, but if the strategy is the same thing I came across a while ago (which I am almost sure it is just from the illustrations) then it is a death sentence for any trader who tries to do this in the long runIgnored
DislikedI think the Semi-Martingale strategy is great. However, theoretically I suppose one could have 25 consecutive trades go against him/her. I think a way to protect capital preservation & offset the risk of 25 bad trades is to do what I would call a "leap frog" trend martingale. For example, instead of selling each trade at the 10 Pip stop-loss, let it ride through the next corrresponding retracement. At which point, the corresponding trade, which would be only two trades away, would be twice the original trade. Also, at that point you would sell the original position. This liquidates your initial trade at no profit-no loss, but frees up your capital & in effect transfers the profit potential to the next corresponding trade, which is only two trades away. I am new to the forex market; however, I'm quite familar to the options market and I am trying to learn this arena quickly. However, a major criteria for me to trade in the forex market is to enure that I can make a profit while hedging my position. I don't think a better method (safer & more profitable) than what I'm trying to lay-out exists. I have not tried this method, the "leap frog" trending martingale. However, perhaps it can take the Semi-Martingale strategy to the next level. Please let me know if I'm off target...
Thanks,
WaltIgnored
DislikedFXTradepro,
Other than the EURUSD, do you know of any other pair that works well with this strategy. I believe a volatile pair, such as GBPJPY would work well with a TP of 80 and a SL of 30.Ignored
DislikedMan, this thread is getting longer quicker than I had thought. A very good presentation of your system fxtraderpro.
The main thing i can deduce from your posts is that patience is key. As with any other method of trading, where patience is impt, and one has to let the trade come to them, rather than chasing one, the same principles apply to this. What I like about it is that you do not need to be correct in your initial entry, as you have stated. As far as results go, just breaking even in one's first year of trading would be a huge achievement.
There are several places I think this strategy could work, eg major market open times, pivot levels. Pairs like eur/usd, gbp/usd are pretty good at respecting pivots, in normal market conditions.
Though i am a happy scalper atm, diversification is good, so I look forward to applying your strategy next week.
Regards,
K.Ignored