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Does the martingale system really work?

mathematically it does not work

the account will blow up at some point
Mexicano
Morning Traders,
Im a rookie from South Africa and Ive been experimenting with Ilan EA's for the past two weeks. The screenshot below is of my progress till this morning.
Some of the drops in equity was when I was tweaking and optimising my settings. On average Im taking around $1k plus a day.
I just thought that I will share my experience thus far.

I have a TE page that will verify the trade results.

Regards,
Eaziz

P.S I use M5 timeframe and a Equity manager that manages my Losses. I set it to take profits at $25 whereby all trades get closed and restarts trading again from scratch.
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I've been watching this system for over 2.5 years now..it did have that hiccup for one trade set, but other than that it's still running and grinding.. this is on a live account by the way.. initial funding was $2,000 now the account is at $32,273.. so i guess martingale is working for this system.

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Anti-martingale (or pyramiding) really works, which means you add positions on winning trades instead that on losing ones.
Quoting ronald_fsm
hello guys , i just want to know is that martingale works? is that system could be use for long time? -could anyone who already use this system give comment? -which pair is the best for trading this system? thanks for your attention.

opinions about martingale has always been and will always be contrasting, and this debate is active since ages. in fact you can find almost everywhere people pro martingale and against.
Is a negative progression betting system, super easy to understand: if u loose you double your bet in the next game, and so on till u win like for example

1st game you bet 1 and lose
2nd bet 2 and lose
3rd bet 4 and lose
4th bet 8 and lose
5th bet 16 and win

u lost in total 1+2+4+8 =15
u won 16 with a profit of 1

So potentially and from a strict mathematical point of view it seems to work; problems start when u face the reality, since there could be complications you could run into while you actually use it, like for example limits in your bankroll (bet amount is exponential) or house edge (many places put limits on how much you can bet/how much they will pay)

in the end IMO a trader is supposed to get as much convenient trades he can. Profit chance should be at least roughly of 15%, and so the loss chance.
Martingale is good since the winning chance get up to 50%, but so does the loss chance.
Considering that, and considering the exponential amount of money you gotta risk, i wouldn’t feel like using it.
Here´s one doing well so far for 7+ years.

https://www.myfxbook.com/members/For...ce-100k/396026
The most stupid and sheep way to think is to think like the masses. An example of sheep thinking is that martingale systems never work. Reality is that martingale system will often (if not always) work if you have a big account and you play relatively safe without playing big lots. Forex is not pure luck and market moves in waves usually and price is often rivisited. Martingalr has more chances to work in forex than at casino. Start by using a smaller multiplier (1.5) starting from micro lots and using range pairs and your chances increase. Of course possibility of failure is always there but it is the same with all systems.
hey guys, I'm itchy to share this experience. I have done Martingale style forex trading without even knowing it exists and called 'martingale'. This style should suit people who understand what gap trading is and what must happen with the gap. The rest you can think about yourself what to do in that situation especially since forex could have a few wide gap that is not immediately closed.

think about guys, think about it...
I agree with risardi.i lost my account due to big gap on eu and gu last week.
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a simple Anti martingale EA equity line...In the long term every martingale system is going to not work. Black swann events will always exists and we can't predict their amplitude.
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with a martingale approach here you would be roasted, with an antimartingale approach I'm making money.
I strongly suggest you to read Antifragile by Taleb
Quoting T4Trade
I agree with risardi.i lost my account due to big gap on eu and gu last week.
Okey, now you got my attention 'cause I potentially suffered the same result however, here is what I did on gap:
1. Gap must be really really wide
2. The first thing to do is to open a trade toward the direction of "closing" the gap.
3. Then, I keep checking the trade in case it goes toward the direction of the gap. Here you need to understand a little bit of candlestick or bar chart. On every possible reversal, I will add my position. I can't advise you to whether to double up or not though. Of course I do not go nasty by adding position too much too fast.
4. if price rolls toward the direction of the gap, eventually it will get back up. The word eventually has this caveat: based on my checking that is not thorough, the only gap in major currencies that are not closed were 2014 EUR/USD gap when italy chose its new prime minister or something. That was a 90 pips gap!!

The scariest experience for me was when GBP gapped down 90 pips and started rolling down almost 150 pips in a day!! I wonder how it was closed however interesting enough, German chancellor Merkel said something soothing to the brexit that the gap was close for a fcukin' 200 pips....

So, anyone interested in putting your 2-cents?
Quoting DojiSan
I've been watching this system for over 2.5 years now..it did have that hiccup for one trade set, but other than that it's still running and grinding.. this is on a live account by the way.. initial funding was $2,000 now the account is at $32,273.. so i guess martingale is working for this system. {image}
Is it your own system? If not, then how does you know, it’s martingale or not?
Quoting Rainy88
{image} a simple Anti martingale EA equity line...In the long term every martingale system is going to not work. Black swann events will always exists and we can't predict their amplitude. {image} with a martingale approach here you would be roasted, with an antimartingale approach I'm making money. I strongly suggest you to read Antifragile by Taleb
what EA is this?
Quoting jamco388
{quote} what EA is this?
a simple EA I made that buys sells when price goes out of an envelope and trails profit with the other border.
Here's a combine strategy with Martingale, MM and BB. Its making a 95% profit so far, so I suppose its a mix of give and take to make a good EA to earn profit from this market
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Quoting Viviann
Here's a combine strategy with Martingale, MM and BB. Its making a 95% profit so far, so I suppose its a mix of give and take to make a good EA to earn profit from this market {image} {image}

This is really good. You have consistent profit. Well done. I am new to this strategy, can you share to us what do you mean by MM and BB?
Quoting scolex
{quote} This is really good. You have consistent profit. Well done. I am new to this strategy, can you share to us what do you mean by MM and BB?
Consistent profit needs to be shown over years, not months.
Quoting Forexkongs
{quote} Consistent profit needs to be shown over years, not months.
Exactly.

Don't know why are martingale encouragements allowed, specially in the rookie talk...

Just don't trade using martingale system, ever!
Quoting ronald_fsm
hello guys , i just want to know is that martingale works? is that system could be use for long time? -could anyone who already use this system give comment? -which pair is the best for trading this system? thanks for your attention.
This one seems to be fine on my demo
Attached File(s)
File Type: ex4 ReCharged_SMG EA.ex4   56 KB | 440 downloads
Gig-B
Quoting fx11trade
{quote} Exactly. Don't know why are martingale encouragements allowed, specially in the rookie talk... Just don't trade using martingale system, ever!
Sure I am waiting for it to grow. I believe it's growing well. It just opens position when the trades are profiting, so I suppose its different from the conservative martingale
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