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Martingale EA

  • #1
  • First Post: Jan 15, 2008 11:45am Jan 15, 2008 11:45am
Hi,

I was wondering if someone can kindly help me out here.

I have attached the EA here, but need to modify it as:

1. i want the ea to have a start time and a end time, so the ea starts at a specific time and closes all trades at a specific time and true or false feature to use this feature.

2. based on the TP and SL the order is gone in the direction of E/MA that you already have in place, but say if the TP hit, then the EA closes off and shutdowns for the day, if you are using the timeframe feature set to true, then the EA starts again tomorrow at that time and does all the same again. If you do not hit TP and hit SL, then the order via MM that you already have, lot size doubles and the trade goes in the direction the EA got stopped out based on the first trade SL and TP again and it does this until either MAX TRADE hit or end time or TP hit and then the EA closes down and starts again tomorrow.

Thanks,
Guess
Attached File(s)
File Type: mq4 TFX.mq4   6 KB | 3,333 downloads
File Type: mqh TFX_Include.mqh   2 KB | 2,438 downloads
  • #2
  • Jan 15, 2008 4:50pm Jan 15, 2008 4:50pm
I live in hope!

  • #3
  • Jan 16, 2008 3:26pm Jan 16, 2008 3:26pm
Hi guess121,

I do not work much with EAs, though I can modify them. I am mostly working on Indicators. But, I will try to suggest how you can handle these problems.

Quoting guess121
1. i want the ea to have a start time and a end time, so the ea starts at a specific time and closes all trades at a specific time and true or false feature to use this feature.
1. You can define two Global variables [int StartHour=8, EndHour=16; ] and make all trading stop (and close existing orders, if needed), when the time is above EndHour. Allow new orders only when the time is between these two times.
if (Hour() >= StartHour && Hour() < EndHour) AllowTrades=true; else AllowTrades=false;
if (Hour() >= EndHour) CloseAll(); // use a CloseAll routine to close all.

2. First you can control number of trades per day (let us keep 1). Define three Global variable [int TodayTrades, DailyTrades=1, LastDay=-1; ].
A. When a trade is palced, 1 has to be substracted from TodayTrades [TodayTrades--; ]. When a TP is reached, there will be no more trades.
B. When a SL is hit (I don't know how to monitor this), the TodayTrades should be increased by 1 [TodayTrades++; ]. OR you can reduce TodayTrades when TP is reached, instead of while placing the order (but logically it will have same problem of knowing whether the order hit SL or TP).
C. if (LastDay != Day()) { TodayTrades=DailyTrades; LastDay = Day(); }
D. Before each order check:
if (TodayTrades > 0) place trade.

This way you can control how many maximum trades you want. If you substract all trades while placing orders, you can control maximum total trades per day also (including winners and losers).

This is the logic I can think of. I hope you are able to put it to work.

Good Luck.
chandra
  • #4
  • Jan 17, 2008 4:59am Jan 17, 2008 4:59am
Hi Chandra,

Thanks a lot for this, but my coding skills are not that great, I will give this a go, otherwise if there is anyone else that can help me out on this, would be great, I don't think a lot is required to be done, by the looks of it.

Thanks,
Guess

Quoting achandrasekaran99
Hi guess121,

I do not work much with EAs, though I can modify them. I am mostly working on Indicators. But, I will try to suggest how you can handle these problems.


1. You can define two Global variables [int StartHour=8, EndHour=16; ] and make all trading stop (and close existing orders, if needed), when the time is above EndHour. Allow new orders only when the time is between these two times.
if (Hour() >= StartHour && Hour() < EndHour) AllowTrades=true; else AllowTrades=false;
if (Hour() >= EndHour) CloseAll(); // use a CloseAll routine to close all.

2. First you can control number of trades per day (let us keep 1). Define three Global variable [int TodayTrades, DailyTrades=1, LastDay=-1; ].
A. When a trade is palced, 1 has to be substracted from TodayTrades [TodayTrades--; ]. When a TP is reached, there will be no more trades.
B. When a SL is hit (I don't know how to monitor this), the TodayTrades should be increased by 1 [TodayTrades++; ]. OR you can reduce TodayTrades when TP is reached, instead of while placing the order (but logically it will have same problem of knowing whether the order hit SL or TP).
C. if (LastDay != Day()) { TodayTrades=DailyTrades; LastDay = Day(); }
D. Before each order check:
if (TodayTrades > 0) place trade.

This way you can control how many maximum trades you want. If you substract all trades while placing orders, you can control maximum total trades per day also (including winners and losers).

This is the logic I can think of. I hope you are able to put it to work.

Good Luck.
chandra
  • #5
  • Jan 22, 2008 10:07am Jan 22, 2008 10:07am
Hi Marcelo,

I have a couple off new files here, with updated code.

Most of the coding has been done.

1. I want the ea to have a start time and a end time, so the ea starts at a specific time and closes all trades at a specific time and true or false feature to use this feature.

2. based on the TP and SL the order is gone in the direction of of that last bar in the time frame, if the bar is a bull bar then long, if it is a bear bar, then short, but say if the TP hit, then the EA closes off and shutdowns for the day, if you are using the timeframe feature set to true, then the EA starts again tomorrow at that time and does all the same again. If you do not hit TP and hit SL, then the order via MM that you already have, lot size doubles and the trade goes in the direction the EA got stopped out based on the first trade SL and TP again and it does this until either MAX TRADE hit or end time or TP hit and then the EA closes down and starts again tomorrow.

Thanks!
Attached File(s)
File Type: mq4 TFX v1_3.mq4   20 KB | 3,172 downloads
File Type: mqh TFX_Include_v1_2.mqh   2 KB | 2,553 downloads
  • #6
  • Jan 22, 2008 12:13pm Jan 22, 2008 12:13pm
Thanks for sharing
  • #7
  • Jan 22, 2008 1:56pm Jan 22, 2008 1:56pm
No probs.
  • #8
  • Jan 23, 2008 5:35am Jan 23, 2008 5:35am
One Martingale system I am currently studying is a simple average down by doubling stake and bottom fishing.

Attached is the account summary made from 4 days of demo trading. More time is needed to assess the success of this system though.
Attached Image (click to enlarge)
Click to Enlarge Name: martingale.jpg Size: 84 KB
  • #9
  • Jan 23, 2008 10:25am Jan 23, 2008 10:25am
Excellent looks good... how does it work?

Quoting BurgerKing
One Martingale system I am currently studying is a simple average down by doubling stake and bottom fishing.

Attached is the account summary made from 4 days of demo trading. More time is needed to assess the success of this system though.
  • #10
  • Jan 23, 2008 10:44am Jan 23, 2008 10:44am
Hi BurgerKing, Please explain a bit more on your approach to the concept? How do you manage to martingale trade with "bottom fishing"?




[quote=BurgerKing;1816420]One Martingale system I am currently studying is a simple average down by doubling stake and bottom fishing.
  • #11
  • Edited 6:35pm Jan 23, 2008 6:00pm | Edited 6:35pm
You start with a very very small position - either way.

After every x pips in the red, you double the lot and adjust the TP to average with a profit. Repeat. Price dont move in one straight line without making a retrace. And when it retrace, it hits TP for the win.

Like all Martingale system, this is a Money Management system. This is why I started the DEMO on a 1M account trading 0.1 Lot. Yet after 5 days, the profit tell the whole story. 10% return in 5 days is a very very good return! Look at the drawdown: between 9K and 11K only (less than 1.2%) Each position averages a profit of $4~$6 and with 2000 positions made in 5 days, that equates to $100K as shown by the graph. Sometimes you get bonus making $10K in one set - but this is not what I want for it to do.

I am running this on GJ, EJ, UJ; I am contemplating on adding pairs that trends when Yen crosses ranges (vice versa). However, be careful not to "over trade"; overtrading results into too much exposure such that, one wont have enough money to double up.


I plan to go live. I am looking for trustworthy MT4 brokers offering 0.001 Lot sizes, max 10 lots, and max account size of >$5K. Any out there?
Attached Image (click to enlarge)
Click to Enlarge Name: martingale.jpg Size: 81 KB
  • #12
  • Jan 24, 2008 4:38am Jan 24, 2008 4:38am
Thanks BurgerKing, I have used many martingales (Goblin, Bless, Pipmaker etc...) in live accounts (nano - with IBFX) with mixed success. As you said, money management is the key. Thanks again.


Quoting BurgerKing
You start with a very very small position - either way.

After every x pips in the red, you double the lot and adjust the TP to average with a profit. Repeat. Price dont move in one straight line without making a retrace. And when it retrace, it hits TP for the win.

Like all Martingale system, this is a Money Management system. This is why I started the DEMO on a 1M account trading 0.1 Lot. Yet after 5 days, the profit tell the whole story. 10% return in 5 days is a very very good return! Look at the drawdown: between 9K and 11K only (less than 1.2%) Each position averages a profit of $4~$6 and with 2000 positions made in 5 days, that equates to $100K as shown by the graph. Sometimes you get bonus making $10K in one set - but this is not what I want for it to do.

I am running this on GJ, EJ, UJ; I am contemplating on adding pairs that trends when Yen crosses ranges (vice versa). However, be careful not to "over trade"; overtrading results into too much exposure such that, one wont have enough money to double up.


I plan to go live. I am looking for trustworthy MT4 brokers offering 0.001 Lot sizes, max 10 lots, and max account size of >$5K. Any out there?
  • #13
  • Jan 24, 2008 5:26am Jan 24, 2008 5:26am
Quoting BurgerKing
You start with a very very small position - either way.

After every x pips in the red, you double the lot and adjust the TP to average with a profit. Repeat. Price dont move in one straight line without making a retrace. And when it retrace, it hits TP for the win.

Like all Martingale system, this is a Money Management system. This is why I started the DEMO on a 1M account trading 0.1 Lot. Yet after 5 days, the profit tell the whole story. 10% return in 5 days is a very very good return! Look at the drawdown: between 9K and 11K only (less than 1.2%) Each position averages a profit of $4~$6 and with 2000 positions made in 5 days, that equates to $100K as shown by the graph. Sometimes you get bonus making $10K in one set - but this is not what I want for it to do.

I am running this on GJ, EJ, UJ; I am contemplating on adding pairs that trends when Yen crosses ranges (vice versa). However, be careful not to "over trade"; overtrading results into too much exposure such that, one wont have enough money to double up.


I plan to go live. I am looking for trustworthy MT4 brokers offering 0.001 Lot sizes, max 10 lots, and max account size of >$5K. Any out there?
Interesting. I get the feeling you're being deliberately cryptic.
Is your strategy a stop and reverse? It sounds like you adjust your TP AND position size. I use a similar strategy. The benefit being that your neither your TP or your position size get too big.

What interests me is the amount of profit you're making with your system and the fact that you made about 2000 trades in 5 days. The system I use which sounds similar to yours only makes about 100 trades maximum per week and the profit is nowhere near as high as yours.
I use MBT with Neoticker and got an EA programmed in Delphi to run the strategy. So if you want to use MBT for your strategy maybe we should talk.
  • #14
  • Jan 24, 2008 6:55pm Jan 24, 2008 6:55pm
There is one flaw in this system: Martingale

Martingale system has the inherent flaw such that, the odds will catch up sooner or later. You can delay this odd with larger account size - then again, you may end up with larger losses.

Yesterday, all yen pairs tanked continously upward. Short positions kept doubling until finally, you either croak or it gives you the needed retrace. I finally got the retrace. But what scares me is the huge lot size needed to pull it off - thus why the drawdown this time increased to 4%. But greater drawdown equates to much greater profit as you would see on the huge bump in the graph below.


djmetric, this is not a stop and reverse kind of martingale (like FXTradePro's). its a simple double up until it headed your way. Range market is this system's best friend. A Stop/Reverse system prefers "trending market".
Attached Image (click to enlarge)
Click to Enlarge Name: martingale.jpg Size: 81 KB
  • #15
  • Edited 8:21pm Jan 26, 2008 8:20pm | Edited 8:21pm
Quoting BurgerKing
djmetric, this is not a stop and reverse kind of martingale (like FXTradePro's). its a simple double up until it headed your way. Range market is this system's best friend. A Stop/Reverse system prefers "trending market".

Hello BurgerKing,
Nice to meet you. Iīm Numeral from brazil.

this ea can double up the orders till 6 times only?

Can u share this system? tell more about it?

Regards.
  • #16
  • Jan 28, 2008 6:12am Jan 28, 2008 6:12am
Quoting BurgerKing
There is one flaw in this system: Martingale

Martingale system has the inherent flaw such that, the odds will catch up sooner or later. You can delay this odd with larger account size - then again, you may end up with larger losses.

Yesterday, all yen pairs tanked continously upward. Short positions kept doubling until finally, you either croak or it gives you the needed retrace. I finally got the retrace. But what scares me is the huge lot size needed to pull it off - thus why the drawdown this time increased to 4%. But greater drawdown equates to much greater profit as you would see on the huge bump in the graph below.


djmetric, this is not a stop and reverse kind of martingale (like FXTradePro's). its a simple double up until it headed your way. Range market is this system's best friend. A Stop/Reverse system prefers "trending market".
Sounds like just a plain old martingale. I don't see what you've done to improve your odds.
I know you're no stranger to martingale strategies because I've read some of your posts on this subject. So I'm guessing there is more to your idea that you're not sharing. That's fair enough.
The only reason I'm following this thread is because you're posting to it and the fact that you're being so cryptic is making me curious :-)
  • #17
  • Jan 28, 2008 9:32pm Jan 28, 2008 9:32pm
i wonder why you find what I posted as cryptic. EA for martingales are abound and one I use is a derivative from EAs found at tsd.

What differs from each other is the MM involved.
Instead of immediate x2, i do x1 for several levels before doing x2.

The reason behind this is to extend the levels it can sustain. Original Martingale EA is limited to 10 (or whatever your account size is). But by doing what I did, i can squeze in 2-3 more levels for the same account size.

Of course, I end with fewer trades/profits when market ranges. But my MM gives me the survivability when it trends strongly!

Latest screen shot shows it survived from yesterday's continuous selloff in asia session - no retrace there; but my MM survived!

In Martingale, each level counts!
Attached Image (click to enlarge)
Click to Enlarge Name: martingale.jpg Size: 85 KB
  • #18
  • Jan 29, 2008 4:46am Jan 29, 2008 4:46am
Quoting BurgerKing
i wonder why you find what I posted as cryptic. EA for martingales are abound and one I use is a derivative from EAs found at tsd.

What differs from each other is the MM involved.
Instead of immediate x2, i do x1 for several levels before doing x2.

The reason behind this is to extend the levels it can sustain. Original Martingale EA is limited to 10 (or whatever your account size is). But by doing what I did, i can squeze in 2-3 more levels for the same account size.

Of course, I end with fewer trades/profits when market ranges. But my MM gives me the survivability when it trends strongly!

Latest screen shot shows it survived from yesterday's continuous selloff in asia session - no retrace there; but my MM survived!

In Martingale, each level counts!
Sorry Burger. Just thought there was more to it.
My progression can handle 40 bounces but that's because I'm being really conservative. I had a close call using a more aggressive progression so decided to play it safe.
My "edge" is to increase my position size and TP gradually. But this strategy can only be used on a stop and reverse style martingale.
  • #19
  • Jan 30, 2008 12:02pm Jan 30, 2008 12:02pm
Quoting BurgerKing
i wonder why you find what I posted as cryptic. EA for martingales are abound and one I use is a derivative from EAs found at tsd.

What differs from each other is the MM involved.
Instead of immediate x2, i do x1 for several levels before doing x2.

The reason behind this is to extend the levels it can sustain. Original Martingale EA is limited to 10 (or whatever your account size is). But by doing what I did, i can squeze in 2-3 more levels for the same account size.

Of course, I end with fewer trades/profits when market ranges. But my MM gives me the survivability when it trends strongly!

Latest screen shot shows it survived from yesterday's continuous selloff in asia session - no retrace there; but my MM survived!

In Martingale, each level counts!
Hi Burger King,

Can u explain a little more?

If u donīt double yout lot, how u do?

ie ex: .. buy 1 lot, after 15 pips buy 1 lot again, after 15 pips buy 1 lot again... if the tp was 30 pips, u will lose money. with 2 open tradeīs u can equal your trades and donīt lose but will not win either.

Can u share more about this system? Maybe the original ea?
Thanks,
Numeral
  • #20
  • Feb 7, 2008 10:09pm Feb 7, 2008 10:09pm
Martingale Strategy has been very much misunderstood by a lot of people left and right. Though the principle of Martingale is to keep betting until you win, many fails to understand that you cannot do this indefinitely. However with Proper Money Management, you can.

Another explanation to Martingale is a simple normal trade any guru would teach. Assume you studied the chart and placed a LONG; a disciplined trader would place Stops and LIMIT. When you lose, you study the chart again and trade according to what the chart would say. In this example, you are actually a Martingale - because you went back to trade again. Gurus would teach you to trade conservatively such that you dont lose your account in a trade or 10. Well, so is Martingale!

In my experience, Martingale is an exercise in Absolute Money Management. You enter your position such that you survive. Some Guru would teach you to survive 10 bad trades, some teaches to survive 20 trades, etc.

Below chart, I changed my survival settings from 15 to 75 and the slope of growth showed a smoother climb. Check the huge spikes around 2500 and 3500 trades and check the growth onward as concrete result. There is one setting that extends it all the way to 150 to survive.

Numeral, my GRID MARTINGALE strategy is same/similar to what you will find at www.forex-tsd.com.
* I am not using any "STOP and REVERSAL" type Martingale - this is prone to "Stop Hunting" and in my study dangerous. No Broker can Hunt your Stop if there is not STOP.
* I first double the lottage every x pips distance and set the TP 5-10 pips above the average price to ensure it always end with an average WIN.
* Then I change the lottage growth rate from x2 to x1.1 at a smaller grid distance; each turn, the average price and TP level would increase; I get more trades positions made, but the lot growth curve is controlled and almost linear such that, it can survive far more than any prolific rally/unwinding in the market.

Sorry, I cannot share the code. It was commission a year ago and though I am the author, I am not at liberty to share. I can share the principle which is Money Management.
Attached Image (click to enlarge)
Click to Enlarge Name: martingale.jpg Size: 85 KB
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