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Martingale EA - Alternative to FXTradepro

  • #1
  • First Post: Dec 24, 2007 6:00am Dec 24, 2007 6:00am
Hello,

I know some of you have been following FXTradepro Martingale System and it is only available with an expiry, but I have a similar EA which has no expiry and which you can discuss here and modify as pleased.

This is not something I have created nor am the owner or responsible for in anyway.

I have attached a 10point3 code in working order, but please do test on demo, which was downloaded from:

http://www.forex-tsd.com/expert-advi...3-mq4-316.html

 extern int Magic = 772188;
Magic number to let the EA recognize the trade with this tag are opened by itself instead of manual trades

extern double TakeProfit = 10;
Take profit when the 1st position reached this pips

extern double Lots = 0.01;
Lot size to start trading when money management not in use

extern double InitialStop = 160;
Stop loss to be place at the last order

extern double TrailingStop = 0;
Trailing Stop

extern int MaxTrades = 10;
Total orders allowed to be trade on the same pair

extern double Multiplier = 3;
If the initial position loss, the next order lot size will be multiply by this figure

extern int Pips = 5;
If the initial position loss by this pips, open the next order

extern int OrderstoProtect = 4;
When total orders reaches this figure, the EA will close off position as fast as possible without waitting for the trades to touch TP, atleast close them all when breakeven

extern bool Money_management = true;
Money management

extern int AccountType = 1;
0: Standard account(NorthFinance,MiG,Alpari Russia)
1: Normal account(Alpari UK, Velocity, Interbank Standard)
2: InterbankFX's NANO Account

extern double risk = 0.5;
Use this % of margin for the 1st trade - Only applicable when Money Management=true

extern bool ReverseSignal = false;
Reverse the buy/sell signal

extern int Fast_EMA = 12;
extern int Slow_EMA = 26;
extern int Signal_SMA = 9;
MACD setups

extern int Shift = 1;
Signal lagging(bar shift)

extern int TradingRange = 0;
If set to 30, MACD will only trade when cross above at 0.30/below -0.30 for USDJPY or above 0.0030/below-0.0030 for EURUSD

extern bool UseTimeFilter=true;
Activate time filter

extern int StopTrade = 13;
Stop trading hour(broker time)

extern int StartTrade = 18;
Restart trading hour(broker time)

Regards,
Guess
Attached File(s)
File Type: mq4 10p3v0.03.mq4   11 KB | 2,992 downloads
  • #2
  • Dec 24, 2007 8:47am Dec 24, 2007 8:47am
Hi Guess,

Did GridTrader ever respond to your post? I must admit that I feel sorry for Dan. In reading his posts it appears that he's sincere about trying to help other traders. I suppose that the only reason why he was charging for the EA was to subsidize the cost of operating and maintaining his private forum. However, I understand the precept of ForexFactory, which is to develop and share trading ideas/systems without the commercialism aspect, but more of an academic and communial perspective. This is indeed a noble creed. Hopefully, many will continue to abide by it.

Thanks for you EA contribution. Have you compared it to Dan's EA? It would be interesting to see how closely GridTrader's EA resembles Dan's EA.

Thanks,

Walt


Hi GridTrader...

Why don't you release the EA, if you have it? Or Create a seperate thread and provide that EA to others to use... if you don't mind that is?

Thanks,
Guess

Quote:
Originally Posted by GridTrader http://www.forexfactory.com/images/buttons/viewpost.gif
No need to ask, and that excel file is a copy of something I made personally. Are you telling me that a file I created from a blank and empty page, was really not created by me, but created by you?
  • #3
  • Dec 24, 2007 1:48pm Dec 24, 2007 1:48pm
Hi Walt,

No, I didn't actually, FX Trader closed the thread... for the best I think... what's the point of discussing something you cannot have if you buy, which defeats the concept of FF.

I do feel sorry for him, but he should have known the morals of this site, like he asked me not to post the EA on his thread, which I respected and created a new thread for others to discuss and take up.

He should therefore understand the morals of this site and not done what he did, dug his own grave.

But there you go.

Regards,
Guess

Quoting jones247
Hi Guess,

Did GridTrader ever respond to your post? I must admit that I feel sorry for Dan. In reading his posts it appears that he's sincere about trying to help other traders. I suppose that the only reason why he was charging for the EA was to subsidize the cost of operating and maintaining his private forum. However, I understand the precept of ForexFactory, which is to develop and share trading ideas/systems without the commercialism aspect, but more of an academic and communial perspective. This is indeed a noble creed. Hopefully, many will continue to abide by it.

Thanks for you EA contribution. Have you compared it to Dan's EA? It would be interesting to see how closely GridTrader's EA resembles Dan's EA.

Thanks,

Walt


Hi GridTrader...

Why don't you release the EA, if you have it? Or Create a seperate thread and provide that EA to others to use... if you don't mind that is?

Thanks,
Guess

Quote:
Originally Posted by GridTrader http://www.forexfactory.com/images/buttons/viewpost.gif
No need to ask, and that excel file is a copy of something I made personally. Are you telling me that a file I created from a blank and empty page, was really not created by me, but created by you?
  • #4
  • Dec 24, 2007 1:58pm Dec 24, 2007 1:58pm
No need to feel sorry for me gentlemen.......Life is Good and Trading for 2007 has gone quite well.

Walt....Since you and I have developed a relationship over these past few months, I would just like to mention that the 10point3 EA is really nothing like the EA I use - as I am sure you will see. As I understand it, 10point 3 is not discretionary and also you cannot modify your lot sizing. So therefore you cannot compare them as apples to apples.

Anyway.....I will take my leave now. I am sure that I will continue to lurk about here at Forex Factory, but my posting days are over.

I wish you all well....

Dan
  • #5
  • Jan 26, 2008 8:00pm Jan 26, 2008 8:00pm
Hi people,

Good to see u got a great road to go.

What i can do to try better this EA maybe studing soe Math and improve anything from 10point3.

Other thing.. where i find about the Dan´s new EA ?

Thanks!
Regards,
NumeraL
  • #6
  • Jan 26, 2008 10:15pm Jan 26, 2008 10:15pm
10pt3 work never survived over here (and I'm glad) ... An illadvised stategy that a few folks refuse to put to rest over at TSD.
  • #7
  • Jan 27, 2008 1:17am Jan 27, 2008 1:17am
hi guess121,
Just found this thread and read your message from tsd as well.
I have been live trading my amended version of FxTraderPro for a month.

I disagree to amend the code from 10.3 . Why don't we change the code from Rhythm or Daily scalping EA (thread from Skyline http://www.forexfactory.com/showthread.php?t=21280
and
Tkimble
http://www.forexfactory.com/showthread.php?t=13507)

I have my amended version on that. Yet I dunno is it proper to post here.
Would I be banned or is it an improper action to do this ?

My version make changes from the above EA, yet I do need coder to solve my current bottleneck too.
  • #8
  • Jan 27, 2008 6:54am Jan 27, 2008 6:54am
Quoting tdion
10pt3 work never survived over here (and I'm glad) ... An illadvised stategy that a few folks refuse to put to rest over at TSD.
I see.
And u test other martingale system, maybe one good?
  • #9
  • Jan 27, 2008 6:56am Jan 27, 2008 6:56am
Quoting soul
hi guess121,
Just found this thread and read your message from tsd as well.
I have been live trading my amended version of FxTraderPro for a month.

I disagree to amend the code from 10.3 . Why don't we change the code from Rhythm or Daily scalping EA (thread from Skyline http://www.forexfactory.com/showthread.php?t=21280
and
Tkimble
http://www.forexfactory.com/showthread.php?t=13507)

I have my amended version on that. Yet I dunno is it proper to post here.
Would I be banned or is it an improper action to do this ?

My version make changes from the above EA, yet I do need coder to solve my current bottleneck too.
You can post the code that was already posted without fear of banning. The rules only say no promotion of commercial products. If I recall neither of those EAs are commercial. Weren't they developed at FF?
  • #10
  • Jan 27, 2008 10:42am Jan 27, 2008 10:42am
Please coder/user read it carefully before use. I am just a programming idiot although I studied some programming course before.

I do hope the EA could attract some EA programmers to solve some of my problems on this EA.

For end user, please do not directly use the EA. Martingale EA will kill you someday if you don't use probably.

Coder, if you are free please help me solve these problems in priority:
1. solve requote problem (if the EA met requote, it can't trade?! no matter I set my slippage) Suggestion: could it resume trading after certain time and trade again?
2. Place Stop Limit order in prior instead of use instant order after stop-loss triggered
3. My Start Time trigger seems can't work properly (my interbankfx sometimes work and sometimes can't work if it is outside the trading hours for long)
4.the EA could calculate the actual profit and loss pip and pip value(read from OrderHistory and current Bid/Ask)
5. Fully support fractional pips issue (there are one more decimal digit occur and many new MT4 brokers)
6. Start Placing immediately with the current Bid/Ask. This EA only place orders when the chart move 1 tick.

This is my current wish list.

Sorry for my poor English
Attached File(s)
File Type: mq4 StopAndReverse_v1_6_2.mq4   33 KB | 1,812 downloads
  • #11
  • Mar 20, 2008 9:14pm Mar 20, 2008 9:14pm
Courtesy FxTradepro, for those who would wish to attend to their trade once a day and do not want to use an ea, try the following.
Buy/sell Gbp/Jpy in the direction of the daily chart trend, with a lot size depending on your account balance. Set sl and tp both 200 pips. On hitting sl reverse with double the lot size with same sl and tp. Keep doing so until hitting tp. Pretty safe if you start with a small lot size, due to wide sl catering for whipsaws.
  • #12
  • Mar 21, 2008 2:45am Mar 21, 2008 2:45am
The question would be ... when to buy or sell ... trend can be defined easily, but the entry point is somewhat vaguely defined in your advice.. :-)


Quoting fffx
Courtesy FxTradepro, for those who would wish to attend to their trade once a day and do not want to use an ea, try the following.
Buy/sell Gbp/Jpy in the direction of the daily chart trend, with a lot size depending on your account balance. Set sl and tp both 200 pips. On hitting sl reverse with double the lot size with same sl and tp. Keep doing so until hitting tp. Pretty safe if you start with a small lot size, due to wide sl catering for whipsaws.
  • #13
  • Mar 21, 2008 11:41am Mar 21, 2008 11:41am
Entry point doesn't really matter in this strategy. An initial trade in the direction of the general trend of a daily chart is what I have tried and found ok. The important factor is you should have enough equity to sustain upto seven consecutive losses (In my case it has never gone beyond five) to recover all plus your profit eventually.
  • #14
  • May 9, 2008 1:33pm May 9, 2008 1:33pm
Quoting tdion
10pt3 work never survived over here (and I'm glad) ... An illadvised stategy that a few folks refuse to put to rest over at TSD.
tdion,

Thank you for your kind words. We're still ill with it, and still seeking a better way over the years. Different people, different preference. Some have huge stomach that can take the risk, some doesn't. Those who believe it will continue work on it. Wish you all the best.

For the rest of the guys/girls,

10point3 isn't martingale strategy, its a cost averaging system instead. I give you a brief description for both:

Martingale
1) Open a position, take profit should atleast same as stop loss or higher
2) When it hit stop loss, double the lot size on next entry
3) The next take profit should cover the loss for the previous trades

Cost averaging
1) Open a position, stop loss should be rediculous far apart from the reward
2) When the initial position suffer drawdown, double lot size trade the initial direction
3) Until a small retracement happens, cost are average with mild profit, close off all trades.

Regards,

David
  • #15
  • May 9, 2008 1:53pm May 9, 2008 1:53pm
Quoting davidke20
Cost averaging
1) Open a position, stop loss should be rediculous far apart from the reward
2) When the initial position suffer drawdown, double lot size trade the initial direction
3) Until a small retracement happens, cost are average with mild profit, close off all trades.
This is martingaling, no matter how you name it.

Regards - Xaron
  • #16
  • May 9, 2008 4:01pm May 9, 2008 4:01pm
Quoting Xaron
This is martingaling, no matter how you name it.

Regards - Xaron
I'm sorry, you're trying to show your intelligence? Or just wanting to find a way to insult my intelligence? Do your home work before you start posting. Here, let me help you a little bit:

Martingale
http://en.wikipedia.org/wiki/Marting...ting_system%29
http://www.investopedia.com/terms/m/...galesystem.asp

Average Cost
http://www.investopedia.com/terms/a/averagedown.asp
http://www.investopedia.com/terms/d/...taveraging.asp

For more information regarding 10point3 original idea, please visit:
http://www.thetradersresource.com/tr...ikeadealer.htm

I dont wanna hijaak the thread. If you're interested in 10point3/Cost averaging type of system, feel free to post them under the hood of 10point3. If you dont have anything better to say, dont say it. You're wasting my time, and you're wasting your own time.

Regards

David
  • #17
  • May 11, 2008 3:56am May 11, 2008 3:56am
Quoting soul
Please coder/user read it carefully before use. I am just a programming idiot although I studied some programming course before.

I do hope the EA could attract some EA programmers to solve some of my problems on this EA.

For end user, please do not directly use the EA. Martingale EA will kill you someday if you don't use probably.

Coder, if you are free please help me solve these problems in priority:
1. solve requote problem (if the EA met requote, it can't trade?! no matter I set my slippage) Suggestion: could it resume trading after certain time and trade again?
2. Place Stop Limit order in prior instead of use instant order after stop-loss triggered
3. My Start Time trigger seems can't work properly (my interbankfx sometimes work and sometimes can't work if it is outside the trading hours for long)
4.the EA could calculate the actual profit and loss pip and pip value(read from OrderHistory and current Bid/Ask)
5. Fully support fractional pips issue (there are one more decimal digit occur and many new MT4 brokers)
6. Start Placing immediately with the current Bid/Ask. This EA only place orders when the chart move 1 tick.

This is my current wish list.

Sorry for my poor English

I am interested by this EA but the problem is that it is not posible to test it on a long period of time in back testing.
I am obliged to restart the testing after each sequences trade.

With some change in the setting I arrived to optain goods results better than 10p3 in demo testing (on a short period of time).

My suggestion is to add an optionnal feature to restart a new sequence after the close of the previous one.

I am not a coder helas and not good in english too.

Somebody could help ?
  • #18
  • May 14, 2008 5:53am May 14, 2008 5:53am
Quoting davidke20
I'm sorry, you're trying to show your intelligence? Or just wanting to find a way to insult my intelligence? Do your home work before you start posting. Here, let me help you a little bit:
Let me help you, David.

1. Stop and reverse with doubling up: Martingale

2. Buy and buy and buy and ... and ....... in a down trend with doubling up: Martingale

It's that simple. Yes, you do cost averaging, but (1) and (2) will fail sooner or later. I use martingaling as well but I know that the day will come where I get a margin call. The market is right - always. And there will be strong trends without a reversal.

Regards - Xaron
  • #19
  • Nov 13, 2008 1:25pm Nov 13, 2008 1:25pm
I've been testing a Martingale EA named muli-lot-scalper on demo real time trading for more than half year, it seems a good EA needs to be used with caution, then I found a problem I could not solve.


The EA will not work right unless I set the start lot higher than 0.05. -------- When the lot is less than .05 lot, for example .01lot, the EA will only open one .01 lot order, and another one will be opened after the first one being closed.
To check what I said, please load the EA and run the back test on interbankfx MT4, you will see in the resoult chart, there will be only 0.01 lot orders, never open 0.02, 0.04 .... as it supposes to. Another word, the EA will auto matically open the first order then stop working until the first order is closed.

And there is no problem at all if I set the lot as 0.05 or more, it will open 0.05, 0.1, 0.2 ..........


I contacted with the interbankfx.com, they told me that it's not MT4 problem, it might be EA coding problem, but I could read and could not find any written the defaul the lot must be more than 0.05. ( interbankfx MT4 minimen lot is 0.01 )
Plus, they could explain why the EA works fine when the setting is 0.05 or higher, but won't work when lot set as less than 0.05.



I am confused, is it EA coding problem or the interbankfx.com platform problme?
Does your Martigale EA acting the same or just mine?
Attached Images
  • #20
  • Aug 18, 2009 6:41am Aug 18, 2009 6:41am
http://www.forexfactory.com/showthre...86#post2963886
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