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anybody using martingale system with success??

  • #21
  • Dec 15, 2009 3:47am Dec 15, 2009 3:47am
I hope someone can prove me wrong. I am man enough to admit when I am wrong. But I have tested literally hundreds of variations, some that were posted and others that I tried to create on my own. The example I posted was based on what the second poster put up as a good method of martingale. Go back and look at it, that example is not a double up type. He only adds one (1,2,3,4 instead of 1,2,4,8). That's a tough way to sweat out 18-20 or so pips from the market. The numbers do not lie no matter how great the fantasy seems.
  • #22
  • Dec 15, 2009 4:06am Dec 15, 2009 4:06am
Quoting Cobra
The above highlighted sentence is precisely what i have been talking about in my post. Only lazy people keep on doubling up untill there is nothing left.

Your answer is just what i was referring to in my post. Your studies are based on doubling up untill kingdom comes. This is why you have this perception about the topic.

Please read carefully what i was trying to say .........

"Even limited and modified martingale systems will eventually wipe you out."

I absolutely and strongly disagree with that. You do not know how other...
Hi Cobra,

would you mind giving us an example of succesful methods?

I have tried maybe thirty different types of martingale strategies and I am struggling.
  • #23
  • Dec 15, 2009 4:24am Dec 15, 2009 4:24am
Instead of using Martingale system, which double your bet every turn, why don't you guys using Fibonacci sequence?

I'll show the comparison here.

Martingale = 0.01, 0.02, 0.04, 0.08, 0.16, 0.32, 0.64, 1.28
Fibonacci = 0.01, 0.02, 0.03, 0.05, 0.08, 0.13, 0.21, 0.34

At least using Fibonacci sequence, your bet is accrued not at lightning speed...
  • #24
  • Dec 15, 2009 4:26am Dec 15, 2009 4:26am
Quoting magnumfreak
quite the contrary, I studied and analyzed martingale systems for over 6 months last year. I have never seen one method that involves martingale that could sustain growth over a long period of time. Yes they work under ideal conditions, however one long trend that goes against you will wipe the account clean. Even limited and modified martingale systems will eventually wipe you out.

I would love for someone to post a martingale system that actually works consistently. I can almost guarantee you that there will be a time during the last year that...
You can use Martingale system if you're trading with nano account.
  • #25
  • Dec 15, 2009 5:09am Dec 15, 2009 5:09am
Quoting waltini1
Hi Cobra,

would you mind giving us an example of succesful methods?

I have tried maybe thirty different types of martingale strategies and I am struggling.
I have send you a private message
Never Ever Give Up!
  • #26
  • Dec 15, 2009 7:43am Dec 15, 2009 7:43am
Quoting Cobra
I have send you a private message
Way to go Cobra. most guys talk on there on behalf--- what happen to them. What is learn how to trade --- teach me
PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #27
  • Dec 15, 2009 9:42am Dec 15, 2009 9:42am
Quoting juwaini
Instead of using Martingale system, which double your bet every turn, why don't you guys using Fibonacci sequence?

I'll show the comparison here.

Martingale = 0.01, 0.02, 0.04, 0.08, 0.16, 0.32, 0.64, 1.28
Fibonacci = 0.01, 0.02, 0.03, 0.05, 0.08, 0.13, 0.21, 0.34

At least using Fibonacci sequence, your bet is accrued not at lightning speed...
Is it better to blow an account in fib intervals?
  • #28
  • Dec 15, 2009 11:48am Dec 15, 2009 11:48am
I can only think of one instance where doubling up after a loss is a successfull strategy in the long term. Say for example you are using a breakout strategy whereby you place a straddle trade both above and below your chosen "box" timeframe. So the first trade results in a loss. Then, you double your lot size on the opposite trade. Why? Because your first trade breakout was likely a false head-fake, and you were on the wrong side of the current trend. When your opposite side trade order is filled, it is much more likely that you are now on the correct side of the trend and will end up in a profit. Today, I tested this approach on a breakout strategy I have been using, and so far it has won 15 times out of 19 trading sessions...and the last 9 times in a row. Greedy person that I am. I am considering tripling or guadrupling the second trade because of the success ratio!

Be careful my friends...don't try this at home!
  • #29
  • Dec 15, 2009 12:47pm Dec 15, 2009 12:47pm
I have many that are successful


Quoting Bobcat2
I can only think of one instance where doubling up after a loss is a successfull strategy in the long term. Say for example you are using a breakout strategy whereby you place a straddle trade both above and below your chosen "box" timeframe. So the first trade results in a loss. Then, you double your lot size on the opposite trade. Why? Because your first trade breakout was likely a false head-fake, and you were on the wrong side of the current trend. When your opposite side trade order is filled, it is much more likely that you are now on the...
Attached File(s)
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PROFITABLE TRADERS ARE NOT LUCKY BUT ARE WELL PREPARED
  • #30
  • Dec 15, 2009 1:22pm Dec 15, 2009 1:22pm
Quoting Cobra
I have send you a private message
Please share your successful Martingale strategies with me, as well.

Much appreciated!
BC
  • #31
  • Dec 15, 2009 1:57pm Dec 15, 2009 1:57pm
Quoting zamanib
I have many that are successful
Thanks for posting your Hedging Lots Strategy. However...

No disrespect, but if this strategy is successful...I'd like to see an unsuccessful example!

If you get caught in a ranging market and you keep increasing your lot exposure ten straight times just to make 30 pips, then you end up risking 768 times as much as your initial trade risk. Sorry...that's foolhardy to me. If I'm wrong, surely you can prove otherwise.

If not, try again...
  • #32
  • Dec 15, 2009 2:50pm Dec 15, 2009 2:50pm
Quoting billbss
Is it better to blow an account in fib intervals?
It is harder to blow your account in fib interval.
  • #33
  • Dec 15, 2009 4:19pm Dec 15, 2009 4:19pm
In my four years of testing martingale strategies I have only really seen two that have stood the test of time.

One is the thread by nanningbob on this forum, the 60 x 90 one. He does use quite a bit of discretion when it gets ugly but he is very successful and a great person, very helpful.

Another website I looked at (but can't remember) had a very different strategy. They mainly traded two currencies the AUDNZD and the EURCHF (independantly of each other). They examine the historical range of the currency, divide it into the top half and the bottom half. When the currency is in top half like it is now for the AUDNZD they only take sells. Each order has a take profit but no stop loss. The orders are spaced apart depending on the size of your account and how much drawdown you can handle. The theory is that the continual banking of the take profits will overcome the drawdown and provide you with an income. Maybe stricly not a martingale but it is a no losers strategy.
  • #34
  • Dec 15, 2009 4:43pm Dec 15, 2009 4:43pm
I kinda used my own, averaging down technique, all went GREAT for 2 months without 1 loser, 23 over all profits in a row, then I got stupid and traded against the trend on EJ 1 of those sunday open 300pip moves and pretty much blew my little account.

So yes they can and do work but you need :-

1. Preferably a choppy range bound market, nothing moves to far to wipe you out.

2. A good trend system, some pull back to load into the direction is fine but the worst your initial entry the higher the odds of a account melt down.

3. The state of mind to see when the market is going against you then just to exit everything and walk away before it destroys you.

4. A say 25% account loss Max risk where your SL's all kick in.

5. If your going to risk your entire account, you need to hold for longer than +10 on average say, risking 100 pips against you, to take 10pips even with a 98% win rate will cost you sooner or later, atleast if you've got some +50's in there your getting somewhere and that will cover your losses.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #35
  • Dec 16, 2009 2:01am Dec 16, 2009 2:01am
Quoting Turveyd
I kinda used my own, averaging down technique, all went GREAT for 2 months without 1 loser, 23 over all profits in a row, then I got stupid and traded against the trend on EJ 1 of those sunday open 300pip moves and pretty much blew my little account.

So yes they can and do work but you need :-

1. Preferably a choppy range bound market, nothing moves to far to wipe you out.

2. A good trend system, some pull back to load into the direction is fine but the worst your initial entry the higher the odds of a account melt down.

[b][i]3. The state...
Martingale works! Your point nr 3 & 4 is really all you have to do to make it a succesful strategy.

 

  1. Decide how far are you willing to double up and cut your losses thereafter.
  2. Do not start martingale when the market is trending
  3. The odds are in your favour when after a trending market price start forming a top or bottom.
  4. Start with absolute low leverage.
  5. Another way is to start martingale when your oscillator is highly overbought or oversold.
  6. Also do martingale with microlots on say 6 different currencies to spray your risk. Enter these currencies about 4 hours apart to spray your risk. Choose currencies which do not move for the same reasons. ( News )

Never Ever Give Up!
  • #36
  • Dec 16, 2009 3:33am Dec 16, 2009 3:33am
A trading strategy built exclusively around a money managment system is stupid.

However if a system first had a 70%+ win rate, then there might be some wisdom in doubling the risk if there was a loss, but only once or twice.
  • #37
  • Dec 16, 2009 6:12am Dec 16, 2009 6:12am
Quoting Cobra
Martingale works! Your point nr 3 & 4 is really all you have to do to make it a succesful strategy.
[list=1][*]Decide how far are you willing to double up and cut your losses thereafter.[*]Do not start martingale when the market is trending[*]The odds are in your favour when after a trending market price start forming a top or bottom.[*]Start with absolute low leverage.[*]Another way is to start martingale when your oscillator is highly overbought or oversold.[*]Also do martingale with microlots on say 6 different currencies to spray your...

5. Oscillators aren't there just me near previous high / lows which means your entering against the trend, fine in a choppy sideways market only.

For all the negativity about martingaling, for those who can't trade profitably it works out roughly the same, open 2 accounts 1 Martingaling 1 not, the martingale account will shoot off ahead ( unless you get unlucky towards the begining LOL ) where as the other account will drop steadily but they'll both end up killed sadly.

Having the account down 30% with so many lots in it's madness is crazy, I never had the balls to hold for big profits so regular down 30% mid trade to close +5% wasn't good sadly.

Saying that I still average down, why I have a 90%+ win rate, I have generally a 20-30SL on position 1, -10 area I'll add another position then again @-15 to -20, all out on the first SL.


Say I get in, 50, 40, 32 SL at 25 my max loss is 25 + 15 + 7 = 47, so for double my risk I've tripled my profits, it also means I only need a run to >41 to take some profit.

10% of the time I lose, 10% of the time I score 30+ x3 which basically covers the losers and 80% of the time I'm banking small regular 10 - 30pip winners ( over all 3 positions ).
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #38
  • Dec 16, 2009 8:34am Dec 16, 2009 8:34am
the only place where i use the martingale strategy is at roulette, and surprisingly it does work, but you need to know when to stop.
Twitter: @forexpokerpro
  • #39
  • Dec 16, 2009 11:31am Dec 16, 2009 11:31am
Quoting BBPI_fxtrader
the only place where i use the martingale strategy is at roulette, and surprisingly it does work, but you need to know when to stop.

Yep that does work, eventually but you only win back your original stake and the casino would of kicked you out well before then!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #40
  • Dec 28, 2009 8:35pm Dec 28, 2009 8:35pm
Martingale is an entrance tactic not a system. doubling on an static one entry system is dumb... no exception.. fading tho... has merit but you martingale fade where reward is > risk at stop of the fade. Not hard a monkey could be trained to trade profitably.
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