I'm sorry I just don't see where January was a bad month. Profit targets were hit over half of the time and I only saw, at the most, 3 losses in a row. But as I said several times now, martingale strategies are not designed for those who do not have the capital or account equity to back up the trades that are taken.
Ignored
Then we both agree .... 3 losses in a row and having to martingale at
Quote
Disliked
after 3rd loss- x13
, and if that happens on two pairs .... that is martingale at x26 .... blindly ... No matter the account size, this is a lack of money management from my point of view.
Now, I don't want to discuss this further and will let everyone do as they feel comfortable.
X.
PS: My line of thinking is: Make the most of what you get (in terms of price action), not what you can (in terms of account size and risk exposure).
Then we both agree .... 3 losses in a row and having to martingale at Quote: after 3rd loss- x13
, and if that happens on two pairs .... that is martingale at x26 .... blindly ... No matter the account size, this is a lack of money management from my point of view.
Your view of Money Management will differ from everyone else, so if you don't like to martingale your trades, then by all means don't. Yes, you can and will run into this situation, but remember, a smart trader will have enough capital and equity to cover a worst case scenario on all the pairs he/she may trade, not just one. I think most traders wouldn't be stupid enough to properly fund an account that would sustain one pair, then try to trade 10 different pairs on the same account.That would just lack common sense.
Try lower value for FibLength parameter (indicator properties). A value of 2 will keep the fib's level length short enough so that those fib lines won't overlapped each other at H1 chart
Depends on your broker's time. If you are on GMT +0 then it's 03:00 to 06:00. Or if your at GMT +3, then you'd put in 06:00 to 09:00. Just compare your Market Watch time to the actual GMT time here.
Depends on your broker's time. If you are on GMT +0 then it's 03:00 to 06:00. Or if your at GMT +3, then you'd put in 06:00 to 09:00. Just compare your Market Watch time to the actual GMT time here.
Ignored
You mean I should not care about DST for London open? As my broker time is GMT +0 so I always use 3GMT - 6GMT for winter and summer?
You may use whatever time you want, but for the purposes of this thread we will be using this with GMT +0 (03:00 to 06:00) is you plan on following along.
Usd/Jpy had a couple of winning trades early for +21 pips each, then hit a strong reversal for a -27 loss. But price continued down strong to get another +21 pip winner. Price reversed again and finished out with another -27 pip loss.
No Martingale
+21
+21
-27
+21 -27 = +9 pips
With Martingale Multiplier
+21
+21
-27
+42 (+21 x 2) -27 = +30 pips
The next trade will start with a multiplier of 2 in the martingale sequence at the formation of the new box.
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Joined Feb 2010
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Status: J16 Student
|902 Posts
one suggestion about logging the trade status with pips. some trades give more pips and some less. right way to do is calculate number of winners and losers. i bet same risk on EACH trade. doesnt matter how many pips i get, lose. i lose 100$ or gain 73$, if i win 10 trades and lose 4 trades, i can calculte how many $ i made
overall this has been a profitable week and today i hit 3 targets within 2 bars of entry
