QuoteDislikedIf 500 pips wipes out 95%......
So, all you successful martingaler's... what are some basic guidelines?? Example: double up every 200 pips??
I'm asking because I am most definetely NOT a successful martingaler
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DislikedPeople who use averaging down or martingale are people that cannot accept losses because they cause to them a psychological trauma, they think like kids when they trade: I'm right! I'm right! The market is wrong! I can't lose! But they are trying to get money from the market, and if they don't adapt to it, they will never became profitable traders. Because they prefer to lose everything before lose a trade, and this is that always happens.Ignored
DislikedApples and oranges. What you did is world's apart from the proper way to handle it. If 500 pips wipes out 95% of your account you were way over leveraged and then using martingale is just stupid to begin with. Why not give examples that are applicable to the proper way of scaling into a position? All the "horror stories" on this thread for examples of why it's a bad idea are examples of people screwing it up. All that proves is if you don't what you're doing, don't do it!Ignored
DislikedWhy bookmark it? Dollar amounts are all relative, we work in percentages, and in this context it shouldn't matter whose money it is or how much it is, why would it make any difference?Ignored
QuoteDislikedWhen there's real money on the table, it creates a diametric shift in how one trades (or should), and a more intense focus on getting the analytics right rather than cutting a wide bearth for error in judgement.
DislikedPeople who use averaging down or martingale are people that cannot accept losses because they cause to them a psychological trauma, they think like kids when they trade: I'm right! I'm right! The market is wrong! I can't lose! But they are trying to get money from the market, and if they don't adapt to it, they will never became profitable traders. Because they prefer to lose everything before lose a trade, and this is that always happens.Ignored
DislikedSo, for people who use this method... how often do you add to your loosing positions?? (example: every 50 pips)Ignored
DislikedSo, all you successful martingaler's... what are some basic guidelines?? Example: double up every 200 pips?Ignored
DislikedYou're not 'adding to a losing position' by averaging down if you are building a position with predefined risk. The trade isn't a loser until it reaches a predefined point where your trade idea is wrong. Your wording shows you have different mindset and do not see the trade in the same way since you are thinking a trade is a loser because it is in drawdown.
Now for the scalpers in the crowd a drawdown may equal a loser, but not necessarily for the swing or position trader.Ignored
DislikedYou're not 'adding to a losing position' by averaging down if you are building a position with predefined risk. The trade isn't a loser until it reaches a predefined point where your trade idea is wrong. Your wording shows you have different mindset and do not see the trade in the same way since you are thinking a trade is a loser because it is in drawdown.
Now for the scalpers in the crowd a drawdown may equal a loser, but not necessarily for the swing or position trader.Ignored
DislikedHell, why commit to the market in a big way at all? (I.E. Position Trading, Swing Trading). Unless you have a couple mill to throw around? And even then, why?Ignored
DislikedSo, for people who use this method... how often do you add to your loosing positions?? (example: every 50 pips)
Also, what time frame are you mostly using??
I'd like to hear from people who are successfully using this strategyIgnored
DislikedWhat does capital amount have to do with it? I assume you're challenging profitability of slower trading against faster trading, but the fact is that profitability depends on the trader, not the timeframe.
Position traders can be flexible, and time it takes to build, close, or reverse a position vary significantly. It may take days (or less), or weeks (or more).
Having a good idea of the direction of the market is a massive advantage, one that I think minimises the difference in profitability between fast and medium timeframes.
Position traders...Ignored
DislikedThe live trading screen of a hedging adapted Martingale is here. Entries are based on 160 pips and exits are managed by the EA using TS and group profit on each pair traded. Tiny lots, 10k+ balance, low dd. It's done ok for a few years.Ignored