A simple martingale system?

I do something very similar, but no martingale.
I use 100pip stop and no target and i short the red candle if the cci is going the same direction. I enter two or three uncorrelated pairs a day

I think this is the "Gamblers Fallacy". You feel that if you've lost 5 times in a row, your odds of winning your 6th trade have increased. Unfortunately in your coin flip, each event is independent. Over the short term your system should be very successful. However, being that there's only two outcomes, over the long-term i don't see 10 in a row being that uncommon. As I'm sure has been mentioned, the only way to theoretically succeed with martingale is to increase your odds of winning every time you lose.

Lets play with some math. I'm not good at it; someone else should verify.

odds of losing =.5
odds of losing 10x in a row= .5^10
.5^10= 0.0009765625
=0.097% chance of margin call
.097% x1000 trades = 97% chance of a margin call in the long-run

Now that's some questionable mathematics. But the bottom line is that by using martingale you've actually guaranteed you'll lose in the long run. Historically this system has never worked. You can rest assured that every "simple" iteration of the martingale has been extensively tested by people much smarter than us.

The fact that you've "cut out the noise" is not helpful either. your R:R is still 1:1.

Also, money management is never an edge.

http://www.forexfactory.com/showthread.php?t=211424

Have fun!

Instead of going in the direction of the previous day's candle, go in the direction of the day before the previous day's candle. This will greatly reduce the whipsaw draw down. Backtest and see the results.

According to me , martingale system is not simple as like others trading strategies. It always contains huge risk but not make sure the huge profits. That’s why I don’t like to use this trading approach.