Hello,
I thought I should start this thread about this great system I found...Although the general proble with martingale systems: 1. Needs a Huge account 2.Very great loss . These has been reduced to just One that is, Huge account.
It adopts a breakout strategy as its entry rule.
This system has been modified greatly to cater for loss due to spread,the only drawback is the fact that a considerable capital is needed.I must say that if you are willing to take small profits over a long period of time,you would succeed with this system...I dont want to conclude tha "IT NEVER LOSSES "{ Open to correction}.
PAIR : It works fine for these pairs :E/U,G/U,AUD/USD,USD/CHF { as far as tested }
TIMEFRAME: M15/M30.
TYPE OF TRADE : SHORT TERM
METHOD: MARTINGALE AND BREAKOUT
INDICATORS: NON
RULES OF THE TRADING SYSTEM
1. OPEN M15 CHART AT 6:00AM GMT
2. TAKE THE LOW(L) AND HIGH(H) BETWEEN 6:00 AND 3:00
3. SUBTRACT THE SPREAD FROM THE HIGH(H-S)=NEW HIGH (NH) AND ADD THE SPREAD TO THE LOW(L+S)=NEW LOW(NL)
4. PLACE A PENDING ORDER(X LOTS) AT THE NH AND NL.
5. IF ONE IS TRIGGERED TURN THE OTHER TO 3*x LOTS . I.E 3*LOT
DEFAULT TAKE PROFIT= DIFFERENCE BETWEEN HIGH AND LOW .( NOT NT OR NL)
DEFAULT STOP LOSS= 3*DIFFERENCE BETWEEN HIGH AND LOW
E.G
IF EU HIGH AND LOW AT 6AM IS 1.3312 AND 1.3286 RSPV.
DIFFERENCE =1.3312-1.3286 = 26PIPS
THEN NH=1.3312 - 2(SPREAD) =1.3310
NL=1.3286 + 2 = 1.3288
PLACE 0.1LOT LONG @ 1.3310
0.1LOT SHORT @ 1.3288
IF LONG IS TRIGGERED , CHANGE SHORT TO 0.3LOTS
TAKE PROFIT FOR LONG=1.3312+26 =1.3338
STOP LOSS FOR LONG= 1.3312-(3*26)= 1.3260 SAME MATHS FOR SHORT.
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NOW HERE IS THE MOST IMPORTANT POINT TO AVOID THE HUGE LOSS.
IF ONLY LONG IS TRIGGERD BEFORE TP....GOOD FOR YOU
IF BOTH LONG AND SHORT, I.E ENDS UP TAKING PROFIT IN SHORT DIRECTION.....GOOD FOR YOU
IF LONG IS FIRST TRIGGERED FOLLOWED BY SHORT AND PRICE HEADS BACK NORTH, THEN PLACE ANOTHER ORDER @ SAME NH BUT WITH 6*LOT...THE INCREAMENTAL LEVEL FOR PLACING THE LOTS IS IN THIS ORDER..0.1 ,0.3 ,0.6 ,1.2 ,2.4 ,4.8 ,9.6 ETC
MY STAT SHOW LEVEL 1-3 OCCURING 70% OF THE TIME, 4-5 OCCURING 25%,6 ABOVE OCCURING 5%.
MUCH OF THE TALK.... see attached pix
I thought I should start this thread about this great system I found...Although the general proble with martingale systems: 1. Needs a Huge account 2.Very great loss . These has been reduced to just One that is, Huge account.
It adopts a breakout strategy as its entry rule.
This system has been modified greatly to cater for loss due to spread,the only drawback is the fact that a considerable capital is needed.I must say that if you are willing to take small profits over a long period of time,you would succeed with this system...I dont want to conclude tha "IT NEVER LOSSES "{ Open to correction}.
PAIR : It works fine for these pairs :E/U,G/U,AUD/USD,USD/CHF { as far as tested }
TIMEFRAME: M15/M30.
TYPE OF TRADE : SHORT TERM
METHOD: MARTINGALE AND BREAKOUT
INDICATORS: NON
RULES OF THE TRADING SYSTEM
1. OPEN M15 CHART AT 6:00AM GMT
2. TAKE THE LOW(L) AND HIGH(H) BETWEEN 6:00 AND 3:00
3. SUBTRACT THE SPREAD FROM THE HIGH(H-S)=NEW HIGH (NH) AND ADD THE SPREAD TO THE LOW(L+S)=NEW LOW(NL)
4. PLACE A PENDING ORDER(X LOTS) AT THE NH AND NL.
5. IF ONE IS TRIGGERED TURN THE OTHER TO 3*x LOTS . I.E 3*LOT
DEFAULT TAKE PROFIT= DIFFERENCE BETWEEN HIGH AND LOW .( NOT NT OR NL)
DEFAULT STOP LOSS= 3*DIFFERENCE BETWEEN HIGH AND LOW
E.G
IF EU HIGH AND LOW AT 6AM IS 1.3312 AND 1.3286 RSPV.
DIFFERENCE =1.3312-1.3286 = 26PIPS
THEN NH=1.3312 - 2(SPREAD) =1.3310
NL=1.3286 + 2 = 1.3288
PLACE 0.1LOT LONG @ 1.3310
0.1LOT SHORT @ 1.3288
IF LONG IS TRIGGERED , CHANGE SHORT TO 0.3LOTS
TAKE PROFIT FOR LONG=1.3312+26 =1.3338
STOP LOSS FOR LONG= 1.3312-(3*26)= 1.3260 SAME MATHS FOR SHORT.
//////////////////////////////////////////////////////////////////
NOW HERE IS THE MOST IMPORTANT POINT TO AVOID THE HUGE LOSS.
IF ONLY LONG IS TRIGGERD BEFORE TP....GOOD FOR YOU
IF BOTH LONG AND SHORT, I.E ENDS UP TAKING PROFIT IN SHORT DIRECTION.....GOOD FOR YOU
IF LONG IS FIRST TRIGGERED FOLLOWED BY SHORT AND PRICE HEADS BACK NORTH, THEN PLACE ANOTHER ORDER @ SAME NH BUT WITH 6*LOT...THE INCREAMENTAL LEVEL FOR PLACING THE LOTS IS IN THIS ORDER..0.1 ,0.3 ,0.6 ,1.2 ,2.4 ,4.8 ,9.6 ETC
MY STAT SHOW LEVEL 1-3 OCCURING 70% OF THE TIME, 4-5 OCCURING 25%,6 ABOVE OCCURING 5%.
MUCH OF THE TALK.... see attached pix
Attached Image (click to enlarge)
It takes the Mind to Make Money.............
