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  • #21
  • Mar 5, 2013 9:46am Mar 5, 2013 9:46am
Quoting enochben
While not answering your question as to method. He is able to make money with negative pips by doubling up after a loss. Go review his trade list and you will see he is pretty consistant at taking a 10 pip loss when wrong and booking less when right but with larger size. In other words, he knows what he;s doing!
I take back what I said - the open trade does not appear to have a stop loss.... 20+ pip loss with 3 lots will wipe out any previously mentioned consistency...
  • #22
  • Mar 5, 2013 12:26pm Mar 5, 2013 12:26pm
Quoting enochben
I take back what I said - the open trade does not appear to have a stop loss.... 20+ pip loss with 3 lots will wipe out any previously mentioned consistency...
I have noticed as well the last few days he has not stuck to his s/l method. Yet he has recovered nicely. Would it appear that besides using an martingale method, perhaps he is using a very specific entry price. As I said, when he closes positions in green they are normally 3 mins long. Yet, he is in green right away. Then on the losses it the opposite. He also does not experience more then 3 losses in a row. Can anyone break down the trades to see how his entry points are made?
  • #23
  • Mar 5, 2013 1:58pm Mar 5, 2013 1:58pm
Have a look at this last trade he/she placed. Look how accurate his/her entry was. He left a few pips on the table, yet he entered right before that little surge in pips.
Attached Image (click to enlarge)
Click to Enlarge Name: lasttrade.PNG Size: 29 KB
  • #24
  • Mar 5, 2013 2:20pm Mar 5, 2013 2:20pm
Someone else who thinks the path to riches is through the good ol' Martingale betting system. I guess they aren't familiar with how this always turns out.
  • #25
  • Mar 5, 2013 3:20pm Mar 5, 2013 3:20pm
Quoting Kanzler
Someone else who thinks the path to riches is through the good ol' Martingale betting system. I guess they aren't familiar with how this always turns out.
How does it "ALWAYS" turn out? It appears that he/she is using it in his method. Yet, he has not even come close to margin call the last 4 months. Reality is with this sort of profit. One would be insane to not withdraw.
  • #26
  • Mar 5, 2013 3:31pm Mar 5, 2013 3:31pm
Quoting Jesseryn
How does it "ALWAYS" turn out? It appears that he/she is using it in his method. Yet, he has not even come close to margin call the last 4 months. Reality is with this sort of profit. One would be insane to not withdraw.
If you use it as a permanent method, mathematics dictates that you will always end up with a bankrupt account, as the only way it can always work is if you have an infinite bankroll. It can take a day, a month, or even a year, but the more trades you take the closer you are to the one string of losers that will quickly ruin you as your losses exponentially grow.
  • #27
  • Mar 5, 2013 3:40pm Mar 5, 2013 3:40pm
I wouldn't waste any more time worrying about what he/she is doing. Lets get back to what we all do.
  • #28
  • Mar 5, 2013 3:48pm Mar 5, 2013 3:48pm
Quoting Kanzler
If you use it as a permanent method, mathematics dictates that you will always end up with a bankrupt account, as the only way it can always work is if you have an infinite bankroll. It can take a day, a month, or even a year, but the more trades you take the closer you are to the one string of losers that will quickly ruin you as your losses exponentially grow.
I see what it is you mean. Yet martingale is simply just a "way" of wagering. The system used for entry is just as important. Which is why I'm awaiting an answer from the Topic creator.
  • #29
  • Mar 5, 2013 3:58pm Mar 5, 2013 3:58pm
Quoting Jesseryn
I see what it is you mean. Yet martingale is simply just a "way" of wagering. The system used for entry is just as important. Which is why I'm awaiting an answer from the Topic creator.
I feel the need to clarify that anybody who uses it will face the destruction of their account, it's inevitable, unless they win every time. Incorporating martingale is like adding an expiration timer to your account.
  • #30
  • Mar 6, 2013 12:48am Mar 6, 2013 12:48am
We may have different opinions as traders. But imo that is his method and that is his money. If he can earn money even with negative pips then no point of criticizing the system.
  • #31
  • Mar 6, 2013 1:17am Mar 6, 2013 1:17am
Quoting Kanzler
I feel the need to clarify that anybody who uses it will face the destruction of their account, it's inevitable, unless they win every time. Incorporating martingale is like adding an expiration timer to your account.
Well if what your saying is a fact. Then why are we trading? It is proven that swingers blow their account using very small equity. So do scalpers, and even people who use martingale. Although losing is inevitable. It doesn't mean that a margin call is. Not to mention what one does with his/her profit when they have it means everything in the world. This account owner has withdrawn way more then what he originally deposited. That is an excellent sign of money/risk management.
  • #32
  • Mar 6, 2013 1:39am Mar 6, 2013 1:39am
Quoting Jesseryn
Well if what your saying is a fact. Then why are we trading? It is proven that swingers blow their account using very small equity. So do scalpers, and even people who use martingale. Although losing is inevitable. It doesn't mean that a margin call is. Not to mention what one does with his/her profit when they have it means everything in the world. This account owner has withdrawn way more then what he originally deposited. That is an excellent sign of money/risk management.
Martingale has been discussed ad nauseum on this forum....and if you really don't believe me, in the modern age we have the power of computers to run backtesting of such strategies. Easy enough to write into computer code, and there are probably a ton of EAs out there already prepared for use. The idea that someone can use martingale and have "risk management" is laughable at best. I don't mean to be snide here but I don't want you to give others the idea that this is some sort of clever trick with which you can foil the market - it doesn't work that way. You can only ever beat the market when you have a legitimate edge, not a money management trick. When you have a legitimate edge and use proper risk management, your risk of going bankrupt is miniscule. When you use martingale it's practically guaranteed.
  • #33
  • Mar 6, 2013 2:23am Mar 6, 2013 2:23am
Quoting brendad
We may have different opinions as traders. But imo that is his method and that is his money. If he can earn money even with negative pips then no point of criticizing the system.
I never understood why members have to be so critical of "what will happen in the future" the reality is from his initial deposit he is up over 250% That to me is impressive. He is also not compounding which displays excellent money management.
  • #34
  • Mar 6, 2013 2:47am Mar 6, 2013 2:47am
Quoting Kanzler
Martingale has been discussed ad nauseum on this forum....and if you really don't believe me, in the modern age we have the power of computers to run backtesting of such strategies. Easy enough to write into computer code, and there are probably a ton of EAs out there already prepared for use. The idea that someone can use martingale and have "risk management" is laughable at best. I don't mean to be snide here but I don't want you to give others the idea that this is some sort of clever trick with which you can foil the market - it doesn't work...
It appears your failing to see the point here. Martingale is simply the increased % of your account AFTER a loss. Yet, what if a person doesn't experience more then 4 losses in a row? How could martingale not work there? Look at the thread starters last trade. He took a short position for 1.00 Once the price CLOSED across his entry, he then took the loss of 80 dollars, and went long 3.00 From the moment he went 3.00 he was never down more then 3 pips. He ended up earning almost 3x his loss. That is Martingale + non-bias trading if you ask me. From what I've read online. Most people just increase lot size after a loss, yet they follow the same direction of the losing trade. That isn't what the top creator is doing.
  • #35
  • Mar 6, 2013 2:51am Mar 6, 2013 2:51am
Here is proof of the entry. Not to mention his take profit would of been hit right on the nose. He left 600usd on the table.
Attached Image (click to enlarge)
Click to Enlarge Name: todayagain.PNG Size: 38 KB
  • #36
  • Mar 6, 2013 2:53am Mar 6, 2013 2:53am
He is now ranked number 9 this month on forexfactory. Great Job
  • #37
  • Mar 6, 2013 2:55am Mar 6, 2013 2:55am
Quoting Jesseryn
It appears your failing to see the point here. Martingale is simply the increased % of your account AFTER a loss. Yet, what if a person doesn't experience more then 4 losses in a row? How could martingale not work there? Look at the thread starters last trade. He took a short position for 1.00 Once the price CLOSED across his entry, he then took the loss of 80 dollars, and went long 3.00 From the moment he went 3.00 he was never down more then 3 pips. He ended up earning almost 3x his loss. That is Martingale + non-bias trading if you ask me....
Your "what if" postulation is the key issue here. If you really think you won't get four losers in a row at some point then you're very much mistaken. What you want is the holy grail and you're trying to find that in the martingale betting system. There's a reason casinos don't mind players using it. In fact I wouldn't be surprised if they encouraged it!
  • #38
  • Mar 6, 2013 3:18am Mar 6, 2013 3:18am
Quoting Kanzler
Your "what if" postulation is the key issue here. If you really think you won't get four losers in a row at some point then you're very much mistaken. What you want is the holy grail and you're trying to find that in the martingale betting system. There's a reason casinos don't mind players using it. In fact I wouldn't be surprised if they encouraged it!
Actually "what if" is a theory we use in everything. Only because your assuming this person will experience 4 losses in a row. At which point you say he will burn his account. The reality is he hasn't done it as of yet. He has withdrawn more then what he has originally deposited. And he continues to withdraw weekly. It also appears to me that this trader also thinks with the "what if" theory. "What if" the trade goes against me? Then he just takes the opposite direction.
  • #39
  • Mar 6, 2013 3:35am Mar 6, 2013 3:35am
Quoting Jesseryn
Actually "what if" is a theory we use in everything. Only because your assuming this person will experience 4 losses in a row. At which point you say he will burn his account. The reality is he hasn't done it as of yet. He has withdrawn more then what he has originally deposited. And he continues to withdraw weekly. It also appears to me that this trader also thinks with the "what if" theory. "What if" the trade goes against me? Then he just takes the opposite direction.
You can also use it in a casino and walk out with some money with a little luck. But hey whatever - what do I know, right? Have fun being a billionaire with your no fail money making method. Like I said this has been discussed at length on this forum and I'm not going to waste more time trying to show you that this is a path to financial ruin. You'll just have to experience it for yourself I guess.
  • #40
  • Mar 6, 2013 3:45am Mar 6, 2013 3:45am
Quoting Kanzler
You can also use it in a casino and walk out with some money with a little luck. But hey whatever - what do I know, right? Have fun being a billionaire with your no fail money making method. Like I said this has been discussed at length on this forum and I'm not going to waste more time trying to show you that this is a path to financial ruin. You'll just have to experience it for yourself I guess.
Thank you for the advice. I would take it your speaking from personal experience (Of blowing your own account).
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