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Double the lot system...

  • #1
  • First Post: Jul 22, 2014 6:09pm Jul 22, 2014 6:09pm
hi every one
some one said that if you think on a new idea you have to know that @ least 3000 person around the world thought about it also

so i was thinking about a system i called it a (Double the Lot system) that you double the lot every time the position go in the wrong way
example
open trade on 1$ per pip and SL on 10pips and the position lost so close this one and open again on 2$ per pip and SL 10pips and going on
number of time you can double the lot depends of (your account size,start lot size,number of pips and the leverage)

so any one have more details how we can use this system or any old info about it

thanks.
  • #2
  • Jul 22, 2014 6:51pm Jul 22, 2014 6:51pm
Hello hamedmohd,

That's a classic system called the Martingale betting system. Put that term into a search engine and I'm sure you'll find plenty of info. Hope that helps.
  • #3
  • Jul 22, 2014 7:04pm Jul 22, 2014 7:04pm
many thanks will check it now
  • #4
  • Jul 22, 2014 7:19pm Jul 22, 2014 7:19pm
Quoting hamedmohd
many thanks will check it now

Hi

There is always mixed views on Martingale strategies, I am mixed in my views as well, it can be very profitable but extremely risky at the same time, do your research and know what you are getting into before trying it on a live account as many a trader has gone bust with this

Good Luck
  • #5
  • Jul 22, 2014 7:30pm Jul 22, 2014 7:30pm
You are trying to beat the casino here.

You will end with a margin call IN ANY CASE ... soon or later.
MT4/MT5 EAs/Indicators/Alerts coder
  • #6
  • Jul 22, 2014 7:34pm Jul 22, 2014 7:34pm
Quoting FerruFx
You are trying to beat the casino here. You will end with a margin call IN ANY CASE ... soon or later.
so it is a wrong way to go with it in forex !
  • #7
  • Jul 22, 2014 7:43pm Jul 22, 2014 7:43pm
hamedmodhd...


It's the the wrong way only if you "can't stick to the rule or CHICKEN out at the last minute"....

Example:

You ALWAY start playing at 1 cent per pip
from then you keep double up to "infinity ...or your balance max out leverage"

If you chicken out "half way..you will lose...everything"

That's the kind of game Martingale play...

So 1 cent, 2 cent, 4cent, 8cent, 16 cent, 32cent, 64 cent, 1.28$, 2.56$, 5.12$ per pip is what MOST PEOPLE ... can AFFORD to double up to....10x TRY to recover your balance...

After that they chicken out and blow their account.

If you are a "not greedy man, you can spread out the distance between 10 trade by 100 pip which mean..the market have to go 1000 pip against your 1st order in order for you to bet 5.12$ per pip <-- btw just saying if you apply this method on your SAVING ACCOUNT... it will definitely beat the banks saving account profit. Most of the time the market will range between 1-1000 pip..so you would be safe...if you play martingale with that range in mind..
  • #8
  • Jul 22, 2014 7:50pm Jul 22, 2014 7:50pm
Quoting hamedmohd
{quote} so it is a wrong way to go with it in forex !
Martingale is even the wrong way to play at casino ...

You should use your time and money to learn trading instead of trying to recover a loss.

Don't recover a loss ... but learn about it.
MT4/MT5 EAs/Indicators/Alerts coder
  • #9
  • Edited Jul 23, 2014 12:01am Jul 22, 2014 7:55pm | Edited Jul 23, 2014 12:01am
Since I am so nice,

I'll upload for you 2 pages COMPLEX martingale from "unknown martingale book" which I am sure no one read....

So just PICK the Martingale style FROM The book below that you can can afford to risk...

Attached Image (click to enlarge)
Click to Enlarge Name: comlpex martingale_1.jpg Size: 240 KB


Attached Image (click to enlarge)
Click to Enlarge Name: comlpex martingale_2.jpg Size: 151 KB


-----

P.S

Alway remember that you can alway demo and see how it go, demo is free to blown you shouldn't fear. When you do realize that you can't blow in demo and apply it to real life, do NOT chicken.. out. This is not for "weak people". Martingale is the one way FAST street. Either you get rich fast in 1-2 year or your still going to work with your crappy usual mcdonald job...

In my world martingale is a Win-WIN scenario.

If you win you become rich fast.
If you blow your balance you "still work" like you normal work. Your life does not change....
If you don't play martingale it's arguably you will end up losing that money anyway at a slow pace ... but you won't get the benefit of Fast rich with your "slow money loss"

Good Luck...

----------
Not ground breaking but a nice "skeleton" template for newbies who actually want to do martingale...
http://forexop.com/martingale-trading-system-overview/
  • #10
  • Jul 22, 2014 8:04pm Jul 22, 2014 8:04pm
hi there,

just sharing my exp with martingle, yes i can profit but also some time even i cant make it profit, at least i can BE the float or cut some losses...
but the important thing is the 1st point of your entry... if the 1st point of entering your market is wrong than the whole level of martingle can make you loose more
  • #11
  • Jul 22, 2014 8:55pm Jul 22, 2014 8:55pm
Quoting victor_ray
In my world martingale is a Win-WIN scenario.
1. If you win you become rich fast.
2. If you blow your balance you "still work" like you normal work. Your life does not change....
Definitively not. Usually, the martingale players are sadly addicted to this kind of trading (rich quick scheme) and losing will definitively change their live (ie. losing their hard saved earnings, deb, etc ...).
MT4/MT5 EAs/Indicators/Alerts coder
  • #12
  • Edited 10:11pm Jul 22, 2014 9:17pm | Edited 10:11pm
lol...

I am pretty sure everyone who sign up for a 1st TIME new account with a broker, they have check the box that they must AGREE that when they lose their money it will NOT AFFECT their life".

Because if you "do not check that agreement box" guess..what the broker will not let you open a live account.

I am sure everyone HAVE TO agree to the Risk Disclosure but I shall post it again so that way people think they are "entitle to win just because they put in their life saving"

" Forex Risk Disclosure
Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. "

----
Whether you like it or not, All your money that you PUT in forex is 100% the money that you CAN AFFORD to lose" because you MUST accept this risk disclosure for you to open a live account. You also sign an agreement that everything from you is NO LIE... (which mean you are telling the truth that you can afford to lose your money)...

----

P.S
Yes I am aware that in this world there are liar. Well if you told the truth in the first place, YOU would NOT have a problem gambling your saving money in forex because WHY?... The broker is a very nice person, they will NOT give you gambler an account ( who can't afford to lose money which lead you to become starving homeless).
But if you lie, then guess what, you just "LOST the protection benefit that the broker denies your account and stop you becoming a future homeless"

----

I thought i should post a screenshot of what I believe is a "good high-SAFE risk leverage". I deal with this all the time however if i lose 5 time a row my balance would be down by 50% (i doubt that day will happen lol)...

Attached Image (click to enlarge)
Click to Enlarge Name: risk magin level.png Size: 65 KB


Learn to remove your fear of "losing your money" by actually having a job. I have a job, I can afford to lose money because I want to get rich quick....
  • #13
  • Jul 22, 2014 9:51pm Jul 22, 2014 9:51pm
Quoting victor_ray
lol... I am pretty sure everyone who sign up for a 1st TIME new account with a broker, they have check the box that they must AGREE that when they lose their money it will NOT AFFECT their life". Because if you "do not check that agreement box" guess..what the broker will not let you open a live account. I am sure everyone HAVE TO agree to the Risk Disclosure but I shall post it again so that way people think they are "entitle to win just because they put in their life saving" " Forex Risk Disclosure Before deciding to participate in the Forex market,...
Checking the broker agreement box doesn't mean that the trader will follow what he agreed ! Most retail traders want to trade because they think they will win big quickly ... and they are ready to lose big (even what they can't afford) to win big ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #14
  • Jul 22, 2014 10:34pm Jul 22, 2014 10:34pm
Quoting FerruFx
{quote} Definitively not. Usually, the martingale players are sadly addicted to this kind of trading (rich quick scheme) and losing will definitively change their live (ie. losing their hard saved earnings, deb, etc ...).
This is so true. -- And although there have been some encouraging words for the Op in this thread, I believe the important point that has been missing is that in order to make a martingale system work - or for any method to be made to work - you must have the basic understanding of market movement in your head.

A trader who understands the market based on thousands of hours of study could make any number of systems work. Martingale, Scalping, Volume flow... whatever works for the individual trader.

Martingale is absolutely NOT a way around the years of immersion in the markets that are going to be required to make ANY system work in the long run. (or the short run).

It's not the "system" or the new "method"... it's a deep understanding of how trading for a living works.

"Immersion": pls look up Dr. Brett Steenbarger -- he has many articles on line for your free viewing < brettsteenbarger dot com slash articles > good for some weekend reading
  • #15
  • Jul 23, 2014 2:28am Jul 23, 2014 2:28am
Quoting Price
{quote} This is so true.........
Excellent post IMO. There are no short cuts, no free lunch — either you have an edge that's based on a thorough understanding on how and why price moves, or you don't.

Dr Steenbarger is one of the few trading psychologists who makes any sense to me.

Re martingale, I agree with you and FerruFX. Uncapped martingale delivers guaranteed profit in the short term, but at the expense of guaranteeing ruin, at some unknown point in the long term.

@hamedmohd: there are dozens of martingale threads on this forum. Type "martingale" into the forum search engine, and you should get a lot of hits.
  • #16
  • Jul 23, 2014 2:39am Jul 23, 2014 2:39am
Using a martingale system will always lose as you will lack the kahunas to keep doubling after about 10 losses in a row.
The best you will achieve is to break even.
Try looking at this from a different perspective.
What about doubling up each time you WIN!!
Do the numbers on this and see where it can take you.
The difference is that you are only risking past profits - not increasing your losses.
To profit in forex, you need a good risk/ reward ratio and a good percentage of winning trades.
Without these 2 bases covered, you will lose.
Do the sums to see for yourself.
Cheers, H
  • #17
  • Jul 23, 2014 3:21am Jul 23, 2014 3:21am
Hi

I think that if you view this market as a casino this is what you will get back, nothing but gambling

If you treat it as a business, focus on a good strategy, win slowly, build up slowly you will get nice profits

Compound and make your money double up rather than take chances

Best of luck
  • #18
  • Jul 23, 2014 3:33am Jul 23, 2014 3:33am
Quoting BenderTrader
Hi I think that if you view this market as a casino this is what you will get back, nothing but gambling If you treat it as a business, focus on a good strategy, win slowly, build up slowly you will get nice profits Compound and make your money double up rather than take chances Best of luck
MT4/MT5 EAs/Indicators/Alerts coder
  • #19
  • Jul 23, 2014 3:41am Jul 23, 2014 3:41am
Quoting victor_ray
Since I am so nice, I'll upload for you 2 pages COMPLEX martingale from "unknown martingale book" which I am sure no one read.... So just PICK the Martingale style FROM The book below that you can can afford to risk... {image} {image} ----- P.S Alway remember that you can alway demo and see how it go, demo is free to blown you shouldn't fear. When you do realize that you can't blow in demo and apply it to real life, do NOT chicken.. out. This is not for "weak people". Martingale is the one way FAST street. Either you get rich fast in 1-2 year or...
Interesting book Victor...do you happen to know the title of it?
  • #20
  • Jul 23, 2014 3:42am Jul 23, 2014 3:42am
Quoting FerruFx
{quote}

Thank you FerruFx
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