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What do you think about this martingale strategy?

  • #61
  • Feb 12, 2012 1:19am Feb 12, 2012 1:19am
Quoting bluesteele
I think this strategy is doomed for failure. In fact I know it is doomed for failure. Learn how to trade instead of gambling.
Exact.

We already tried to warn multiple times in this thread ... but with no success.
MT4/MT5 EAs/Indicators/Alerts coder
  • #62
  • Feb 12, 2012 8:00am Feb 12, 2012 8:00am
Quoting bluesteele
I think this strategy is doomed for failure. In fact I know it is doomed for failure. Learn how to trade instead of gambling.
Agreed, learn to trade, or walk away while you still can.
  • #63
  • Feb 14, 2012 2:29am Feb 14, 2012 2:29am
Quoting Taxi Driver
Well, martingale will blow if u dont have HUGE acc trading tiny-tiny lots, but it can work if you donīt collect money on your account, risking it all.

One guy using martingale:

http://www.myfxbook.com/members/Kaip...xsashka/120431

He constantly takes out all the profit, balance is ab same amount he deposited.

He made opened trades and history private, but it was opened before and I followed his trades to analyse the system, he is opening buy-sell same time and using pullbacks = he doubles/tripples losing pos until it gives...
Thats no stop loss grid trading....great in ranging markets...disastrous in trend
  • #64
  • Feb 18, 2012 6:32pm Feb 18, 2012 6:32pm
Yes, the best teacher is experience, but the tuition is very high. ANY kind of martingale will blow your account sooner or later. Every single person will discover this over time.

Quoting deankenny21
It is clear that you are very new to this game, all i can say is tread carefully, but i suppose the best lesson is experience
  • #65
  • Aug 13, 2014 10:24am Aug 13, 2014 10:24am
DANGER!
My signature is: "Classified".
  • #66
  • Aug 14, 2014 12:52am Aug 14, 2014 12:52am
Quoting bluesteele
I think this strategy is doomed for failure. In fact I know it is doomed for failure. Learn how to trade instead of gambling.
Sorry for butting in but I couldn`t help myself. Please explain to me how is what the O.P. doing considered gambling? In no way shape or form is gambling defined by the amount of money or the form in which you wager. To take a gamble is simply identified as taking a wager on ANYTHING in which the outcome is uncertain, in hopes of gaining financial gain.

To sum it up. ALL of us are gambling if we are risking ANY amount of money in forex.
Banks scalp, why don't you?
  • #67
  • Aug 14, 2014 12:55am Aug 14, 2014 12:55am
By the way Martingale DOES work. Especially if one has a system in which he or she doesn`t have very long losing streaks. In most cases in which people blow their accounts trading with a martingale form of wagering is due mostly in part because of the lack of self - control. After a loss, bias begins to creep in and the trader tends to throw his system right out the window.
Martingale may not work in the LONG HAUL, but I would love to see any system which does!
Banks scalp, why don't you?
  • #68
  • Last Post: Aug 14, 2014 1:02am Aug 14, 2014 1:02am
Quoting Jure86
{quote} As I said thanks for all comments they really help me and I see what others mean about strategy. 1/ Yes, profit or loss will be small. When there is not many waves (3-5) and then some direction of price (small) profit is here. When there are many waves loss is small. And it think many waves is not very often, so profit is bigger then loss. 2/ Range is not problem here... and 2 is not minimum also.

Hello Jure86 The most important factor in wagering with martingale has been ignored by all those who are advising you to not do it. The accuracy of your system should determine weather or not your use martingale. Say your system doesnīt experience more then 4 losses in a row. Why wouldnīt a person use martingale with a system like that? The accuracy is the key to martingale, of course you may eventually hit a 8 losses in a row, but with proper money management you would withdraw profits after a certain point and repeat the process. If you have a look at my trade explorer you will be able to see that is what I do.
Banks scalp, why don't you?
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