ForexGamblingTool - Trading in the fast lane!

If you don't know how to trade, please get out of here - in your very own interest!

If you're a skilled trader, but have hard drawdown limits (rendering the cushion beneath your defined DD level as dead, sleeping money that you only need to 'know it's there', but never becomes used)... please move on, because this tool and the method it pursues would only make you nervous

But if you really know how to trade, and you're a (responsible) gambler at heart... read on!

ForexGamblingTool (formerly known as MarginTrader)..? WTF?
ForexGamblingTool is a margin level trading EA for MetaTrader 4. It's a trade manager for manual traders. It's not a trading robot.

Why 'Gambling'?
Because trading IS gambling - it's always a bet on an uncertain outcome. But in trading, you can actually bend the chance in your favor by choosing when & where to enter, and when & where to exit. You can become the casino! However, your success will depend on your skills!

What's margin level trading?
The approach is very simple:

1. You're betting only a small part of your risk capital.
2. Margin call is your friend!
3. Margin stop-out is your stop loss!
4. Before entering a trade, you set the margin level you want to keep.
5. If the trade goes in your favor, FGT will add to it, keeping your preset margin level.

More about? Can I try it for free?
Yeah! Just click here

If you've got any problem with downloading from the site, you can find the demo setup here:

today: after buying audjpy in afternoon and selling some gold, bought usdjpy on bottom of a bull flag after a clear bullish impulse move:

>100% in the session

Everything looks nice but only in test history. Especially if the quality of the historical data is bad. Then you can watch the falling prices without major reversals. In real conditions, so it is not possible.
Otherwise, we would all be millionaires.

I really like this tool.
Is anyone else having trouble moving the TP/SL arrows though? Mine wont move.

And note: it is purely a MONEY MANAGEMENT tool.
If you already have a strategy that is profitable, having a tool that adds to winning positions and "levers you up" makes some sense conceptually....
OTOH if your strategy doesnt have an absolutely solid positive expectancy, this tool will just make your account blow up faster.

Hi Odysseus,

glad you like the tool ..and thanks for the note - couldn't explain it better!

The arrows are not for setting TP/SL.. they work for adjusting the margin limit before you enter a trade.

Before entry, there are 2 red movable arrows in same distance from current price - one above, one below. They mark a margin stop-out based on margin limit you have set - upper one for shorts, lower one for longs. You can move any of them to (usually some technical) level and the 2nd one will move accordingly in opposite direction. Basically, they are just another way of setting the +/- margin limit.

After entry, you can't move them anymore. One arrow will stay red (depending on the trade direction) and keeps marking the margin stopout level. The 2nd arrow will turn green, and marks your average entry level in the running trade.

After entry, a horizontal line appears on the chart - you can set TP/SL by dragging the line and clicking the TP/SL button

Hope it helps!

Hello,
Impossible to download
Any solution ?

Some users are experiencing problems with downloads from our site. Seems it depends on location and/or client security settings.
We'll check and fix it asap.

Attached the demo setup to post 1

couple further observations:
1) sometimes after an entry my button next to the "close" button will change to "set SL" and sometimes it will change to "set TP". I cant tell why or how it determines WHICH one to display. But it displays only one of them. This is a bit of a pain because without the "terminal" window in view I cant manually set a TP or SL in any other way, so it would be better to have BOTH buttons in view and usable.

2) just need to say that even though I like the tool - it IS fun to use - for anyone who is a serious trader, be aware that its sort of eye candy. I mean, if you fund a small account with 2% of your trading capital, this tool basically does no more and no less than max out your trade at the margin/stop out levels the broker allows and you set, and then adds incremental trades - this incremental add when a trade goes IN your favor is something that several other available free EAs can do (I used to have one called "Snowball" I think it was), so the net result could be easily replicated on a standard broker account with a lot size calculator, an EA like snowball, and setting initial SL to 2% of equity. But the interface IS cool and fun, and it does all this for you, and for short money. Also, the software manages the sizes of the incremental adds in a neat way (keeping equity/margin maxxed out) .... I may buy it.

3) fully agree with the OP who said exits are more important than entries. You have to be accurate with where to bail out and "keep your winnings", because your margin stays maxxed out with the incremental adds, so you can never have the trade turn against you significantly and ride it out if you just let the SL float on its own (I cant tell yet if this SL can be managed effectively to better "keep" profits....)

Hi Odysseus,

I'm very sorry for replying that very very late. I wasn't aware of your thread reply (received no notification) and I stumbled upon it few moments ago while reviewing this thread.

The reason why the button changes Set SL / Set TP is simple: it is determined by the position of the draggable horizontal line plotted by the EA.

Let's consider a long position:

 

1. If you drag the line below your entry, it turns red and serves as a stop loss setting level and the button changes to Set SL. By clicking it, you set SL for all current and future entries of the same position to that level.
   
   
2. If you drag the line above your entry, it turns green and serves as a take profit setting level and the button changes to Set TP. By clicking it, you set TP for all current and future entries of the same position to that level.

Vice versa for shorts.

Hope it's all clear now, but I guess you've figured it out already

Agree with the rest of your post. As a trade evolves, it basically builds a reverse pyramid on the (initially heavy) original entry, and if the move in your favor gets big enough, it becomes quite top-heavy, prone to larger whipsaws which usually come in trends that get mature (in any TF). Best approach is to terminate the whole position after any climactical (overextended) move.

And yes - it has been made to make this kind of wild pyramiding quick and comfortable, and that's the whole and only purpose of the tool. It won't give anyone an edge - but it can help to max it out IF you've already got one (or some)

Hi FGTool

Your site is not loading. BTW, awesome tool!

G

Hi FGT,
I found your tool via YouTube then downloaded it for demo use.
It loads onto chart ok but then doesn't do anything or let me do anything to it.

Has this system stopped working now.

Thanks

Fixed my problem, nothing to do with FGT.

Been trialing this on 5 & 15min imbalances with some good results.

I've been letting the EA load up on 100% margin from the imbalanced levels then setting the stop loss and tp before deselecting the automatic position stacker.
I then remove the FGT from my chart so I can manage the trades running, as you cannot do this with FGT loaded onto the chart your trading.
Tried to cut positions down from my mobile MT4 app but once you close one trade they all close with the tool loaded on my main system.

Once the tool's off my chart and price reacted to the imbalance and moved in my favour I took partial profits (close a few also) and moved stops on remainder into lower/no risk.
It's a good tool but would be a loose cannon in the wrong hands.

Hi I cant log on to your link are you still selling forex gambling tool ?

I bought it from your site but its not working please help

This is what I was afraid of. I absolutely love the concept I was seriously considering purchasing the live version but when I contacted support a couple of times with a couple of basic questions & received no reply from them I thought to myself is this the type of company I want to spend my money with?? I don't think so.

Not sure why someone would go thru the effort to develop & promote this product & not respond to a potential buyer.

I'm glad I bought through paypal

LOVE IT!!!! Cant get on the web site though. will play around with it on back test with a manual strat.

Thank You.. for this Wonderful Tool. How much does this Tool cost? Can It be Further Refined into an EA? When is the Demo Expiry-? Practice Makes Perfect..All my Love, jimmy

Hi Stavebni, may i use it with real one?

Hello.
This EA needs to be revamped a bit to make leveraged trading less risky.
To do this, you need to make a fixed lot and increase the margin as a percentage for each added trade

https://www.forexfactory.com/thread/...6#post13560746