My first FX martingale attempt

Sorry mate, can't reveal the entire logic of it but couple of things to note

1) A good entry point
2) Martingale sequence -> I am using Fibonacci but actually trying other combinations as we speak
3) Griding space and TP levels -> both quite self-explanatory in my first post

Hope it helps. Also , i don't use tunnel martingale or recovery zone concept here because last time i tried it wasn't showing any promise . (Probably there are better ways to do it but i couldn't figure it out )

Finally got a very stable version working across the major pairs and several more FX pairs. Try it and let me know feedback. ( I have uploaded in first post )
It is generating ~40-60% per annum returns for each instrument so just run it on 4 majors and you are good to go !!

PS: a) Risky martingale is doing good for the week so far ( https://www.myfxbook.com/members/TRM...-fx-v0/1977124 )
b) Currency Strength bot is doing great as well with 30 pips already locked in for today with more than 100 pips locked in last couple of days. Note that it is a linear martingale version with currency strength as indicator.

Risky martingale locked in 600$ target for the week.



Good work ! Next week will have another run.

Congratulation for the work !

ha ha ha, shut up and take my money!

Thanks for the motivation guys !! I am already running risky version live on my account but getting chickened out and locking small profits ( 100-200$ per week ) instead of running it for atleast 10%(~500) per week. I think i will slowly get used to it and will go full live with conviction from April. First 8 weeks to recover initial capital is the key .

Wish me luck

are you running this on a live account?

yup but with manual interventions as i pointed out before.

martingala will never work because if you use a "multipler" you risk will grow too fast and margin call is certain.

You can develop some strategy if you use:
1) One pair (diversification in forex does not exist)
2) You keep the same lot size.

With these two conditions you can develop some strategy

this is an ABSOLUTE RUBBISH.

there is nothing wrong in using a multiplier. the problem is WHERE TO APPLY IT? it is not in the use of the multiplier itself...

obviously most traders do not have an idea where exactly to apply the multiplier? unfortunate young souls i call them...

Appreciate your concern mate but i have limited martingale steps and thus my total risk. I am very well versed with the risks of martingale systems and this is my first attempt at them. ( I have been trading for more than 6 years now but mostly on indices )

If you can develop stable martingale which blows let's say once in a year with a return profile of >100%per annum , then you might be able to recover your capital back before you blow and then play with house money. [ Of-course it is not that simple but i suppose you got the gist .. look at the risky martingale version which i am running in demo (and live ) which has made 40% in 4 weeks ] .

Understanding risk of what you are running is the key not that it is going to be holy grail or something like that.

Well, I am running a kind of grid system based on hedging, I took me several years to devolop.

To my understanding the key is using only 1 pair, because using multiple pairs will only saturate your account, rising your total risk.

Another very important component is to key all the trades of the same size.

This is my solution, I trade 1 pair with trade of the same size and then I hedge the total exposure from one side to another.

Along the way i use the profit do close down the trades on the loosing side. This allow me to keep the risk under control.


You can make significant amount of money with a similar strategy.

The important thing, the most important of all is the trade size.

If you open trades in this way:
0.10
0.20
0.40

etc... You are using a multiplier hoping that with rising your lot size you can find an exit point faster.

In most cases this approach works, in fact there are a lot of EAs, but this is the main problem of martingala.


You will never know if you margin exposure / account size is enough.

You could run a martingala for 6 months making a lot of money or go broke in 1 week.

You could also go broke several times in a row.


General speaking the problem of martigala is the time, you don't have a realiable time frame of how long you strategy will work.


Because the market is random and there is no real way to predict it.


In this case if you want to succed when the market is going against you the better way is to have as much low exposure as possibile, this will allow you to hedge better.


In this way when the market is choppy, or having an irrational behavior you can simple hedge your exposure and wait, when the market is direction you can profit.


Hedging is one of the most important thing in trading, because allow you to freeze the situation and prepare a battle plan.

There is no way to correctly predicting the market, sometime you will be right for a long period of time sometimes no.



It is also very important to choice a pair with a very low volatily.


One mistake is trading pair like the JPY that have an eccessive volatilty. When the pair move too much is actual a bad thing.

Because you don't have time to react, if the market moves 500/800 pips is in a few days is actually very bad, because you will not have time to preparare a battle plan.


If the market moves a lot but very slowly this is a very good condition for trading, because you have time to exit your situaton with weeks or even months.



The rule of the game is having a lot of TIME resistence.

You make money by waiting not by trading.


According to the Pareto's principle : states that, for many events, roughly 80% of the effects come from 20% of the causes


80% of the time you will be doing nothing, no gain.

You need to wait for that 20% to make profit.


The profit in forex comes from other people losing money, you need give them "enough rope (to hang themselves)", so then their Stop losses are trigger you get their money.


So you should put yourself in the condition to last as much as possible.

I totally understand your point of view Lacunoid but i couldn't make it work with linear martingale(my currency strength bot is linear martingale though and currently under forward test). In perfect environment , one would want great entries without any scaling up of risk when it goes away from you and make money . But unfortunately , it isn't quite easy in forex ( i have such sharp scalpers for DAX with quite good accuracy without any martingale).

Again as long as one knows the risk associated with the strategy/algo, it is manageable as expectations are set accordingly. Thanks for your input though.

Hello sbc, I read that you'll release the EA for free, is that correct?

If it is, I think it will be great for us to all start trading this system and share ideas together.

Hi Mark, it is valid till end of this month. So feel free to backtest/ forward test/ or even go live with it. I am not recommending anyone to do anything.

FYI guys, currency strength bot with linear martingale is doing so far good in forward testing. 5% in 2 weeks !

this thread must move to the commercial section !

twee get into the business

Cheers

Al.

Hi Mark

there is lot of free and good ea versions that work fine with the correct setfile and the correct pair to use!

i personally use one of them and its free !!

if you want i can share for free my hard work!!(my hard work was not to build this ea ,my hard work refer to set the correct setfile MM and the correct pair to use!)

Cheers

Al.

P.S!

this is my famous test that i made from 2010 till now days!,and yes its free with no commercial involve and there is no limitation time to use!

Attached Image (click to enlarge)

and this other pair from 2012 till now days!

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Almo you have a good heart. Good karma will always be with you. Keep it up

Turned ON Risky Martingale bot for another 600$ ( 10% ) target for this week ... Let's see !