I would agree to stay away from Martingale in its standard form and I have personal experience of that!
However, in this case it is incorporated into hedged trading, uses the concept but adopts an opposite principle the Martingale uses and resets to initial lot size at a low predetermined level. Long term testing has shown that the new mathematical thinking in this approach is working.
do you know any ea that can do that mathematical thinking.Im looking for an ea that will tp on base on balance profit.
Originally Posted by mblake
EA's can and do work, however...
I write my own EA's (I was a C programmer in the 90's). I discovered the simplest EA's yield the very best results, however, you have to let it do it's thing. Take the market right now. Look at gold$ and others. Chop-chop. No strong direction. Patience is the main ingredient. We love to be in the action, so too many trades are entered and then closed too soon.
1. Use a more simple system
2. Do your analysis based on past results
3. Have confidence that past results will be repeated
4. Implement your simpler EA @ 10-20 cents/pip for a month
Except for initial testing, I do not recommend demo accounts because the psychology is so much different.
I'm completely agree with dennis681. Yes Eas work
Originally Posted by dennis681
Some people don't trust in them, but don't forget that in forex there's not guarantees...there's not a system 100%reliable.
I think there is a problem, not with EAs but with some traders. Some people take a high risk to generate high win rates automatically, cause people like to win"" ...If you think that with a simple "click" you're going to be rich, you're wrong. That's not the way.
You must be very careful, and adjust the risk setting to your account, and study the drawdown that your account can support, the history of the signal, the best stop loss ... That's the way to trade with autotrading
Can you claify?
I'm not sure what this means: "tp on base on balance profit". Can you claify that a bit please?
Originally Posted by bigor
tested trades good on a heavy reqoute spike ok. ea close one close all.
means take profit on all open order by this ea. can't upload platform pic
Re Grid, Hedge & Marginale Bigor is seeking, I do know of one that does all that and is not a black box system. Also the Martingale is limited in the levels it can run to and the developer has tutorials running that demonstrate how to trade wheneve that limit is reached, which would be a few times a year.
As its mathematical there is quite a bit of maths involved for those who like the detail and the developer, Bob has been happy to discuss with serious traders.
It does come over as a serious trading tool for more experienced traders, but one that does seem capable of 70-100% per annum returns. For some that is not very exciting but I reckon its pretty good when professional traders who are full time are looking at 30% as their target for a good year.
Thanks bigor; that's a bit more clear. Still not sure... Anyway, every EA I have written will auto close an order based on TP or reversing candles or some indicator. Is that what you mean? Also, an EA can close a trade as soon as it makes a profit, but that would not be efficient. Feel free to ask another question if I still don't understand your original.
Originally Posted by bigor
Trading a martingale would be a death sentence. I think it's better not to trade at all than trade a martingale.
A martingale would, but not a modified one that a) allows it to only move up x levels and b) has a defined plan on recovery if the last set level was reached. That has been done and traded to prove the process of reset in action with a steady growth in equity in standard trading mode and in reset mode back to pre drawdown stage.
"As long as you're going to think anyway, think big."