Hello, i have a system that win about 70%+ with 10 pip SL and 10 pip TP but i failed using it
should i use martingale or put higher TP ?
thanks
[I]Definitely[/I] not: that would be a good way to contrive eventually to lose money while using a profitable system with a positive expectation.
Why do you need to change it at all, if it has a 70% win-rate with a 10-pip SL and TP?
Out of every 100 trades you make, it sounds like you’ll win 700 pips and lose 300 pips, for a net result of +400 pips and a profit factor of 2.33 (700/300).
All you need (assuming, of course, that it trades often enough to be worthwhile) is appropriate position-sizing to allow for both (a) the longest foreseeable losing run, and (b) the longest foreseeable losing patch (those are going to occur about five times as often as the longest foreseeable losing runs). You need to allow for 11-12 consecutive losers, and for losing patches equivalent financially to that outcome. If you’re willing to lose about 50% of your account when you have such a bad run (and you will, eventually), then position-sizing of about 4%/5% of your account “should” be safe enough (I’d make it a little lower, myself, but I’m very risk averse).
From the details you mention above, it isn’t easy to understand what the problem is?
And welcome to the forum!
Always good to have you talk about this. Keep it up lexy
Martingale is extreme strategy I think if mental still nit good enough and experience use this strategy still not enough might will harmful account, test first in demo account with certain number of capital, so you will understand how to work with martingale system
I have seen the system of Martingale and for some traders it may work but we have to see how much effective it will be for us in the long run