Anyone have achieve consistent profit using martingale?

[vayne77]

For example $1000 account

We trade with same sl and tp like 10 pips sl and tp

1st trade using 0.05 on EU…Buy at 1.1200 TP 1.1210 and Sl 1.1190 and then hit Sl loss $5

2nd trade we wait for next opportunity and use 0.10 lots next…if second trade hit TP we get $10 so we recover the first loss and there is $5 extra profit

For $1000 account can use (leverage 1:1000)

1. 0.05
2. 0.10
3. 0.20
4. 0.40
5. 0.80
6. 1.60
7. 3.20

Yea if we loss 7 time in a row then the account will dead…but with proper analysis , is it possible to loss 7 time in a row?

[Falstaff]

What do the Spreads do to the money on your theoretical a 10 pip SL and a 10 Pip TP ?

Step it through in Excel or something and do let us know !

[vayne77]

the spread on major pairs are small…EU is like 0.6 pips spread and GU 1.2 pips spread

[Falstaff]

That was Not the question - My contention is that taking spreads into account that system is certain to lose money if you have to carry it all the way to 7 bets and probably a lot sooner !

[vayne77]

I dont understand why spread is the problem…I will use 10 pips sl still counting the spread…so if loss it will still count as 10 pips loss

[Falstaff]

life is complex mate - Forex is complex and the betting is complex.

This opinion of mine was costly to form - by the time I lost £3000 when I first started I analysed my bets and without the spreads I would have broken even !

0.6 pips is small -0.6% if you’re betting 100 pips levels - on 10 pips it is 6% and that applies on both winners and losers (IF you believe 0.6 pips is fixed (which usually it isn’t)) - so 6% on winners and losers equals 12% on winners only if you assume even 50-50 win lose.

I did say to use a spreadsheet and step it through - then perhaps you Will understand.

Hopefully others can already begin to see what I mean !

Then of course thhere is this - which is diproportinately affecting low piip values of SL and TP

What's with the long tails?

I’ve notice this before on the short timescales, when the new candlw is formed, it often has a long tail, which you never see print. I know at a top or a bottom, you get “pin bar” formations sometimes, but tis is every single bar appearing to be a pin bar although the solid colour never goes down there. I don’t often see long wicks on the other side. Sorry if this is covered in the second half of teh pips school. Can anyone explain in a convincing way please ? [image]

Anyway - listen and think about it - or don’t - it’s up to you -

[ChampionChan]

I have a strategy that has a backtest result of 12 losses in a row. You have to consider the possibilities on your chosen strategy. Also, a 3.2 lot trade seems a lot to get a $5 profit. If it still doesn’t work, 6.4, 12.8 lots? I think you wouldn’t have the stomach to go through such trades for a measly $5. Though you might have a different tolerance with losses, so if you can then go for it. The only thing that matters is if you ended up profitable regardless of how big of a drawdown you get. Of course, making sure that you don’t blow up the account with all of the risks taken.

[vayne77]

what kind of strategy you use for that 12 loss streak btw?

[ChampionChan]

Well… It’s a breakout strategy. The system itself has a low win rate but the wins are big enough to cover all of the losses. I just need to make sure that at the end of the losses, I still have enough balance to trade.