I am looking for a simple Martingale EA. I repeat, a very simple martingale EA. The reason I would like it simple is because I would like something I can understand so I will know the best parameters to use with this system. Anyway, I just want something simple which contains a multiplier, a step level (eg 15pips, 30pips etc) and TP. I would also like one which adjusts the TP if trending takes place. I’m sure that there is something like that out there somewhere, so I would really appreciate it if someone were to point me to the right direction.
there are 3 rubberbands EAs on the MQL4 code base. they are all simple grid EAs with some martingale options.
Now you do know that all martingale strats will blow an account at some point. If you know that and only run martingale on a small part of your trading equity and take profit out if you can get an account to double, its possible to use martingale and make money long term. Never think that you are running the steps big enough or the multiplier small enough to prevent a blow out. Trust me I know. Any thing that can go wrong and cost you money will happen.
This is not true. Not [B]all[/B] martingales will blow an account. I’m personally using one on a small account that dynamically exits trades depending on market conditions. Sure if you get ones that are just 1 2 4 8 crap ya. But if you give it indications of market changes and news as well as volaility, you can make it work. I have been running it for around 6 months. Also backtested and no issues.
no martingale EA I have ever tested has not in at least one of the tests blown an account. I have tested alot of them and coded some myself. I am not arguing against martingale as a money management technique, just saying I would NEVER let a martingale EA or strat have more then 5 or 10 % of my total capital. Many of the EAs I have tested have very good performance for long periods of time. They can be used to make money. I have run martingale EAs on live accounts. One of the things that effects how many martingale EAs back test is the day they start on. Think about a big trend if the EA is at the start of a cycle when the trend starts the outcome might be very different then if the EA is running a few trades when the trend starts. This is hard to test for. This scenerio will not affect all EAs some may close all trades on Friday or something. I am just saying be careful. I stand by my statement “Any thing that can go wrong and cost you money will happen.”
yes it is true that martingale eas are inherently risky but I understand the trick when trading martingale bots is to make withdrawals. This way you should overally make gains. I just thought why buy one of these “forex hacked” or envy for example which are all “martingale-like” in a way. I would rather download one for free and see if I can not use sensible money management to make some decent money. Just a though…the experiment is still underway though.
I often use a martingale ea with my broker but it is a little different to what you are describing above. I’ll quickly explaine it so that you understand. I opened a mirror account and I was given to 2 different accounts so that I could use for hedging. I was also given a martingale ea for free and I used it as my strategy to hedge between the 2 accounts. To add to this the broker gave me a 100% bonus in my account so basically i increased my potential chances of getting a return. The ea kept on doubling up on my trade whenever the take profit was hit and not when the stop loss was taken. Overall I found that it was performing very well and it to add to this I got it for free.