Both of you could be right, I agree, but I need to go the hard way to prove to myself that it really don’t work.
Anyone has to find its way, this is mine for the time being, and reading a guru or two telling that mathematically speaking a martingale is not a good idea, well, is just not enough for me.
[QUOTE=“alm;505309”]Both of you could be right, I agree, but I need to go the hard way to prove to myself that it really don’t work.
Anyone has to find its way, this is mine for the time being, and reading a guru or two telling that mathematically speaking a martingale is not a good idea, well, is just not enough for me.[/QUOTE]
Best of luck. Get out while you are ahead.
[QUOTE=“mastergunner99;505278”]
Even if you wagered a single penny in a million dollar account, it would ultimately end in financial ruin. Simply because there is no positive edge, and when you lack a positive edge you will never come out ahead unless you happen to quit while you were lucky and got ahead.[/QUOTE]
Again… Entirely wrong. One simply would have to take a uni-directional approach to an inflationary exchange rate. Example… Gold to usd. Gold is never going to reach zero… So if you always buy gold with dollar, and say double the position every time it drops 30% in value compared to the last entry… Your initial position can obviously be much bigger then a penny on a million dollar account to cover even the realistic worst case scenario…
Guys,
The only way to go in forex is martingaling your positions as the retracement happens often. The rumors spread by martingale are false i would say. The great enemy for martingale is only one thing yes believe me it is only “greed” that destroy you if you use martingale as a system. Trust me when i say there are so many traders who use only martingale for living. But if you Google you can see many articles against it all i can say is they are either “greedy burgers” or “market manipulators”
Then if you know how to hedge your positions along with martingale. Forex is the place for you.step in , search, study everything.
You will find holy grail is out there. It is not far from you. But can’t be seen by short sighted.
Great trading!
Rishi
That really makes not sense at all
It’s time to report the trading of July.
It has been an energy consuming month, the EA has gone from version 1.18 to version 1.26 ! Everytime I’m obsessed by reducing the risk and now I have been able to reduce the maximal drawdown to 25%. It’s a good improvement but still have a couple of ideas to test after holidays.
I have also made two great discoveries while observing the EA trading during this month. These observations allowed me to make some manual trades with calculated risk and without needing to chose the direction of the trade as it was given by the EA itself.
The first one that I will call “Regulation” serves to regulate the lot size at each new trading step. I noticed that when I experience a string of losses, very often the losing trades are profitable right from the start, sometimes 20 or even 40 pips before they turn negative and are closed at a loss. This is why I think to take some profit starting from steps 7 or 8 when the lot size is approximately 10 times or more the size of first trade. This system adds 2 to 3 extra trades to the cycle giving the system more chances to exit with a profit, thus reducing a bit the risk of ruin.
My second discovery has helped me to boost the performance this month to levels that I didn’t think of at the beginig of the month. I discovered that, just before the NFP announcement, while having a winning position and wondering if the NFP would ruin my current position. So I stopped the EA and took an extra trade almost the same size of my current winning one (the one taken automatically by the EA) and only risking some pips of that winning trade. You can look in the trade list, it’s the trade from july 5 2013 14:12.
I was 32 pips positive and if the NFP had gone against me, I would have been stopped out and the overall outcome would have been 10 pips profit from the initial trade, that is to say: +32 pips of initial trade - 10 pips of initial trade -10 pips of additional trade = 12 pips overall profit. This result is in any case better that if I had let the EA run by itself as it takes longer to reverse a position. It would certainly have exited the trade with some losses before entering a new one in the opposite direction. So as you see, this trade that I will call the “NEWS” trade is a great bonus at almost no risk if all conditions are met.
This month results are very good thanks to those manual trades and because I took a bit too much risk also except for the NFP trade which was almost perfect. I did that because I was ahead of what the EA would have give me, but now I need to cool down a bit, focus again on capital preservation, lower the risk and concentrate on consistency instead of big returns. Next two weeks will be holidays for me so I will stay away from markets, beach, sun and sea will help me to come back to earth and start fresh in mid august.
All time return at last trading cycle : 33.3 %
Tested Months : 3/60
Maximum Drawdown seen this month : ~ -10%
You again?? Call me when you lose everything. Really it is very risky what you do.
Boo ! Yes, its very risky.
And you again here ? Haven’t you noticed that this is my trading journal, not yours ?
I wonder why you take the time to write and say… nothing ?
Please go home play into your sandbox, you risk almost nothing there.
But I make more in one single operation, one loss is nothing for me but for you one loss takes many and many wins to recover. Just make sure you don’t borrow from the mob or something.
I’m happy for you if you make more in one single operation, you are a great man, but here, I just talk about my trading, not yours. I encourage you to start your own thread and show to the world how great you are.
Honestly I don’t care if you are happy or not. I am just saying it is very risky and I don’t have time for that. Also I don’t show off anymore, it is kind of bad luck. Use your brain, the moment fortune doesn’t smile at you, you are screwed, meanwhile if she does not smiles on me for a while it will just look like a minor demiss on my balance.
I don’t care either that you don’t have time for… Hey! But why the hell are you posting here ? Have I asked you to do so ?
Yes I know, trading sometimes is a lonely and boring adventure, so Internet is here to help pass the time.
You certainly have a big balance and/or a good strategy and MM or are a skilled trader or maybe all at the same time. Unfortunately, I don’t have all of that so I make my best with what I have in hands until I find something better. Can’t you understand that each one has it’s own path to success or failure ?
Anyone has the right to live their lives but in real life you would be in jail for selling drugs to kids. Money is a drug, don’t forget that.
Hahahaha What are you talking about 
I’m not selling anything just posting my trades and results. And you, what other drugs do you consume ? Hahaha
Just make sure you don’t borrow from the mobsters.
Sorry, I’m not sure that I understand you. Borrow what, my trading money ?
Are paying atenttion?
What ?
And, who are the mobsters for you ?
Seriously, do as you please, I don’t care. Newbies arround, this is the kind of atittute that will cause you a big problem. Oh pain, painful pain. It is not funny losing money and to blow an account over and over is just more than anyone can bear.
Mr Gone, I agree with you, and again, if you read my first post, you will see that I don’t encourage anyone to trust or even to follow me. And again, this is not a trading system thread but just my journal, A place where I can write my thoughts, trades, discoveries, etc.
I appreciate anyone’s input and warnings like yours, and even if you are wrong about my attitude, I don’t really appreciate yours as you seem the guy who has the truth, the guy who knows it all but anyway, I will remain polite and respectful, I have read and understood your message like everyone or every newbie passing by will do, so it’s my turn, please understand and consider that our discussion is now closed.
