I do not have the EA and yes i hope that someone can make it with my proven idea.
I cannot sort out the martingale part myself but yet i managed to build one without martingale n backtest it n the result is GOOD!
Firstly the MUST criteria for martingale.
at least 40-50% winning rate, yes my strategy achieved this.
low consecutive loss (mine at 2 consecutive loss)
target pips (20 pips) acceptable
Yes, with low consecutive loss makes martingale perfect, where double up the lots after losing a trade, where you only have to double up once with 2 consecutive loss.
I backtest it with 3 months back with over 140 opened trades on gbp/jpy 4h chart, 140 trades is considered a lot for 4h chart.
The strategy is to make use of candlestick reversal pattern,which is based on the winning system of the month,but not exactly the same.
Criteria to open trade
BUY - one low bar, followed by one higher bar, followed by one lower bar again SL/TP 20 pips.
SELL - one high bar followed by one low bar, followed by another high bar SL/TP 20 pips.
I tweaked with the sl/tp and found this setting among the best, those who are interested to backtest this i can upload the EA later as im using ipad to post this.
Please let me know if anyone can help me building this EA with martingale, and if u build this dont build it limiting to certain timeframe or currency as we can tweak it with other chart n timeframe as well
From a gambler (myself). I’ve played roulette and baccarat using this method. Sure I ended up with a profit but do you know why I stopped?
My worst nightmare happened on baccarat. 13 streak dragon. I was on a low $10 min table and my final bet was over $160, 000. For those that are thinking what about table limits? When you are a VIP they will open up tables when you ask for it. $10, 000 minimum bet to $200, 000 maximum bet. Over $160, 000 bet to win $10? Ask any investor that is stupid. If you don’t think so then I will bet with you.I ended up winning but I was so shocked that this unlikely event happened that I never will use Martingale again.
Martingale correct?
Say you were playing roulette.
Red or black.
Paying 1:1
House edge: 5.4%
Martingale is NEVER a sure thing. Think about it. If you lose you double up to get back your losses correct? Yes to a certain point. Money=finite. You do not have unlimited money therefore this system will eventually fail. Why? Because you are not removing the house edge. When there is a finite number of time you can use the margingale strategy it won’t work as evenually sometime you won’t be able to double and the house will take their cut of the money you gambles with.
Therefore unless you have an advatage or a winning system that gives you over 50% chance of winning, don’t use if. You will get burnt badly.
Hi guys,
thanks for your kind advices and personal insights. Firstly i would like to inform you guys im totaly aware of the risk, and i would do thorough back test and forward test before going live.
I myself used martingale in casinos, win and losses of course as i do not have infinite funds.
So martingale with relatively ok amount and really small sl n tp is my aim.
Guys if you want to advise on quiting martingale, stop it i dont need it
Thanks anyways
I want to know something that if one trades with a martingale strategy manually or with a martingale EA but he trade micro lots and have good account balance, Is it possible that his account will never burned? I mean I am using a martingale EA and I gave it 1500 dollars per pair to breath so am I doing it right?
Well, that is what those who believe in martingale believe in,what i believe in as well.
Martingale win in too small margins,hence manual trading wont make it worth,hence i would want to make an ea for it.
