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20-40% performance fee (with high watermark) for Forex traders
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Członek od Apr 25, 2011 250 postów
Remus Miclea (NextLevelForex)
Jan 15 2012 at 18:13
Chikot posted: I cannot wrap my head over why people use martingale at all. I'm 100% sure it's the promise of recovering from a loss. Instead of accepting the original trade was wrong, and cut the loss, it's much easier to believe the market will turn around, at least enough the break even. 'Yes, I'm down 100 pips, but look, if I double my position the market has to recover only 34 pips and I'll be break even. After it went down so much, surely has to recover, at least a bit'! That's one aspect of the unprofessional trading you mentioned... There are uses of martingale that don't wipe the account in one blow, like linearly averaging down with fixed number or positions, or even slightly increasing the lot size while keeping the number of positions even smaller (like 1, 2, 2). I though that was being used in the account in question, since the trader said 'but always using a protection'. Either way, I agree that using martingale is very damaging to an account. If it does not crash it, at least it's trashing the performance metrics I'm tracking. He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford |
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Członek od Nov 15, 2011 1 postów
Nafis (imtiaznafis)
Jan 16 2012 at 07:50
Dear Remus,
Yes martingale can be very damaging to an account if not used properly. There are some position which are badly timed which can be saved by this method. Where people go wrong they try to save all position using this which leads to wild draw down. But to save a mistimed trade I am yet to find a better way A Successful speculator bases no move on what supposedly will happen but reacts instead to what does happen |
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Członek od Jan 14, 2010 2186 postów
Chikot
Jan 16 2012 at 10:19
Yes, I completely agree. it's too dangerous.
Losses might get out of hand especially when trader is in losing streak. NextLevelForex posted: Chikot posted: I cannot wrap my head over why people use martingale at all. I'm 100% sure it's the promise of recovering from a loss. Instead of accepting the original trade was wrong, and cut the loss, it's much easier to believe the market will turn around, at least enough the break even. 'Yes, I'm down 100 pips, but look, if I double my position the market has to recover only 34 pips and I'll be break even. After it went down so much, surely has to recover, at least a bit'! That's one aspect of the unprofessional trading you mentioned... There are uses of martingale that don't wipe the account in one blow, like linearly averaging down with fixed number or positions, or even slightly increasing the lot size while keeping the number of positions even smaller (like 1, 2, 2). I though that was being used in the account in question, since the trader said 'but always using a protection'. Either way, I agree that using martingale is very damaging to an account. If it does not crash it, at least it's trashing the performance metrics I'm tracking. |
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Członek od Jan 12, 2012 11 postów
Ningaloo Investments (gcardo)
Jan 16 2012 at 13:18
Hi Remus,
If you have a chance, please take a look at myfxbook. http://www.myfxbook.com/members/gcardo/gc1/221880 Best, Gustavo Patience + Discipline - Greed = Success |
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Członek od Apr 25, 2011 250 postów
Remus Miclea (NextLevelForex)
Jan 17 2012 at 03:08
gcardo posted: Hi Remus, If you have a chance, please take a look at myfxbook. http://www.myfxbook.com/members/gcardo/gc1/221880 Best, Gustavo Thanks Gustavo, I looked and liked what I saw, but the account is too young at this moment. I'll look again in a month or so; if the metrics I track are still as good as today, we'll talk more. He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford |
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Członek od Jan 12, 2012 11 postów
Ningaloo Investments (gcardo)
Jan 17 2012 at 11:30
Patience + Discipline - Greed = Success |
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Członek od Nov 10, 2010 24 postów
mysonucat
Jan 17 2012 at 13:02
gcardo posted: Great Remus, Let's keep talking You can also follow me on tweeter @gcardo. since how many months or years you guys are in this business be clear at heart things will work for you |
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Członek od Apr 25, 2011 250 postów
Remus Miclea (NextLevelForex)
Jan 18 2012 at 03:27
(zmieniany Jan 18 2012 at 03:27 )
nasco posted: STABLE & SAFE FOREX TRADING RESULTS! I also have an account for review by anyone interested in managed forex trading. If you are ready for stable and dependable forex results, take a look at this live account link and review the details carefully. Safe draw down is very low, equity,profit, and balance curves are smooth, and all trades (events) are profitable. Over 7 years of hard work in the forex market has gone into this proprietary automated trading system, not available to the general public, and not for sale. There are limited trading account slots available, so if interested please respond no later than 1/15/2012 to reserve your trading position. Minimum opening account balance is $50,000, so serious enquiries only please! http://www.myfxbook.com/members/nasco/live-account/186575 STABLE = yes, so far... SAFE = absolutely not!! First of all I must say that 'limited slots' and 'no later than 1/15/2012' are quite a turn off, for me and many others. I was enjoying the holidays at the time of your post, and even if not on vacation I'm sure I would have not signed up. Common, you only had 1.5 months of history, who do you think you were fooling with this? Now that I'm back I decided to take a look at your account, maybe you had something genuine in there, and my quick initial opinion was wrong. It took me less than 1 minute to find Martingale at its best... Actually at its worst, I should say! I thought that's what you meant by 'all trades (events) are profitable', but did not know to which extreme you were taking it: 01.13.2012 03:31 01.13.2012 11:10 EURUSD Buy 0.50 - - 1.28630 1.26807 -182.3 -91.15 7h 39m -0.49% 01.13.2012 03:57 01.13.2012 11:10 EURUSD Buy 1.00 - - 1.28558 1.26807 -175.1 -175.10 7h 13m -0.95% 01.13.2012 08:26 01.13.2012 11:10 EURUSD Buy 5.30 - - 1.27851 1.26801 -105.0 -556.50 2h 44m -3.06% 01.13.2012 10:26 01.13.2012 11:10 EURUSD Buy 51.60 - - 1.26644 1.26799 15.5 799.80 44m 4.54% Now I know that at MB Trading the lot sizes are 10 times smaller than they appear, but even so, starting with 5 microlots and ending the basket with 5.16 lots, in just four steps, is the most desperate approaches I have seen! It all makes sense now... You need $50,000 for the excessive lot sizes you use, not because you want to triage your investors. I hope you realize what you are doing and stop now, before you destroy your account and maybe others, too. Remus He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford |
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Członek od Oct 27, 2009 28 postów
Nasco (nasco)
Jan 18 2012 at 04:39
Remus -
You might be right, and then there's always the facts, so keep watching the link. Relax, and Get Paid! |
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Członek od Oct 26, 2009 3 postów
Pedro Grilo - Forex Farmer EA (bfe00325)
Jan 19 2012 at 00:40
Hey guys, i saw you were talking about martingale... well i've developed in last months a EA using pure math and gambling strategies (one is martingale)... it's pretty safe if you follow the rules but if you step out.. ouch! check my accounts here at myfxbook or check my website at www.forexfarmer.net
Feel free to join my Private Area and you are welcome to test it and help me to improve it... Give me a touch by email or skype! Regards to you all, Pedro Grilo ForexFarmer EA |
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