I use my own idea to keep the martingale works more till close all the cycle on profit.
The EA can control the number of max lots ... Take Profit for the first round is bigger than the rest of next orders ... while all the time Take Profit is bigger than the Stop Loss. EA use (most of the time) a breakout idea on H1 candle @ 01:00 am ... actually can be changed from EA settings ... The test run for only 3 weeks on 2009 because I have no VPS server those days, but I will put it tonight or tomorrow on mine. The profit was about 27.52 % for the 3 weeks, i.e, about 36.7 % per month !.
I believe that the idea of using different TP and SL will make the EA will go for longer time by making the probability to hit the TP is bigger and making the number of orders of the complete cycle is less !.
Once, I put the EA again on myfxbook.com, I will post the link hee :)
Yo may analyse the attached statement and give me your comments.
The core function of a martingale system is to recover losses and simultaneoulsy bank normal profits. Whether it wipes out accounts in a day or continues to work in the long run all depends on the risk apetite of the trader.
If you are using a solid strategy, martingales can enhance your system quite a bit. Otherwise, if they are trading without concept, they are a ticking time bomb.
I´ve coded strategies which also use martingale. They withstood the financial crashs over the past decade on backtests with several brokers, as well as with tick data. They had a visible drawdown during the 2008 meltdown, but they survived. I have a win-ratio of 80% with it though, so it is not the typical randomly trading martingale.
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