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ScalpingRus

Member Since Mar 10, 2015  116 posts ScalpingRus Apr 13 2015 at 08:11
BenNathanFTA posted:
Regarding Martingale - its taking the roulette red/black theory and applying it to trading... in my early days (about 10 years ago) i spent 6 months taking my first live account from $100 to $600 (admittedly risking too much at the time) using Martingale.... the problem is, once you get stuck in a range you're in a mess.... My start risk % was 1% and i would only trade one pair at a time, and yet I watched Martingale blow the entire account in 4 hours....

Martingale is like a ticking bomb - it lures you into a false sense of security... then one day when you are sitting confident you watch your account suddenly blow up....



 Martingale blew your account along with the system you were using. Martingale is only the form of wagering which you use to recover after a loss. The reason why you then entered a larger trader after you loss (martingale wagering) is based on the system which you used. Martingale is a ticking time bomb, but only when you are picking random spots to recover losses. For example, a person may have a sl set, and once the sl is hit, they open a trade right away in the very same direction which was that of the previous loss. That of course makes 0 sense, because if one concedes to a stop loss, then it is to assume that you believe the price will continue to run in the direction of the sl. People who trade in that manner, use stop loss, but much like that in the way of a casino as in a casino you have no way of knowing what the next card or number will be. In forex on the other hand, you can get a very good idea of if the buy or sell will result in a win based on TA.

Second guessing, may lead to your last guess.
CrazyTrader

Member Since Nov 21, 2011  1707 posts CrazyTraderfx (CrazyTrader) Apr 13 2015 at 08:21
ScalpingRus posted:
Martingale is a ticking time bomb, but only when you are picking random spots to recover losses.


For once I do agree with ScalpingRus, the way you use martingale is to reopen straight away the same position with lot incresased... but why? the real strategy wouldn't open a new trade because the opportunity is gone. EA must to wait the next real opportunity to double the next turn.

But this is off topic... there are dedicated thread for martingales.

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BenNathanFX

Member Since Sep 06, 2013  136 posts Ben Nathan (BenNathanFX) Apr 13 2015 at 08:58
CrazyTrader posted:
ScalpingRus posted:
Martingale is a ticking time bomb, but only when you are picking random spots to recover losses.


For once I do agree with ScalpingRus, the way you use martingale is to reopen straight away the same position with lot incresased... but why? the real strategy wouldn't open a new trade because the opportunity is gone. EA must to wait the next real opportunity to double the next turn.

But this is off topic... there are dedicated thread for martingales.


Both good points. Well at the same time, I was making th noob mistake of technical trading with out the fundamental backing lol .

HOLY GRAIL: Fundamental Analysis to chose your pairs/direction, Technical Entry/SL/TP for consistent Management of those decisions
aghigh

Member Since Apr 24, 2013  13 posts Seyed Mohammad Aghigh (aghigh) Apr 13 2015 at 09:53
hi
Multi Time Scalp
Tight SL And Good Profit
both account same


Aghigh
RSTrading

Member Since Jul 16, 2013  385 posts Rihan (RSTrading) Apr 13 2015 at 09:59
@aghigh

Your accounts are a bit young..

Live and let live..
Profit_Here

Member Since Mar 15, 2015  10 posts Profit_Here Apr 13 2015 at 13:43
RSTrading posted:
Hi there.

There are threads where you can go advertise your trading accounts, but with stricter rules.

I would like to invite traders to show off their accounts here if they pass certain criteria.

The criteria :


https://www.myfxbook.com/members/Profit_Here/profit-here/1187511

Risky trade to disperse account. 100% profitable trades. Risk can be reduced by 2-3 times. Accordingly, DD will be reduced and profits.

I know the price will be at that level ...
aghigh

Member Since Apr 24, 2013  13 posts Seyed Mohammad Aghigh (aghigh) Apr 13 2015 at 13:44
ok you can just wait and see
but its same strategy tight sl and sure tp
with this sl everty thing is fast ;)


Aghigh
adrian8891

Member Since Jun 03, 2010  696 posts Adrian Matusiak (adrian8891) Apr 13 2015 at 15:59
Profit_Here posted:

https://www.myfxbook.com/members/Profit_Here/profit-here/1187511



Drawdown > 88% ? Madness

PAMM MANAGER // Professional Fund Manager
RSTrading

Member Since Jul 16, 2013  385 posts Rihan (RSTrading) Apr 13 2015 at 16:34
RSTrading posted:

I would like to invite traders to show off their accounts here if they pass certain criteria.

The criteria :

1) The account must be real - no demo's. (please do not argue here that it is the same as a live acc. etc - the idea is not to engage in any arguments)
2) The account must be verified (please do not come and defend your unverified-but-want-to-participate account - there will simply be no interest)
3)DD must not be higher than 40% - (please. Once again. No justification for your above 40% dd, if it is higher - don't participate)
4)The account must be older than 3 months, maybe this is even still too young.
5)No martingales! (it might work for you, and I do not want to engage in an argument - just please keep to yourself and don't participate)

That's it. Only these five things. If your account passes that, feel free to let others know.


If your account doesn't pass these requirements, please don't post it here.

Live and let live..
forexpipcatchar

Member Since Dec 13, 2014  73 posts forexpipcatchar Apr 13 2015 at 19:07
Rihan isn't it amazing how they just come on and show whatever they have which usually irrelevant to the topic at hand and some throw their rubbish in when even they haven't achieved what is required. Mind you for a DD that is at the 40% I think it's very dangerous.

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.