No money management is used as using MM with such martinagle system will lead to exponentially increase in the DD due lot increment because of balance increment. This way, as much the account will make profit while keeping same lot size will lead to increasing the safety factor to make the account resist bigger DDs. Trader can increase the lot size slightly (manually) for every specific profit percentage, fore example, every 30-50% ...
I use minimal lot size that will keep me save in the market, starting lot size I use is 0.1 lot. Lot exponent is 2 and Grid size is 25 pips. The EA has profit collector in $$$ function that make closing open orders in any direction is dynamically depends on the number of opened orders.
The EA could be used safely on $10k account too, or micro account with 0.01 lot size.
Its like a grid and cycle EA which keeps stacking trades until in profit. I have seen it's type a million times and at any given point they look good but they will blow up when the market trends HARD. In fact I developed something very similar to this several years ago.
forexpipcatcher posted: Its like a grid and cycle EA which keeps stacking trades until in profit. I have seen it's type a million times and at any given point they look good but they will blow up when the market trends HARD. In fact I developed something very similar to this several years ago.
You are right, forexpipcatcher. To sucess in such this type, you need to have a good capital, the minimum lot size, the right settings, and finally, non-greedy trader!.
forexpipcatcher posted: one more thing you will need if you are to be successful and that is the spacing of each trade. Don't make them close and you might succeed. This means less profits but a better chance of survival
Forexpipcatcher ... Thanks for your really positive discussion. I did use in the past 36 pips ... Yes, it is much safer but the profit collect is too slow. The account was 10k. As a compensation to that, I use now 25k account with 25 pips. Also, I admit that using this EA on low volatility pairs like usdjpy is more better, but I like to see more daily action as long as I use demo account. May be in the future will put a new account with much much safer settings, but my server is busy with too many mt4 platforms are running all the time!.
I used this EA in the past to trade a big account (managed one), but the owner of it was so afraid when he saw a DD of only 8% :( ... I can't remember what was the total profit %, but that happened after about 2 months of trading. He decided to stop it!.
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