Today 1 july 2010 the EURUSD went straigt up around 3% (went from 1.21937 straight to 1.25364) so martingale kept going against the trend and opened max lots of 10.24 wich blown the account. Today the Balance dropped form its high at $17,555.06 to only $ 1.21
ForexSeeker posted: Is it Bless firth Element or modify with indicator open trade ? So it limit is only can withstand 300 storm pip rite?
To make an addition to your question here , it was a storm of 343 pips in one day, and you see the result. I'd like to discuss how we can create a matingale system that can withstand such bad days . (i stil love the martingale principle) I suppose it should be a combination of diversification pairs, perhaps hedging pairs, basket profit (that takes profit of all pairs at once), smarter grid distance for martingale, probably smaller TF and only limited times for opened trades, only minutes in stead of hours or even days. And only a small percentage of the account balance accessible for the trading.
I never used The 5th Element, and the one above is the 2000 pips daily EA. Yes Bles 3 is very versatile. I am testing for a while with blessing 3 V3.7-6. I think b3 is the best ea from wich i did tests so far, it has different martingale capabilities together with the many functions build in. Currently i am testing different strategies on small TF with this EA. There is still big floating loss at some times, i try to backtest and optimize 10 years and find a setting that dont blow the account but i am experiencing that this is very difficult for small TF. When i would achieve that i'd like to diversify with 4 pairs from wich 2 pairs hedge each other and the other 2 pairs the same for reducing overall floating loss. I think the trick is to use a separate equity manager EA that takes profit on certain equity level for all pairs separate and simultamniously but i am not yet so far but i think a certain combination of this would have potential.
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