Dont take me wrong but for martingale the profit of 1% a month is pathetic.
It doesn't look like he uses martingale, am I wrong?
He has thousands of negative pips and yet profitable which implies martingale.
Not necessarily, pairs involving XAU, MXN, NOK, and SEK count more pips by a factor of 10 which creates a bias and throws that whole pip count off. From what I know, he trades CFDs a lot which could throw off the pip count more than a factor of 10. I believe myfxbook is working to make adjustments so that the correct pip count is shown.
@RMC3WLP68T is right. My negative pip figure is due to some problems with OANDA CFDs pips accounting.
If you take a look to my 'equity line' is always in a higher position than 'Balance line'. I´m trading Forex, Bonds, Metals, Grains, Energies,....with my strategies.
I don´t believe Martingale could be a profitable long term option, maybe for Central Banks.
I agree that martingale will eventually blow up a small account unless a trader is very versed at using it during a limited time during the day and if they know what they're doing.
But if you leave a martingale system alone (set-and-forget) then it will eventually blow up your account.
Yes, a tell tell sign that a system is martingale is if the equity line is below the balance line. Also, the spike down and up in equity is a sign of closing a losing basket of orders for net profit. It seems there are better methods for trading that allow the person to sleep better at night. With martingale, you won't sleep. Martingale is only for traders that know what they're doing and know how to use it.
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