One of the most berated tools available to traders is the martingale. For an industry that requires emotional control, its really interesting how the very mention of martingale will generate an amazing emotional response. I had to write this article for another project but felt that it would also do some good over here because there is a lot of bad information floating around the Ethernet.
That's kinda propriety knowledge . I just wanted to say that Martingale is a very misunderstood and incorrectly applied method. You also need a decent account size. I wanted to develop a method that trades profitably regardless of what price does. It took me 3 years but I've achieved that. There are no stop losses--just hedging and a type of martingale method.
Proof of what I'm saying is at https://www.myfxbook.com/members/Pooler/beeksvps-ver-9-live/862616. I automated this method and started on Feb 7 with a $ 14 800 deposit. I've withdrawn $ 6200 since then. The first 2 months I didn't trade optimally and I had to change accounts. You can calculate from these whether this is an effective method.
Its a grid trading system that's 'always in'. As soon as a set of trades close then there is immediately a buy and sell opened again. So there will always be a minimum of 29 pairs x 2 trades open. Like I said--you need a decent account size to do this otherwise your money management will be under pressure.
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