Martingale principles
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Good day, I want to create a Martingale opening trades where first trade will be 0.01, 2nd 0.01 before it starts opening 0.02, and so on.
I want the main lot size to open twice before the lot size multiplier will begin to double the lot size depending on how the settings are.
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You will then need 2 other blocks than count how many losses happened after the start of the martingale series, and pass the block which uses the martingale after the 2 first losses.
But this "strategy" alone will still make you loose money. You should read this https://fxdreema.com/forum/topic/16093/what-you-need-to-know-about-trading -
@seb-0 can we connect on Zoom so that you see exactly what I'm talking about
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@NZEFILI
I prefer staying on the forum, you can paste the link of your project so I can see -
@NZEFILI IMHO you should try to find a real strategy instead of working on martingale. It is a losing strategy in the long run. That said, you will need a structure like this:
https://fxdreema.com/shared/6o0uTdg3e
This is my personal basic martingale. You can use it as a base for yours.
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@l-andorrà Martingale is not a loosing strategy if used properly and tested well
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I respectfully disagree.
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@NZEFILI Martingale is not a strategy, it's a money management concept, if you find how to implement it with out loosing share the stratagy...would be good to know.
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@jstap All depends on your pip step for opening trades and your multiplication factor.
Have a Good Distance pip step
Have a reasonable multiplier. -
So that is your strategy, martingale is the money management
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@jstap i have a strategy of opening trades, but if market goes against me, its been properly managed by martingale principle.
my multiplication factor is 1.4, sometimes 1.3, and i use a pip step of 20pips before another trades reopens.so im practically not using an aggressive multiplier like 2. my lot sizes are within the range of 0.01 to 0.03. i practically take what i see in a month. 3 thousand dollars, depending on the number of pairs traded. so martingale is a great money management setup and can also be used as a strategy
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@NZEFILI It can't, it's your money managment process to your stratagy.
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What Jstap is asking: How do you decide to open trades? not what is your martingale(money) strategy
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@jstap how can I create an EA based on an indicator on another indicator window.
For example, on the RSI window, I want the levels set at 20 and 80, then a moving Average will be added on the Rsi indicator window, if moving Average touches 80 line, open a Sell, touches 20 line, open a Buy.
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You can't add ma to rsi on fx, you would need a custom indicator to do this.
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@jstap can you recommend any
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I don't know of any but you can find these by searching google.
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@jstap Good day, I worked on a Martingale EA, everything is working perfectly, but the Take profit is not showing. But when price reaches the TP point, it takes profit. But the TP is not showing on the chart.
Please how can I rectify this so TP can show. Thank you
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Hi! But martingale IS a losing money management strategy. Why would anybody risk 10,000$ to get back 10$? That's just insane.
Two more facts:
- No amount of backtesting and historical data will save you from a future string of losing trades, even if you make it run for 50 years in the past.
- You won't be able to use compounding for exponential growth, which is also insane.
Just a friendly warning.
If you cannot see your TP levels you may want to check your default chart properties and colors.
Hint: Once you have found the problem you can save the template as "tester" or "default" so the platform loads it automatically.
Hope this helps.
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If the amount you bet is purely depending on what your have won or lost, it is a subjective personal decision, rather than a strategy in strict sense
