So, I have been playing with the dreaded martingale for several years now. Tons of blown accounts (which is what the martingale is famous for).
Since I look at Forex through the eyes of a gambler and not an investor. This dashboard was designed around that philosophy. Similar to playing multiple seats at the blackjack table. Trading multiple pairs at the same time instead of hands of cards.
Recently, I came up with the idea to limit the number of iterations that the martingale could use. I settled on 8. This way, I could control loss to a maximum as set by the base lot size. .01, .02, .04, .08, .16, .32, .64 and finally 1.28. If all of these orders lose, then we would lose a maximum of about $1,200.00.
That being said, I started playing with different entries and exits that would (hopefully) never exceed that fatal 8th loss.
Here is what I have come up with...
3 Year back test. Same settings on all pairs so I do not fall into the curve fitting trap.
1 EA to manage them all. Starting with simple 60 pip SL and 60 pip TP. 2x Multiplier on losing trades. 21 Pairs tested, but only those that use 8 iterations or less to recover get to move forward to the next round on a demo account. As you can see, there are MANY settings I have played with. I will be doing some tweaking in the future to see if profitability can improve.
Beyond each pairs doing its own thing, I wanted to be able to watch overall account health and take profit when it happens.
CLOSE PROFIT button will close all trades in profit and reset their martingale calculation on their individual pairs to base lot size.
CLOSE ALL will close all trades and reset their martingale calculation on their individual pairs to base lot size.
Back Test info to follow with a Trade Explorer to start on demo account after the first of the year.
Update 12/30/20 - Backtest completed on 21 pairs. I am choosing the pairs in green that each went through 3 years of trading without needing 8 trade iterations to recover.
Since we all know that historical results are no guarantee of future results, proper withdrawal schedule should be implemented to keep the money flowing.
My personal goals are to pay off debt and build a retirement plan that I can control.
Happy New Year all!
Update 5/2/2021: Revamped EA. New Backtest start at post #14. Trade Explorer added with start date of 4/24/2021 when I started this EA on live account.
Since I look at Forex through the eyes of a gambler and not an investor. This dashboard was designed around that philosophy. Similar to playing multiple seats at the blackjack table. Trading multiple pairs at the same time instead of hands of cards.
Recently, I came up with the idea to limit the number of iterations that the martingale could use. I settled on 8. This way, I could control loss to a maximum as set by the base lot size. .01, .02, .04, .08, .16, .32, .64 and finally 1.28. If all of these orders lose, then we would lose a maximum of about $1,200.00.
That being said, I started playing with different entries and exits that would (hopefully) never exceed that fatal 8th loss.
Here is what I have come up with...
3 Year back test. Same settings on all pairs so I do not fall into the curve fitting trap.
1 EA to manage them all. Starting with simple 60 pip SL and 60 pip TP. 2x Multiplier on losing trades. 21 Pairs tested, but only those that use 8 iterations or less to recover get to move forward to the next round on a demo account. As you can see, there are MANY settings I have played with. I will be doing some tweaking in the future to see if profitability can improve.
Beyond each pairs doing its own thing, I wanted to be able to watch overall account health and take profit when it happens.
CLOSE PROFIT button will close all trades in profit and reset their martingale calculation on their individual pairs to base lot size.
CLOSE ALL will close all trades and reset their martingale calculation on their individual pairs to base lot size.
Back Test info to follow with a Trade Explorer to start on demo account after the first of the year.
Update 12/30/20 - Backtest completed on 21 pairs. I am choosing the pairs in green that each went through 3 years of trading without needing 8 trade iterations to recover.
Attached Image
Since we all know that historical results are no guarantee of future results, proper withdrawal schedule should be implemented to keep the money flowing.
My personal goals are to pay off debt and build a retirement plan that I can control.
Happy New Year all!
Update 5/2/2021: Revamped EA. New Backtest start at post #14. Trade Explorer added with start date of 4/24/2021 when I started this EA on live account.