Mike check out Blackbeard's Grid in the Systems Section.... it's a modification of the idea.
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DislikedAttached is a Hedged Martingale automated trading system based on the concept explained by tdion in his post:
http://www.forexfactory.com/showpost...5&postcount=19
Just attached this script on your chart, preferably a pair that moves at least 25 pips in your direction or 65 pips against your direction. Once it is running, it will wait for you to initiate the trade. Just manually enter any position either it be LONG or SHORT and it will take over. (1 mini lot per $5K account)
Leave the variables TakeProfit, HedgeGap and BreakEven as is at 20.
Best of course is to start it off after 5PM EST or anytime after your broker charges swaps.
Do not use with brokers that charge Commission. It will fail as commission is not added in the code.
Best used with Broker that offers 400:1 or better leverage, 50% Hedge Margin Broker - this way, you use only a small amount of Margin to maintain those lots. Likewise, Fix Spread - so all will exit at the specified SL TP. Spread widening can cause one set to close prematurely.
Its a nice strategy actually. A $5K account, can win $20~$50 daily. I have been demoing this since this week. And made good money. Just today, I made 3 successfull 20 pips profit regardless of where GBPUSD went. $60 per $5K is a good 1.2%.
This version is valid on DEMO accounts only.Ignored
DislikedI personally dont do this Martingale system on a large scale because I use another higher paying Hedging system with my Pooled Hedge Fund where only investors get to see the system.Ignored
DislikedAttached is a Hedged Martingale automated trading system based on the concept explained by tdion in his post:
http://www.forexfactory.com/showpost...5&postcount=19
Just attached this script on your chart, preferably a pair that moves at least 25 pips in your direction or 65 pips against your direction. Once it is running, it will wait for you to initiate the trade. Just manually enter any position either it be LONG or SHORT and it will take over. (1 mini lot per $5K account)
Leave the variables TakeProfit, HedgeGap and...Ignored
DislikedThere is a free book that explains how it works and why everyone that has gone before has failed. The book is called Mathematical trading. I can't tell you anything more than that because of the limitations of this board. Sorry.
BobIgnored
DislikedMartingale is not a system, it is a money management scheme. And as such it cannot make a losing trading system into a winner. This is a mathematical fact, we don't need to discuss this part, trying to prove it wrong or insisting that it is wrong is like claiming that 1 = 1 is wrong. Its basically a waste of time.
If you have a system that uses martingale and is profitable then it would also be profitable if you leave away the martingale part.Ignored
Dislikedimagine if your system had consecutive loss max 5 for a long time of period, let say for few months or 1 year. and let say daily trades average in 5 to 10 trades.
If you have such system, A: using a same lot size each trade compare to B: martingale the lot size, the answer is obvious.
Equity graph for A is going to south..while equity graph for B is going to north.
The challenge is to find a system that limited the consecutive losses.Ignored
Dislikedsearch for "Mathematical Trading" and am not coming up with any matches. Can you please share any additional information..snipIgnored