patheway Posted June 11, 2010 Report Share Posted June 11, 2010 Listen to experience I just lost a ton of money yes in the tens of thousands with a EA like this! Do yourself a big favor throw this EA away and do not look back. Now listen some more I used to trade Martingales all the time. I thought knew what to do in every situation. I had all the tricks like turning the EA off finding my be and reset the TP or even taking a loss and reset the TP. Well as Stormin says if you use these things long enough or short enough it just depends on your luck. To me this is the worst type of gambling you have in Forex by far. It's a gamble you will lose. What are you going to do when your dd just pops up to like 65%. I tell you what you will do you start hoping and going crazy at the same time for the market to retrace and most of the time it will until the day it won't and on that day you have lost everything. Now if you have a hard head like I did and no one can tell you anything then at least do whatever you can do to limit some of the risks. You know this is really gambling. Now my EA has great math , it recovers well. So if I was to gamble again first I would know that I am gambling I am Not trading. On my EA if you put in a large starting lot size of 1 or 1.5 lots on a let say 8k account and you ran this only during the Asian season on the EU after 3 nights you will have your deposit back. You just need to make it 3 nights not even whole days. With that balance and a starting lot size of 1.5 you can take a 120 pip risk and then your account will blow. That means you are betting that the market will never go against your first trade more than 120 pips without a 35-45 pip retracement. Most days your fine so I ask you if you want to play you might as well get it over with in 3 days if you make it then if it blows again you have your seed money back but if it makes it again and again you will do great as long as you are very disciplined as your nature would be to increase the lots more because now you have 30k or whatever. Here's the kicker people that like to trade with Martingales are some of the least disciplined traders we have. So do what you want if I helped one person save their account then this post was worth it.. Patheway halcyonn 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.