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I also done a quick back test on EURUSD M15 from 1 Jan 2012 till Today, with the default settings.

 

Though profit is positive, personally do not like the number of profitable trade versus total number of trades, which is less than 40%.

 

For every losing trade, the EA will open the next trade with 0.01, default, more than previous losing trade, and also increased the TP by 20 Pips while maintaining the SL at 30 pips.

 

Personally preferred to have Martingale EA with higher probability of wining trades, > 60, will reduce the chances of having huge draw down.

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Thanks for your input Jason.

I was there when it was made.What you said is true except it doesn't change take profit values it is always by default 90 pips take profit and 30 pips stop as you said. I'd change it for other timeframes.

It can take many losses unlike most martingales so is unlikely to blow up accounts unless you leave it for weeks on end.

Not trying to defend it is what it is I guess just thought i would make it available as it apparently compares well with most of the **** I've seen and backtested.

We'll see as the good people of this forum test it.

Good trading to you all.

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