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Originally Posted by dabella
Timbobo, IMHO your EA is not replaying the exact strategy here. I try it on strategy tester and each time a TP is hit the EA closes both open and short position. This is not the case of Blessing system because if you start and the market go down 20 pips you only will close the short side, keep the long open and open a new long of x2 lot size. This makes you save in spread.
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Probably you are right, I did not get right understanding. EA use 20 pips TP and SL, so it keep the system out of mess.
If market goes down when do you close your first open long? You add new doubled long (so you have 3 lot size longs open). Market goes down, then you add again doubled long and keep all previous long open, so it will be 7 lots open and you are still on third level. If market keeps going down a little more will get:
1 - 0.1
2 - 0.1 + 0.2
3 - 0.1 + 0.2 + 0.4
4 - 0.1 + 0.2 + 0.4 + 0.8
5 - 0.1 + 0.2 + 0.4 + 0.8 + 1.6
6 - 0.1 + 0.2 + 0.4 + 0.8 + 1.6 + 3.2 = 6.3 lots open long
There is more risk than in pure Martingale.
And all these stuff will not save you a spread as you open the same number of orders as my EA. It does not matter when you close - you pay spread on openning.