Wolfe, thank you for this excellent post.
People should read it carefully, and think more what a collaborative work means.

Thanks Wofle - for putting an end to this useless strategy.

It'll also save a lot of disk space!

True, martingale never was a strategy, just a gambling method.
To do martingale nobody need a EA, can do this very well manually

__________________
"Quantity of intelligence on planet is constant. Only population grow."

well said. Put an end to the martingale madness. Its a useless adventure!

martingales are death traps!

Hi,

Don't give up on the Martigale System just yet. There are still hope for it if you use it to compliment some of the stragtegy out there.

Instead of using Martingale as a system/strategy for your trades, why not try to use it as position normaliser for any strategy you are using. For example if you uses a trend reversing signal strategy normally you will enter trade when you get a reversal signal and then set a PL & SL right? Instead of setting a SL, why not use the martingale system here to open another position to normalise your 1st position when the market heads to an opposite direction. Set the total position to a max of 5 to 8 then SL if the continues to trend in the opposite direction.

Your PL will change according to the number of position opened and will increase the probability of hitting your PL.

Have anyone ever compare a backtest result of any system with different PL and SL? I believe all have and most of you will realise that for every pip of SL you increase, you'll increase the total of winning trades. Same goes to your PL, every pip reduced, you'll increase your number winning trades wihtout changing the strategy.

Well, if you incoporate this martingale system into your system, you may very well have the same effect. It will increase the effectiveness of your system provided if you don't over doing it (put a limit to the max number of position).

Of course saying is easy, but if you don't try, you won't know.
I have been trading forex for 3 years and I've never come across any strategy that can last more than 1 month before wiping out my account until I use the combo strategy I suggested above. I have been using this combo strategy for 7 months now, and 'touch wood' it has not wipe out my account yet. It even survive through all the harsh condition of the Subprime shock and the multi cut of interest rate by US Fed.

Let me try to attach the statement graph for my forward testing since Aug07:

Just to give some hope to some of the Martingale supporters out there

Attached Images

DetailedStatement.gif (4.9 KB, 1010 views)

another one

Attached Files

DetailedStatement.htm (100.4 KB, 108 views)

another one

Attached Images

DetailedStatement.gif (5.3 KB, 817 views)

Attached Files

DetailedStatement.htm (819.7 KB, 88 views)

Another one


i coulden`t upload the detail statment.

Attached Images

usd_jpy.gif (6.3 KB, 701 views)

this is for wich expert graph ?