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Hey Wolfe can you explain what a martingale EA is and how it works?
Martingale system has widely used sometime ago on casinos. The teory is simple: you bet once, and lost, then double bet second time, 4 bet third time, 8 bet fourth time... until by probability you win, covering all losses. You just need to start little and have enough money in your pokets. That's why the casinos puttted a limit on the bets.
On financial markets, thats similar. For example, you start with 0.1 lots, with a TP of 20 pips and a large stop loss. then each 20 pips, you open a trade doubling the previous lots, until the trend changes, take the profit of the last (larger) trade, and close the others.
There are a variety of strategies based on the same, for example not doubling (factor x2), just applying a factor of 1.5; other strategy is to vary the distance between pips (a bigger lots, bigger distance).
I used a lot 10points3 Martingale EA, with nanolots (0.01 lots) and a large account, but in the end is too risky to trade like that.
after reading posts about martingaling systems, i have come to realize that most rely on guessing an initial direction (e.g., wolfe's system) and then betting on that same direction thereafter. after each losing bet, the trade size is increased by a certain factor.
is it not possible to apply martingale money management strategy instead on a trading system that does not have to guess an initial direction... for instance, if an EA/system trades eurusd long at this moment in time and loses, and it decides to short eurusd subsequently, the martingale approach is still applied...
as commonly stated, the real weakness of the martingale as applied to forex is that trends could last longer, which means a higher chance of experiencing long losing streaks... why not just create a trading system and then apply martingale as a money management approach? i wonder if anyone here has done that?
Martingaled EA 10points3 uses EMA crosses to enter trades, a commonly used system to get into a trade for many systems. Obviously if you haven't the correct setup for those EMAs, as 10points as any other system could fail to enter in the correct trend way.
Martingaled EA 10points3 uses EMA crosses to enter trades, a commonly used system to get into a trade for many systems. Obviously if you haven't the correct setup for those EMAs, as 10points as any other system could fail to enter in the correct trend way.
I have been using martingale very successful...you have to combine it with a good strategy...no guessing. I only start my first lot when I have a strong signal...
I am late to join this thread. Have played around with writing an Ea similar to this one (from what I have read) and would like to contribute however I can.
What would be a good starting point to become familiar with this EA (i.e. version, set files, etc) ?
Linear Mode
