I agree with you. The unfortunate thing for me with this is that it is smack in the middle of the day so it isn't the most convenient time to trade it manually, or better yet remember to even take the trade.

Graham

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Forex Factoid Home of the HedgeHog EA

looks good will forward test it thanks

Hi all
I would like to thank you all you guys for your efforts and sharing your experiences specially graham.
@ graham
I have been following your topic here and I have read all the original link about the system. you have done a grate job to make the system simple as much as possible but always and in all topics about new systems after some time the system become complicated because of improvement and extra features. It is not bad but I personally think the original system that u have explained first is the best and simplest one (as I am a fan of KISS).
So here I want to make a brief explanation of the system based on your saying:
• Favorite Pairs: EURUSD / GBPUSD / USDCHF / USDJPY / GBPJPY / EURJPY
• Timeframe : can be any(preferably H1)
• Time for trade : originally 00:00 GMT(also it can be 22:00 GMT)
After above pre-information here is the rule:

•@the open price of 00:00GMT (or 22:00GMT) open two positions in the same time:
• BUY with take-profit of 10 pips and Stop Loss of 50 pips.
• SELL with take-profit of 10 pips and Stop Loss of 50 pips.
Here is the possibility:
1)The positions are closed at TP level.
2)A position hit the SL level
3)Positions remain open more then 24 hours.
The case 1 is the favorite one. Let forget it. In case 2 we should go for "next day step for a loser trade".
In case 3 we close the position and will go to "next day step for a loser trade".
Next day step for a loser trade:
In this step we make some lots scaling for saving the loss. It will be done in this way:
1.find the loser trade(buy / sell)
2.calculate the loss for the trade(-50 if SL is hit – anything else if closed manually)
3.calculate the new lot size for the day 2:
(LOSS / 100) + Initial lot size. Example:
Initial lot size = 0.1 – let say SL is hit (loss = 50)
New lot size = (50 / 100) + 0.1 = 0.6
Or like this:
Initial lot size = 1 – let say SL is hit (loss = 500)
New lot size = (500 / 100) + 1 = 6
And vice versa.
4.in the day 2 we will do the same as original rule but trade with "new lot size" in the direction of the day 1 loser trade.

That is all.
graham, as the starter of this topic please correct me if I did and said any thing wrong. I posted this just for make the system as simple as possible. I have tested the system on my demo account but not in a regular way so let forget it. I will start testing the system live from Wednesday and I'll post the performance weekly.
Demo account size = 1000$
Initial lot size = 0.1 lots
Pairs: just majors
Broker : N2Trader
Any ideas about this are appreciated. I should say the system under test by some other guys too but I want to share my results as well, to make the system perfect.
Best regards
mimi

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We often borrow from our tommorrows to pay our debts to our yesterdays.
As always, who knows!?!.Let see what will happen....
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hi all
i have backtested the system manually from 2006.01.02 to 2006.07.03.here is teh result:
Pair : EURUSD
Spread = 2 pips
StopLoss = 52 pips(50$)
TakeProfit = 12 pips(10$)
all positions had been opend @ 00:00 GMT
all open positions has been closed @ 23:45 GMT
here is the balance curve and attached is the spread-sheet.

Attached Files

HedgHog.rar (11.5 KB, 177 views)

According to your spreadsheet you would not have enough funds to place the required trades on the 4th may, am i reading you correctly?

hi
u r dead right.as u can see in the spread sheet i have highlited the trade that u say as a uncommon one and od course there is another one in 2006.03.24 thats is un common lotsize.ant way the system is generally profitable and very logical maybe with deposit of 2000$(at least ) the problem be solves besides i', relativly new in the system and other guys like graham should check this out too.
any way just my 2 cent
best regards
mimi

hi mates
just want to say.stlil live testing.........

Attached Files

Desktop.rar (7.3 KB, 110 views)

Anyone still running and/or testing this system? I am interested in real-time testing results with the market as it has been lately,

Thanx,

GK

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Forex Factoid Home of the HedgeHog EA

There are a number of Martingale fans that do not agree with my opinion, and that is that ANY Martingale will eventually break your account. It may do well for several years and then within one day you are broke. I have backtested every Martingale system on this forum along with others, with data going back to 1999, using countless different settings. Every single one EVENTUALLY broke the account. Unless you have 50k of spare cash laying around and trade micro-lots (pretty poor return on investment), look for a simple strategy that has a positive expectancy and add lots as your equity grows.