this picture presents the trading system easier

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the guys that programmed piplite2.1 maybe can help you/me lol


Piplite v1.0


i dont know them personally but am trying to trade with there system and another
right now.good luck

also i know of the matingale doubling system but the fibnoacci progression system is even less risk

1+1= 2,1+2=3,2+3=5 etc.............................instead of 1+1 2+2 4+4 8+8 etc...............


later,

thanks very much
yours is the best suggestion i have received so far
when serious the EA is built , i will consider adding this option
for people with much lower risk appetite

this suggetion works better for traditional martingale robots
thanks a lot

Firstly...this is dangerous stuff the old martingale and it WILL blow your account...I promise you....UNLESS you are dynamically hedging the other side and covering the losing trades at the same time (which you are not).

If you are going to persist with this -

I'm with Toccocta's comment that you would be better of killing the trade rather than carrying the loss. What happens if the market falls 500 pips prior to retracement? Plenty of people said "it would never happen and has NEVER happened" (an idiot named Steinitz rings a bell), that was until last year when a real manure storm hit the markets. I bet Steinitz words of "the market always comes back" will be hurting plenty of his customers now LOL.

But anyway....I digress. At the moment you seem to have a funky averaging in, weighted martingaler happening here and that's all and good in a channel market but if you try this strategy on a real sourpuss of a currency like Cable or EUR/JPY, you will be destroyed in no time.

Not to mention...M15 PSAR?? It's a bit laggy.

FxN

Internetgrandmaster - and how would you have handled the situation a few days earlier on the 9th - talk us through it and how you would have made a profit. Average price would be around .9096 and market is way off that now.

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the answer is very simple
assuming you are using a 1000usd balance

the first 3 trades are 0.01 each
so the fourth trade is 0.64
this trade closes all the other trades with a nice profit

the drawdown in this case is less than 10 percent of your account
and note that this is an extreme condition which rarely happens and you still
get a DD of less than 10 percent

I have said it over and over again, this system has been built to handle the
worst scenarios

thanks and i need more of this challenges

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the trading system used by steinitz was a high drawdown system which he admitted himself
on the other hand this system is a low drawdown system, you rarely witness a drawdown of more than 10 percent if you follow the money management rules.
Also i took into consideration currency characteristics before settling for either eurgbp or eurchf ( whichever you want based on prevailing market circumstances)
so if you think this system will blow your account , i think this should change your perception
Anyway , if you are interested in helping code this system into a robot , then you are welcome

i have tested your suggestion
using fibonacci progression will mean reducing the divisor
so trades can end in profit after a drawdown like the one shown in the chart above
the divisor would need to be reduced to 25 or 20

In the example we are discussing (EURGBP - 9th March), I guess I don't understand how you are calculating lot sizes.

These figures are roughly correct
So we sell 0.01 at 8975 20.30hrs 6th March
Sell 0.01 @8970 01:00hrs 9th March
Sell 0.01 @8969 04:15hrs 9th March

.....then we get the big market rally up to @9186 but the PSAR is triggered again @9160

Our latest entry before the rally was 8969 so 191 pips (9160 minus 8969). 191pips divided by 30 is 6 discarding fractionals.

So how do you arrive at the next trade being 0.64? Is this because you follow the 0.01, 0.02, 0.04, 0.08, 0.16, 0.32, 0.64 sequence? So if the last trade had been 0.04, the size traded would have ben 2.56?

You could end up trading some big lot sizes here.

you didnt read the manual patiently or you probably didnt understand it

if the latest trade ( the trade before a new trade) has a drawdown of less than 30 pips then the lotsize of the new trade is the same as the lot size of the previous trade

so in this case, when the second trade was opened , the DD from the first trade was less than 30 pips and when the third trade was opened , the DD from the second trade was less than 30 pips

so the lotsize for the first 3 trades is 0.01, 0.01 and 0.01

the lot size calculation is simple if you read patiently