I had somebody write this EA. Very interesting concept. Momentum to the winning side with Multiplier. Martingail to the losing side with option to set grid and increase lots. Wanted very aggressive EA. Very consistent with low risk.
You must understand that Martingail are only used for the losing trade. This EA trades in 2 directions. The 1 side (winning side) have an automatic multiplier with a trailing stop. This means your trade will increase to the winning side. You can have different settings for both sides. THe problem you get with Martingail is when you become greedy and wants to make to much profit and makes the grid very small. The Martingail must just be used to get out of the losing trade whereby the winning trade banks profits.With news you actually want the winning side to run fast as this can multiply your lots and bank profits.. The trick is to get the right balance between the 2. If your winning side banked profits and moved far out of range and retraces you can have 2 Martingale trades. This traps your price point untill 1 martingail closes and creates another winning trade.
Will try and test it even though am not fan of Martingales, but at least you seem to have a good understanding of them. In the wrong hands they will cause lots of pain and tears
I agree with your statement. An open ended Martingail is dangerous. This losing trade is one. But say you set the risk low. I traded an account up from 3000$ to 6000$ in one month. Traded it from 6000 up to 15000$ in month two just to lose 12000$ two weeks later, Guess why. Last years Jacksonville Symposium(USA interest rates). The fed first talked the interest rates off and then on. It was a 700 to 1000 pip move. My risk was just set on 300 pips. I could have hedged it, but that day my electricity went out and my wife had my car. That is why I redesigned the ea with a momentum side. Let The MG be there for the losing trade and let the Momentum be for the winning side. There is so many different variations that optimization take extremely long. I am also working on a inside out MG Grid ea.Where the risk is extremely low So I sort of left this one behind for later. I dont really care about the profits. I am in a bet, that I will not be able to double an account 5 times in one year. I took the challenge, i have 3 years to do it. This EA with the right settings should easily give you 10% per month. My target is 30% minimum with risk of below 15%. Per currency Pair.
I'm interested in the one in development. It sounds great. How far off are you from finishing it up? Also what minimum balance would you recommend for the one above? I tried running the ea on strategy tester and it says "your account is real and real trading is not allowed". What is up with that?
Settings : Blocking Exit:true Means the EA will stop after it took profit Lot Start: Self Explanatory Close Both Sides : Exit strategy Total profit: It will close if EA reaches a $ amount Grid losing Trades you have to set multiplier, Grid and TP Momentum Multiplier will increase your lots. Just note that SL % works like this. If the Momentum distance is 30 pips and your SL % is 80% it will immediately bring a stop loss 80% of the 30 pips. Which is at 24 pips. Do not use the Losing trades as agressive as in the settings
And Never use MG with JPY pairs or CHF pairs or any pairs that is risky like when GBP was leaving the Euro. And Gold can also run
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