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alternative to the martingale
I'm thinking of buying or selling averaging rather than duplicate With martingale. I mean, if I'm in a downward motion (for example) long term I use a scalper is the idea to reopen an order to sell above a previous order and put a stop loss in the middle of the two orders less than the number of pips profit to why I'm going ... but if the order go wrong again and continue on the downward movement the notion would be to open a goes above the highest with a number of items equal to the sum of the two previous orders but ... where I put a stop loss unique to each and do not waste money by closing all orders?
It's not very clear what do you mean to do.
The only thing I can say is that I wasted more than 3 years of my life and burned a LOT of real money trying to use or develop (I'm MQL programmer) hedging / grid / martingale strategies.
After 3 years of big losses and not sleeping nights I can say that there's no way: the only safe and wise way to trade is trade in one direction and put a judicious SL.
Of course you must have a profitable strategy with good R:R.
Otherways there will be 1 day that will kill your entire account... sooner or later.
Sadly this is the truth.
This is the reason that Professional traders use always SL and never hedging or martingale.
Rounder, your averaging idea is smart but tricky, watch those stop losses. Gigabrainy's right about the risks of martingale and similar strategies. They're tough and can burn your account. True, some might luck out short-term with martingale, but it's like a risky game of chance with no guarantee of long-term success. And folks, in Forex, no strategy is totally risk-free. It's all about smart risk management, using stop losses, and not overexposing your account. Diversify and think long-term.
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