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Thread: Martingale with SL (closing previous orders)?

  1. #1
    Join Date
    Jan 2009

    Default Martingale with SL (closing previous orders)?


    by my knowledge, martingale wipes out very quickly.
    What are the main reason?
    - low equity, because to much open trades
    - low equity, because to high open lot sizes
    = low free margin

    Maybe we can:
    set a fixed SL:
    - close always the previous order on SL, to reduce the amount of loss, if the market is falling or rising away
    - but leave the last trade always open, with a TP sum of all previous loss orders (break even) + a minimum profit of 0.1
    - last open order have the fixed SL twice

    Therefore we have a maximum (known) loss in a complete sequence, but not a stormy wipe out

    Max loss in a sequence = 300
    Account size =1000
    We must have 3 complete lost sequences in a ROW to drawdown to 10%! Thats not real...Maybe the wipe out will come, but not immediatly, if much time and succesfull trades between the lost sequences, maybe the account get healthy back again, to survive and go back in profit.

    Does anyone know a martingale system which closes the previous loss order?



  2. #2


    I agree with your idea and have proposed it to be used on Ilan 1.***
    Check out this thread....

    Hi All,
    I was discussing this in another thread but it is also pertinent here on Ilan. I proposed to close trades as they go on the losing side of the T/P point instead of letting them just get larger... I'll try to explain...with Martingale when a buy order is entered a T/P is also set.... higher. When the value of the currency changes it either closes the order at a profit (the T/P) or goes down the Pip Step value and a second order is entered with a new T/P (and bigger lot size). The T/P of the first order is also changed to the new T/P value of the second order. As a third order is entered all the orders are modified to change their T/P values to the T/P value of the third order. But now depending on your EA T/P and/or Pipstep "Input" values when the value of the currency finally goes up to the T/P point the first order will be closed at a small loss while the 2nd and 3rd orders, which have larger lot sizes, will close at a profit. (If you have many open orders you could also have multiple losing orders). Could order "One" be closed at a small loss when order three is created? As the loss from Order one only gets larger as additional orders are created. This way we can avoid the growing additional loses as additional orders are created. Kind of like a Stop loss triggered by the T/P value. Once an order goes on the losing side of the T/P.... close it automatically instead of letting it turn into a bigger loss. Another GREAT reason to close orders that can never go positive is that you won't be using up your "Margin" on dead orders, which is always a concern...especially with Martingale! Anyone up to the challenge??

    Additional findings.....

    Depending on the Martingale style EA you're using you can set the Stoploss to actually close positions as they got into the never profitable point without effecting the size of the next order....

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