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Thread: Closing Previous Orders in a Martingale Sequence

  1. #21
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    Quote Originally Posted by BillR View Post
    IX....Simple Martingale trading both ways...I'm having trouble getting the results to UPLOAD...don't I just attach the file??
    ok:

    we buy, market is going up 300 points, bull market
    TP is 20
    at 1000 we buy 0.1, market is going ip to 1020 we realize the profit
    at 1020 we buy 0.1 and sell 0.2, market is going to 1040 we realize the buy order profit, sell 0.2 is still in minus
    at 1040 we buy 0.1 and sell 0.4, market is going to 1060 we realize the buy order profit, sell 0.2 + 0.4 is still in minus
    at 1060 we buy 0.1 and sell 0.8, market is going to 1080 we realize the buy order profit, sell 0.2 + 0.4 +0.8 is still in minus
    at 1080 we buy 0.1 and sell 1.6, market is going to 1100 we realize the buy order profit, sell 0.2 + 0.4 +0.8 + 1.16 is still in minus

    am i right?

    you need:
    - minimum 20 point reverse to close all sell martingales break even, needs very good coding to close all sells immediatly, calculated without slippage...
    - very big account to alive a day with 300-500 points in one direction, not unusal this time
    - the hope, the market makes no gap in one direction
    - trading only eu and us session, to become the needed reverse

    yes this can be working, i think only with low averging pairs like E/G, but smaller reverses, less profit, but more secure, if you trade this system with GBP/CHF, average 400-700 points, you wipe, or you have TP and entries sets very wide = big account...

    in fact: not a bad system, but very very risky

    Personal I trade martingale manual, EA in progress, but i wouldn't trade your system

    IX

  2. #22
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    Quote Originally Posted by ixbone View Post
    funyoo, you are my hero of the day :-)
    I'lltry it
    funyoo,

    well i have to declare an extra OrderOpenPrice function
    but your code gives me maybe the right direction :-)
    have to read some extra mql

    thanks

    IX

  3. #23
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    funyoo,

    now i know why it can't be done in this matter.
    if max trades = 5, and we close the previous orders (closeprev func) except the last 2 orders. the martingale array lost 3 of the 5 max trades and makes 3 new orders, the closeprev function finds 5 orders and closes 3 of the 5. The martingale array lost 3 of 5 orders and makes new 3 orders - we are now in a loop :-)

    my problem is, i need the array to calculate and close the complete sequence for breakeven and TP calculation

    i dont know if i can calculate a breakeven or TP on 2 active and 3 closed (historical) trades - i dont have this coding knowledge

    so funyoo, thank you very much, sorry for wasting your time, you are the best

    IX

  4. #24

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    Hi IX,
    Yes, you have it correct...the keys are to have the distance between new orders being placed large enough to avoid placing too many orders before the currency retraces (or the account will blow out)...And also doubling the previous lot size is not necessary...actually a 1.5 or so "Lot exponent" allows more room before margin call blow out. The good use of trailing stop and closing previous orders that will never become profitable (before they get to be too expensive) and resetting the EA once a day.... so you don't carry today's bias into tomorrows trading day....also help.

    I don't just trade those two sessions I trade 24hours...just reset everyday.
    How does this martingale differ from yours?
    Last edited by BillR; 03-07-2009 at 17:43.

  5. #25

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    One additional thought to avoid Account Blowout....stop trading BEFORE significant news events....and a little while after till things normalize....unless you have a BIG account....If that's the case let the EA stay working...and your profits will be astronomical because Martingale likes Up/Down or Down/Up....that is how it makes $$'s

  6. #26
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    Quote Originally Posted by BillR View Post
    Hi IX,
    Yes, you have it correct...the keys are to have the distance between new orders being placed large enough to avoid placing too many orders before the currency retraces (or the account will blow out)...And also doubling the previous lot size is not necessary...actually a 1.5 or so "Lot exponent" allows more room before margin call blow out. The good use of trailing stop and closing previous orders that will never become profitable (before they get to be too expensive) and resetting the EA once a day.... so you don't carry today's bias into tomorrows trading day....also help.

    I don't just trade those two sessions I trade 24hours...just reset everyday.
    How does this martingale differ from yours?
    Hi Bill,

    some points of my system:
    - trading minimum with 5000 bucks a week, if it wipes, next 10000 in next week, you cant loose 4 times in a row, doubling next week :-) martingale style...
    - trading at 5 TF's, 5-240M at the same time, hedging martingale, if 5M shows a buy, i buy, if the 240M shows a sell, I sell, with 5 timeframes you have minimum a ratio of 3:2, the best is if 5 timeframes showing 5 buys or 5 sells, then you have 5 winners, with a ratio 0f 3:2 you have always 1 winner
    - 5000 bucks account 4 pairs at the same time (majors) gives a profit of approx. 5000 bucks a week
    - 10000 account i trade 8 pairs (majors) for diversification
    - 15000 account i trade 12-15 pairs, more diver.
    - starting lot size is always 0.01
    - spezial indi combination for entries
    - no forex trading on futures roll schedule and big news events estimated
    - perfect closing strategy
    - no reset of martingale, because indis read the past 300 bars, to catch the perfect entries
    - big account
    - calmness calmness calmness

    theese are not all edges, there are many more, as i noted, i trade since 14 years, mostly futures and options - I love the perfect hedge buying 100000 units GBP/USD at forex and buy a PUT option, if G/U falls take the option, if it rises, take the forex and waste the option.

    you can read my statement in the thread, this week, 5000 account with 4 pairs, profit was ~ 5000 bucks, starting next week with 5000 and 4 pairs

    if you have less 2000 bucks, i suggest no trading martingale, or trading E/U and U/C - it hedges a little bit, one is mostly buy, one is mostly sell

    IX
    Last edited by ixbone; 03-08-2009 at 09:19.

  7. #27

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    Could you please post your ea?
    i am fan of martingale but i prefer scaling positions.
    Quote Originally Posted by ixbone View Post
    Hi Bill,

    some points of my system:
    - trading minimum with 5000 bucks a week, if it wipes, next 10000 in next week, you cant loose 4 times in a row, doubling next week :-) martingale style...
    - trading at 5 TF's, 5-240M at the same time, hedging martingale, if 5M shows a buy, i buy, if the 240M shows a sell, I sell, with 5 timeframes you have minimum a ratio of 3:2, the best is if 5 timeframes showing 5 buys or 5 sells, then you have 5 winners, with a ratio 0f 3:2 you have always 1 winner
    - 5000 bucks account 4 pairs at the same time (majors) gives a profit of approx. 5000 bucks a week
    - 10000 account i trade 8 pairs (majors) for diversification
    - 15000 account i trade 12-15 pairs, more diver.
    - starting lot size is always 0.01
    - spezial indi combination for entries
    - no forex trading on futures roll schedule and big news events estimated
    - perfect closing strategy
    - no reset of martingale, because indis read the past 300 bars, to catch the perfect entries
    - big account
    - calmness calmness calmness

    theese are not all edges, there are many more, as i noted, i trade since 14 years, mostly futures and options - I love the perfect hedge buying 100000 units GBP/USD at forex and buy a PUT option, if G/U falls take the option, if it rises, take the forex and waste the option.

    you can read my statement in the thread, this week, 5000 account with 4 pairs, profit was ~ 5000 bucks, starting next week with 5000 and 4 pairs

    if you have less 2000 bucks, i suggest no trading martingale, or trading E/U and U/C - it hedges a little bit, one is mostly buy, one is mostly sell

    IX

  8. #28
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    Quote Originally Posted by stace View Post
    Could you please post your ea?
    i am fan of martingale but i prefer scaling positions.
    hi stace,

    so sorry, but my ea is not public, every can make his/her own ea, but i'm willing to publish most of the rules to help other forexers to play in the winning zone

  9. #29

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    IX I like the insurance of the PUT...where do you accomplish this?? And where is the futures roll schedule....I should be treating this as news and not trading at that time... Using indi to enter at the right time is not a problem for me as I make money when the currency goes up OR down...I agree big account is necessary ...

  10. #30
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    Quote Originally Posted by BillR View Post
    IX I like the insurance of the PUT...where do you accomplish this?? And where is the futures roll schedule....I should be treating this as news and not trading at that time... Using indi to enter at the right time is not a problem for me as I make money when the currency goes up OR down...I agree big account is necessary ...
    nope, if you trade GBP/CHF without perfect entries with your system, you can get wiped fast, which means, your account have no room to trade other pairs too! no recovery option, so thats the reason why perfect entries and exits are so important.
    example: account 1000, you buy, G/C gaps down, no reverse on the same day, your profit (example) -750, no further room to trade, you reset your system every day, you have no informations too, if you have perfect entries, your trades have room and you'll have less false trades! as i described before.
    I use indis because all forex level 1-3 market makers use indis too (mostly fibo, pivo, price action) - we small traders are level 4, so its important so see what other see (level1 goverments, fed, ezb , level2 country national central banks, level3 country banks in generally, level4 your broker)

    options:
    for a fast global overview:
    Foreign exchange option - Wikipedia, the free encyclopedia

    I personal trade as eu citizen at:
    optionsxpress.eu (netherlands) stock options futures - Myself less stock options, mostly EU companies which i know
    euwax.de (germany) stock options futures - Myself mostly GBP sometimes other FX options depending on the current FX market

    further:
    Philadelphia Stock Exchange
    Chicago Mercantile Exchange

    Only american style options, which you can waste every day! with eu options you can't, must sitting out the contract time.

    note: options trading is really difficult, especially calculating deltas, forex is much easier. if you know what you do, you can get rich very fast, faster then forex - options trading risk is 10 times higher then forex, if you the market maker.

    IX

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