How Lucky Can I Be?

Filed Under (EA System) by Casey on 23-06-2010

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Forex Martingale Showcase I – Lucky Candle

Since my demo page is up and running… I thought I will start with showcasing the first martingale EA that I am fooling around with.

Lucky Candle… How lucky can I get when I saw his statement…

(This is a screenshot for my record. Just in case the owner wants to delete it. Click on the image to take you to his myfxbook statements)

Would it be a surprise if I told you I have this EA?

But… I did not mess around with it because at that time scalping EA was still hot and Martingale EA… Well… it was not as hot for obvious reasons. But recently… the ‘market force’ seems to geared towards this hot mama only because everyone is fed up of scalping EA. It’s not because of the straight linear graph which everyone seems to say it’s too good to be true or the account is going to blow one of these days.

Scalping and Martingale is no different… same concept of small profits over time but large losses when it really hits it.

Anyway… Market seems to be moving that direction and of course Lovely Megan is so close to my heart. So what the hell… let’s talk Martin.

Now this EA comes from this guy who develop all this interesting martingale EA. Whatever the logic that he uses for his entry and grid level… I do not know. But I believe his portfolio in his myfxbook page seems to be glowing green with envy. (pun intended)

But one of my criteria is my 10 years backtesting result. I have to see the drawdown and see if it can last the test of time. Not everyday is a Sunday and martingale EA needs that type of backtesting to see how if it works. Forward testing does not mean much because everyone is waiting for that ONE DAY when the shit hits the fan. I will leave this discussion for another time.

Right now… here are the backtesting results. (No statement as I believe no one is going to examine the statement. Furthermore, I am too lazy to upload the statement)

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EURUSD 30M 2000 – 2010 (June)

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GBPUSD 30M 2000 – 2010 (June)

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USDCHF 30M 2000 – 2010 (June)

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EURGBP 30M 2000 – 2010 (June)

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Off all the recommended currency pair GBPUSD flop really bad. Another really important thing to note is the deep down equity curve. That’s really bad… very very bad and dangerous.

This type of EA is a killer bottom less pit to Doomsdale Avenue.

Out of fun… I kind put it on demo.

Oh… an another interesting thing… Just wanted to be sure that… I backtested again GBPUSD and EURUSD. This time from 2005 to 2010.

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EURUSD 30M 2000 – 2010 (June)

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GBPUSD 30M 2000 – 2010 (June)

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For EURUSD, it’s not because of the differences in entry. I have checked that the entry was the same as the 10 years backtest result. It’s the available margin that is unable to sustain the ‘oh so huge’ drawdown.

And GBPUSD… Well…

So do I want to trade this EA? I don’t think so. Just too huge a drawdown. While the developers myfxbook looks as if you want to straight away part your money to get it…

Think twice or even 10 times… If you want to get it and set up a demo just to have fun with it… Then… Why not?

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