If ever I were to use my analogy on the art of kungfu accurately then I would say this would be the best example that clearly showed what my gambler friend was saying…

Learn, observe and kick the bag… if it failed then I should relearn, observe and kick the bag again with a different style…

I have taken Cyborg EA tested it live, got slapped in the face, took BestSniperForex EA tested it live, got kicked in the nuts, relearned everything about martingale, mutate it a bit and applied it differently from a different perspective and this is what I got… A mutated Cyborg version which I have renamed it Lovely Megan.

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I guess the NFA has really gotten to IBFX’s skin…

Last week I got a mail from IBFX saying that they are compiling with NFA’s rulling and will be only offering a maximum leverage of 1:100 come 29 November 2009. My first reaction was ‘$hit!!! Gawd Dang!!’ I was just about to request a change in leverage on my IBFX account and IBFX had to do this $hit to me…

The hedging thing was a minor issue for me. As long as I only trade one side per currency I would be fine…. I wasn’t hedging with my Cyborg on IBFX so it was fine.

However… I am using martingale on this account. And leverage is a key to the success of my many days of backtesting… I wasn’t going to sit on this and not say a word!

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Initially I was thinking about posting my August month end performances. But seeing how I screwed up big time with Best Forex Sniper in the first two weeks… I decided to defer this to probably the end of this month.

While Best Forex Sniper slaughtered me… due to my ignorance to using the Martingale strategy… I manage to come off with lessons from these losses. And that losses was translated into my Martingale Mania series.

It’s funny that my most feared strategy became my most intriguing strategy to me. I initially encounter with Martingale on my live account was Cyborg. I knew it was a gamble and I knew it was too good to be true from Cyborg’s page… so with a small account of over $400 bucks… I gamble it on Cyborg…

And I must say by far… this is my best performing EA… mind you I am still using the initial version of Cyborg and the initial settings. Why toyed with it when it is not broken? Ok… I did toy with Cyborg once… A Quick Wank is a NO-NO!

Exciting as it was. That toy was a gamble… after that episode… I just left Cyborg as it is.

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While I continued my back testing on a few more currency pair, I was planning my next course of action to this Martingale strategy. Since I believe I got the currency pair covered… ok… more or less got the currency pair covered, I also needed to address the main issue to continue with this strategy forward.

Capital outlay with the big C

Looking back at the nature of the risk I am willing to take with this strategy… for each currency pair, I need to have at least $10k… risking around 3,500 every time… would equal to 35% of my capital. This would of course be reduced every time I successfully accumulate my profits and grow my capital and continuous maintained my lot size to be at 0.01.

Thus… this is where I am stuck!

I do not have $10k with me at the moment. So what am I going to do? $hit!

However having said that… there is always a way around it. If I were to change $10k into 10k cent… it would make sense to trade 10k sense… going on a 0.01.

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Meet Ms Martingale...

Firstly thank you all very much for writing or rather emailing to me personally to try and dig out information about this secret EA that I am currently testing.

But I am not going to tell…. In fact, I am going to give you guys a teaser.

How good is this EA? It is gawd dang good. However, it is not without work. I had to practically monitor it every hour… just to be sure that my drawdown level was healthy…

It was so gawd dang good that I was also caught with my pants down… Martingale is again a dangerous strategy and all efforts are or have to be put in place to ensure that I do not mess up…

Martingale is like a hot red sexy woman… They seduce you with wonderful offerings from heaven.

Once you taste the wonderful fruit from heaven, be sure to take good care of them… if not… You either get slapped, back stabbed, whatever it would take to kick you in the nuts… Never mess with a scornful red hot sexy gal…

Ok.. ok.. sorry I digress… (Looking at Megan Fox just……. ) Where was I again? Oh yeah… the teaser… Read the rest of this entry »