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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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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Following the concept of I pondered upon in my Martingale Mania I, I set out to look for the best currency pair. Since Best Forex Sniper uses a cascading/grid order limit of about 30 pips between each grid level. I had to find a currency pair that is not so volatile… IE does not move 330 pips in one shot without retracting back 30 pips to take profit….

So I went about to look for these currency pairs which were not volatile and put it to the tests… How else do we test? Well… by backtesting it of course. I must say backtesting Martingale EA is pretty long and tedious. It practically took 12 hours just to back test one currency pair between Jan 2009 till Aug 2009!!

Man… I had to learn the long way… Not only did I busted 12 hours of my time testing one currency pair… I wasted another 6 hours because I put the wrong settings… Sighhh….. Oh by the way… these backtesting were done on on Best Sniper Forex EA… So the criteria set out by me and the 330 pips movement were base on the parameters from this EA…

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There are basically 3 martingale strategy that are somewhat similar but different in application. As it has it, people have been saying that BestForexSniper.com is clone of Blessing EA which is a free EA.

As I dive deeper into these EA, I discover another EA which was apparently build on Blessing EA too named Masyuk EA.

Blessing EA ~ Forex TSD Forum

Best Forex Sniper ~ BestForexSniper.com

Masyuk EA ~ FXOpen Forum

Upon closer inspection… the base of Sniper and Masyuk are the same but the coding seems to be different. Read the rest of this entry »

I believe I have left out something very important when it comes to using Martingale strategy… One needs to have a broker that allows hedging.

The idea of some martingale EA, is that if the trend goes the other way…. it should not stop the EA from making profits the other way. Increasing your account balance and subsequently reducing your drawdown.

I believe if I am not mistaken, at times, when the Martingale is stacked against you say if you have taken (buying) the first three level (1, 2, 4) and the trend seems to be moving the other way, some EA like Sniper would take (sell) the 4th level (8). And if the trend continues you will reach your take profit and exit that round with a net profit…

The more I start to think about Martingale Strategy the more I keep thinking that it is just like scalping strategy.

Huge stop losses and small profit take.

The only differences is that for martingale system take a longer time to kill you by keeping a float in hopes that one should start making enough profit to cover the float

While scalping is very instant and takes you out if you are wrong…. Ha! I guess that is why they call it scalping huh….

Well… since I have time on my hand because I have kinda stop trading… I thought I would put down my thoughts about Martingale. While I do mentioned a lot base on my experience with Best Forex Sniper, I believe this should apply to any Martingale system.

Since toying around with Martingale system, I always thought that Martingale was the name of the person who well… founded the Martingale system. But after doing some research… it seems that no one knows how did the name Martingale came about.

Even in Wikipedia, there are two articles on Martingale which were relevant… Martingale (probability theory) and Martingale (betting strategy) never actually mentioned a person call Martingale who founded this Martingale theory.

I guess Martingale is left to our own imagination of who or what this word represent… For me… it’s Megan…

Anyway… for forex. The first time I encounter a Martingale system is with Forex Funnel. I never actually toyed around with it because I knew the danger of it. I was very afraid of how it will kill off once account balance.

It was until I got my hands on Cyborg did I started to venture into Martingale system for forex. Seeing how silly scalping can be at times… I thought maybe Martingale could work in forex… I wrote a piece a long time ago ‘Martingale Strategy‘ and still think that it would work because of price retracing back/ Fibonacci Retraction principles.
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What was suppose to be like Muhammad Ali to ‘Float like a Butterfly, Sting like a Bee’ ended up to be ‘Fly like a boomerang and sink like a ship’

What was suppose to be my conquest to rule the world with Ms Martingale ended up to be a $hit in the toilet…

What was suppose to be the ‘best forex ea’ is nothing more than the ‘best folie ever’

I guess I don’t have to explain no??

The secret EA that I was talking about is nothing more than a sham…Yes, I sham you all on this blog… there was no secret EA… Just a dumb a$$ toying around with Ms Martingale and got a good pu$$y whipping….

I thought I could handle her… I thought I could manage the situation. I have already thought of all situations and thought of how I would work on it to ensure that I don’t fu(k up with this strategy…

But alas… Martingale was just too much for me to handle.

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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 »