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.

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Glorifying Martingale

Filed Under (Journal) by Casey on 18-06-2010

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Paul Pierre Levy the guy who came up with Martingale

Paul Pierre Levy the guy who came up with Martingale

Well.. the demo page is up and it looks fun.

Anyway… I have notice lately that there seems to be a direction which the commercial EA is going back into. Namely Martingale sort of EA. Then again it’s just probably it is just me who is keen to look for Martingale EA to add to my Megan account.

I can not but accept the fact that Martingale EA can produce a very nice linear graph with minimal drawdown. My approach as seen it last for as far as 6 months. Going through all the news and volatility of the market which is probably one of the reason why it affirms my believe that my approach to Martingale is probably correct.

I feel that there are many ways to play with this strategy.

Martingale EA is a double edge sword, one side being sharper than the other. The question is how to handle the sharper part of the sword. Some people say money management, some people say hedging, some people say diversify.

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God Bless Megan

Filed Under (EA System) by Casey on 22-04-2010

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Hallelujah!!! The Lord has answered my prayer!!

I asked the all Mighty if and whether my Lovely Megan can be improved and my prayers came with a Blessing.

Check this out…
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(Click on graph for detail statement)
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Lovely Megan

Filed Under (EA System) by Casey on 12-01-2010

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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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Martingale Mania VIII ~ Cyborg

Filed Under (EA System, Journal) by Casey on 07-09-2009

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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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Martingale Mania VI ~ Capital Outlay

Filed Under (EA System, Journal) by Casey on 26-08-2009

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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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Martingale Mania V ~ Currency Pair

Filed Under (EA System, Journal) by Casey on 25-08-2009

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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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Martingale Mania IV ~ The EAs

Filed Under (EA System, Journal) by Casey on 19-08-2009

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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 »

Martingale Mania III ~ Hedging

Filed Under (Passing Thoughts) by Casey on 18-08-2009

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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…

Martingale Mania II ~ Scalping?

Filed Under (Passing Thoughts) by Casey on 18-08-2009

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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….