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[NetWoofer]

Martingale?

I notice from the statement that some trades have increasing lot sizes and that some of these increases are substantial. Is this a martingale trader or is it using a recovery technique? In either case there is potential danger.

 

[Check]

Clapan EA is martingale system!!! It you should write to your website and forexpeacearmy. Too high a price $ 399 for martingale system. Many such EA can be found on the Internet and free.

06.20.2011 16:10 06.20.2011 21:49 CHFJPY Sell 1.70 - 94.80000 94.97000 94.86000 11.0 232.99 5h 39m 1.17%
06.20.2011 16:55 06.20.2011 21:49 CHFJPY Sell 2.60 - 94.80000 95.16000 94.86000 30.0 971.84 4h 54m 4.86%
06.20.2011 17:50 06.20.2011 21:49 CHFJPY Sell 3.80 - 94.80000 95.35000 94.85000 50.0 2367.30 3h 59m 11.84%
06.20.2011 10:35 06.20.2011 21:49 CHFJPY Sell 0.80 - 94.80000 94.76000 94.85000 -9.0 -89.71 11h 14m -0.45%
06.20.2011 12:30 06.20.2011 21:49 CHFJPY Sell 1.10 - 94.80000 94.87000 94.85000 2.0 27.41 9h 19m 0.14%
06.20.2011 08:55 06.20.2011 21:49 CHFJPY Sell 0.30 - 94.80000 94.39000 94.85000 -46.0 -171.95 12h 53m -0.86%
06.20.2011 10:25 06.20.2011 21:49 CHFJPY Sell 0.50 - 94.80000 94.53000 94.85000 -32.0 -199.35 11h 24m -1.00%
06.20.2011 08:00 06.20.2011 21:49 CHFJPY Sell 0.20 - 94.80000 94.23000 94.85000 -62.0 -154.49 13h 49m -0.77%
06.20.2011 08:20 06.20.2011 21:49 CHFJPY Sell 0.20 - 94.80000 94.29000 94.85000 -56.0 -139.54 13h 29m -0.70%
06.20.2011 07:40 06.20.2011 21:49 CHFJPY Sell 0.10 - 94.80000 94.16000 94.85000 -69.0 -85.97 14h 8m -0.43%

http://www.myfxbook.com/en/community/trading-systems/mt4-1165945/133206,1

 

[George Holt]

It sure is doing good!

You can't dispute the fact that it is doing extremely well!

 

[Kiran Thomas C]

Does not look like a martingale system

It does not look like a martingale system ,from the trade history ,you can see ,the bigger lot trades were resulted in big profits ,and the losses are very minimal ,I checked with Viktor ,he told me , it is better to start with a $2000 account ,else there is a big chance for your account to wipe out, as there are some draw downs to happen in the account, So my opinion it is performing well .

 

[George Holt]

It does not look like a martingale system ,from the trade history ,you can see ,the bigger lot trades were resulted in big profits ,and the losses are very minimal ,I checked with Viktor ,he told me , it is better to start with a $2000 account ,else there is a big chance for your account to wipe out, as there are some draw downs to happen in the account, So my opinion it is performing well .

Who's Viktor?

 

[George Holt]

Possible Problem?

I noticed that there are a lot of losing trades still open from the 23rd that didn't get closed before the weekend. I'm thinking this EA doesn't know to get out of all trades before the market closes.

This could be a big problem! :unhappy:

Any thoughts?

 

[aicohn]

my 2 cents

1) Martingale system?: Guilty as charged. Looks like a mellow one however where the trades increment by a factor of 0.5, not doubling.

2) Risky?: Maybe yes, maybe no. That this thing is a martingale certainly means it *COULD* blow an account. However, this risk is mitigated by these facts: 1) it is diversified over many, many currency pairs. It's not unusual to have trades in 3 or 4 currencies running simultaneously. This could lend some reduction in the open drawdown as well as smoothing out the equity curve, 2) trade placement: this thing really does seem to place initial trades at price extrema; when this thing has opened trades, I've pulled up 4 hr charts & plotted bollinger bands and stochs. It does seem to be initiating groups of trades when price is through the bollingers and stochs are truly extreme on a 4 hr chart. It really does "buy low & sell high" which is what you really should be doing. This leads to some angst early in a trade as you'll be initiating trades when momentum is running against you. But, having seen this in action a few times, I'm pretty comfortable with it. 3) ability to control point at which ultimate stop-out occurs as a % of account drawn down, combined with extremely high returns when successful.

3) What I'm doing: It does pay to be somewhat cognizant of what this thing is, and the fact a draw-down to your emergency stop can occur at any time. That said, you can control the point when that occurs with the money management and emergency stop-out parameters. I'm legging into this starting out with half the recommended risk levels (MM: 0.5%, Emergency Stop: 15%). Assuming I don't hit the 15% in the next couple weeks, I'll close all open positions, pull 15% out of the account at that point & re-start with recommended parameters. Then I'll stop it again when the next 15% has been reached, pull the second 15% out & restart again. I'll hold the gains in a separate checking account. Hopefully, it won't hit that emergency SL too soon! We'll see. So far, I've been very happy with results running this thing only at "half strength" and can hardly wait to go "throttle up". Hope this makes sense.

A.

 

[George Holt]

Dude...

Dude, your my hero.
I don't know what you just said, but if you can figure out a way to make this EA work, your my hero!

 

[aicohn]

Not rocket science

Just understand in your soul that this thing will blow some day. That is its nature.

Make sure you are putting away capital in advance for that day, and make sure it's a "controlled blow" in the meantime, so you don't take down your account completely. Hopefully it doesn't blow right away. If that happens, the system is absolutely unusable. Maybe the system authors have some insight into whether that's likely within the first month. Maybe not. If you can't find out, you roll the bones & take your chances. Or you stay out. No guts, no glory.

JMHO.