I have started using this strategy three weeks ago on live after testing for so much time and did more than 100 back tests with different setups. I have plagiarized some of the ideas and adapted to this EA as it is very unique regarding the risk value. Other Martingale EAs usually wait longer to recover of the losing trades but not this EA or at least on 10 risk value. The ultimate idea of my settings is to be in the market as little as possible. I have tested 10, 15 and 30 and at M30 TF this pip step is perfect for GBPUSD. Even if it moves 200 pips in the wrong direction, thanks to the risk value, only a little reversal in my favor is enough to get out. Considering the martingale exponent is 2.0 for this EA hence you dont want to open too many trades. 19pips profit, I kinda got after so many tests. This EA, when it hits TP, it will open another instantly in the same direction. if you have 10 or 15 pips, you might end up having too many orders in the end. 19pip is great for me. I hit one TP and at that point the market has moved enough to make a reversal for my other open trade - to hedge it. It works 7 out of 10 times. I want to hit one TP and not many which might sound like, why not? I'm not greedy. Got burned by Gold in the past badly. I'm ok if I dont hit 19TP but hit the other TP in the other direction, it just means, it will hedge that one instead. Its great that it open buy and sell at the same time at 2am and whatever happens, I always hit on of the TPs.
Monday and last night were textbook perfect nights. Monday the EA opened 8 trades due to volatility, but it was out of the market by 9am BST. Last night only two trades and again I was out by 9am BST. I have this EA running on same settings on demo on 24h too but there I use 0.01 per 1k and makes about 5% per week which I know it can do more. But just by trading Sydney and Tokyo sessions and even then, only three hours allowing the EA to trade is fine as I dont want to have too many orders entering the London session, which 90% of the time is bullish for an hour. Bear in mind, I use the numbers 20000 or 30000 (low DD) to calculate my lot sizes. And that is still very high but not so high when you only trade three hours a day and not open more than 6-8 trades in total and only 1 or 2 trades going through the day. The EA will still manage those trades and close them with the risk setting and when closed, wait until next day. Even then I only see maximum 3 orders so far which is fine with 2.0 multiplier. The max DD I had so far was no more than 2k on a 7k account, which is now 9k and trading 0.45 lots tonight. I already made 11% Since Sunday night thanks to some volatility Monday morning but I'm out of danger all day which feels great. Hard to get used to at first to do nothing during London and NY sessions but this is the safest for me I feel. Lost 5k to Gold last months and happy that I recovered it now with this method.
