These guys are so professional, they know what they are doing!! I believe that if you follow the money management rules, you can leave this EA on your account and if you withdraw regularly you have a good consistent money making machine!
I will report back within a month or 2 about my account's progression. I am seriously handicapped, I can't walk or talk. I started with EA's in , had a brain stem stroke in I found Forex-Goldmine in , right before the stroke. I was trading with Robominer at the time. After the stroke, my love for trading led me right back to Forex-Goldmine, and their new EA, Pipstrider.
I kept trying all released versions, and am using V1. Pipstrider made a Martingale robot that's a safe robot to trade with, using all default settings. Winning trades are paramount to me in my life. Pipstrider gives me a future to look forward to.
Hi there. I would like to share my personal experience with the Forex Goldmine EA's. I am a trader for almost 4 years and has experienced trading in many financial instruments starting with stocks, CFD's and indices. In the last year and a half I ventured into forex trading and did pretty well. I came across the Forex Goldmine robots quite by chance through some forums I have been participating in and at first I automatically rejected the idea of testing them not even thinking of buying or using them because seriously I was just too tired of losing my money.
I am a solid guy and always looking for the "safer" way to make money. I slowly changed my mind and again opened a few demo account to see how it goes. I also started back testing the robots and also tried to changed a few parameters here and there. I re checked it, changed currencies, changes parameters, changed basically every thing that I could think of and most times got really good results. I had to put my "algo fears" aside and started some demo accounts with different robots.
I mainly concentrated on the Forex Cantata and the Pipstrider robots even that I have tested most of the available robots. I decided to take the Forex Cantata as my first robot and later work my way to the Pipstrider robot. I am posting here a link to my real account report so that everyone could see the results just remember to look at the results starting from It is simply amazing.
I need to emphasize that I am not any affiliate or vendor of any kind and not connected in partnership with the Goldmine company in any way. I seriously recommend it. It really works when you work it. Harel Noy. I have to say that I have been demo-ing Forex Goldmine's newest edition of Pipstrider 1.
I have optimized the main pair auscad while finding that the ausnzd pair is not particularly a good one to use right now. Instead, I have been using the aususd pair quite nicely which I have also optimized. By the way, what is good money? And, yes, I understand that comparing demo accounts to live ones can be a tricky proposition. Additionally, I have found Forex Goldmine's customer service to be both quick and courteous The PipStrider makes the RoboMiner look like your old best friend while it is like new boots!!
The RoboMiner EA can make you rich! I've used Pipstrider on multiple demo and real accounts both mini and micro and on multiple pairs. There are three elements that seperate this EA from others: consistent high performance, excellenet support and a development team that listens. It doesn't get any better than this! I have to say thanks, to the developers of these Great Products. Great Job! Best Regard Rodrigo Standen. My account is growing at a steady and amazing rate.
Works as well on my live account as it did does on my demo account. You will be winner if you use this strategy for long term as you life investment and use risk management. It will be so great. For example if you have 10, with a lot of calculation. Some body will say 10 years so long. Really I think seriously to go back using this way. By using big Time money ,and Risk Management at this time I will recover my lose. Firstly, it can easily be demonstrated mathematically that staking systems do not alter expectancy.
None of them cite the use of progressive staking as a means of recovering loss, as part of their trading strategy. Hay Nathan Many traders do similar and as an example can be done on brokers like Oanda for even less risk like starting at 0. It does work, because mathematics does not lie..
The problem for many is emotions to many cause bad decisions when in draw down.. Probably because they are risking too much to begin with.. Less risk style, pips spacing like you say- 0. Also great to do on positive swap pairs.. Sell at weekly highs, buy at weekly lows..
That is more than pips.. It will not go further than that without one pips retrace, it never has done a move further than that in all pairs in history ever without one retrace of some type and that is including the volatile pairs like GBPNZD.. Regards, Timon. Great reading Nathan. There is certainly method in the Martingale 'madness'. I for one believe in mathematical trading instead of predicting currency movements. Could you also throw light on the system of doubling in the opposite direction after the pip stop loss.
Which method do you think is more logical in the realm of forex movements. Hi , i have 2 robots with martingale, and work nice. That depends on how you structure your Martingale. The most profitable way to Martingale is actually to keep two positions open at once.. In other words, when the first position goes down you keep it open and add the next position, and when it goes down; you cut the first position and add your 3rd..
This way, you get the second to last position at break-even instead of a pip loss. Excellent idea to control the risk but don't you think that this will greatly affect the winning ratio? I mean once we got the direction wrong, we will only manage to break even instead of coming out at the end with a WIN.
Hi , im programing the martingale, works nice with trailing stop. Thanks for the article Nathan. I have been trying forex trading for about 2 years now. The only time I made consistent money was martingaling. My strategy was somewhat different. I did know the risks of blowing the account and knew I had to maintain strict disclipline.
One day the perfect storm occurred chartwise and I was in a bad mood that day and took on too much risk and boom. I have not tried it since but beleive it could have cntinued to work had I tweeked it some and maintained discipline. Your strategy is a much safer and conservative strategy. The mathmatical odds are on your side.
Believe me, if the casinos banned martingaling or made adjustsments to negate it, then you know good and well there is something to it. Thanks for the comment, James. I am sorry to hear what happened with you But yes, if you keep it safe, it can definitely produce profit over the long term.
I beg to differ. For that to happen, you would have to lose all 18 holes in a row. Nathan is not just young; he's a kid. He won' t stay with this Martingale stuff, and he doesn' t even need it. Sounds to me like he already knows quite a bit about trading. Doubling-up will work in a hypothetical example like the one he showed us , but not in the REAL world. Back in the days when I went to the race track, I fooled around with progressive betting increasing bets after losers.
If this race loses, on the next race, increase by one more unit. Go up one unit after a loss and down one unit after a win. Larry Williams mentions this kind of tactic in one of his books. He' s trading contracts in the futures market. After three straight losers or maybe three losing days , increase trades from one contract to two.
He' s not talking about doubling-up; he' s talking about increasing trades by ONE unit. Please don' t bother telling me that my ' up one after a loss -- down one after a win ' example is NOT mathematically balanced; I already know that.
Check it out for yourself. The reason it' ll make money is because more money is placed on the winners than is placed on the losers. By the way, Casey, when I grow up, I want to be like you. I want six monitors in front of me. Wayne Roberts. Hello Wayne, thanks for the comment. I certainly understand where you are coming from.. And I believe that your unit method could work; however, Martingaling is one of the oldest strategies in trading history, so there is a reason it has withstood the test of time.
I believe that I will stick to the Martingale system because it has proven to be successful for a long time. Perhaps I will adjust it over time, but I do believe--mathematically speaking--that it has complete capability to retain profits in all market conditions.
Thanks again for the comment! Good reading Nathan! Two questions Hey Gary, thanks for reading! My target is pips, and because of the large target, it is good to make daily entries make sure you're buying low and selling high! Essentially, no trades were ever closed until they were in profit, which means you would have to endure tremendous drawdowns. If you are able to do that it's simply a matter of waiting until the market moves in the direction you want; it always does.
My response to the developers was that in that situation I wouldn't need an EA. Also, I'm sure you would agree that retail traders do not have an even playing field when trades are opened. The past is no indicator for independent events of what will happen in the future in probability or forex.
Hello Dabbon. You are a smart trader and your mathematical notation gives you credit. You are VERY right. My only objection is that in trading, there is some interference. That pip "bounce" as it is referred to in the article could happen at a place where you can't exit out at a profit though. For example, let's say you sell at 1.
No way to exit your trade for pips profit in that case, right? Very right! That is a great point.. When I said "without a bounce" I should clarify that the pip bounce is from the latest entry which may actually be a or pip bounce from the reversal. I understand this, and still believe the strategy functions well if you stick to the rules. Thanks so much for the comment!
I have to agree that the strategy is "can't fail" mathematically. But from a practical trading viewpoint, my own thoughts are that a potential risk of hundreds to gain only 25 dollars a time sounds nerve-racking. Hey John, thanks very much for the comment. And yes, you are right! I definitely do not recommend this type of trading to most people.
Thanks for the comment As soon as you get a win; which will cover all of your losses, you begin at the small beginning amount again. Thanks, Bernard. My thoughts exactly! I appreciate you reading along and leaving your thoughts! Thanks for the comment. I did not say that it was simply impossible to lose 20 in a row.
I said in the circumstance that you are using pips before adding and not buying too high or selling too low. The simple fact is that it would have to go 5 thousand pips in one direction with no bounce of pips after the market had already gone in that direction for a while otherwise you would not make the entry there. That has never happened in the history of Forex on the major currencies which is why I say it would be virtually impossible I understand the adding to a winning position as well.
If you have a good concept of the trend and are able to add appropriately, I think that can be a very profitable strategy; but of course, there is always more than one way to win. Is this part of the system? You are also right that the bet in the table is sometimes a bit more than double. That is part of the system in betting on a coin flip or blackjack because it allows you to get a little bit larger of a reward for your risk. In trading, when you double the previous position each time, the net gain will always be the same as your initial target.
Good article Nathan, different refreshing viewpoint. Dangerous maybe, but all strategies carry risk, and you did stress the importance of valid entries. Would like to see more of different strategies.
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