Is it ok to go martingale?

I read in Forum & Public chatting, some peoples like to go for martingale system. As we all know, every system is not perfect. Each of it has their own advantages and disadvantages.

Martingale mean you increase your trading lot every time your stop loss hit. e.g....you choose to use martingale system which add 2x of your initial lot of trading every time it hit Stop Loss to recover back what you had loss before.
i.e - 0.1, 0.2, 0.4, 0.8,1.6,3.2.....

You also can use martingale number like this : 0.1,0.2,0.3,0.6,1.2,2.4......the numbers goes up with TP bigger than SL

While the method sounds good (recover back what you'd lost before) it has it's own disadvantages:
1. You need enough capital, and start from small lot until you're comfortable with your account(become bigger)
2. You need a good system that you'd tried and cannot go more than 4x loss in a row.

I got this idea from night sleep! so i think i better write it here for sharing purposes. I think you can work it out even with account of USD100 and start grows it if you know how to play with. I want to give it a back test and try it.... every day trading maybe???

Allah (God Almighty), give us a brain to think and syukur on His gift.
Happy trading to all

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I'll be away to Kuantan - attend training (Project Management) from 2-5th November 2009
Then, offshore Terengganu for some work there from 7th till finish,expected 17-18th November

till then, c ya. Good luck and happy trading.
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Total For October

This is my standing as of today. I'll try to ride this trade until it got stopped

GU : +48 pips + in trade
GY : +420 pips + in in trade
Gold : 300 + 500 + in play(+1500 pips)
total October so far : +1268 pips


Rezeki anak.....

update 28/10/09
GU - still in play
GY - still in play
Gold - close half @ 2360 pips - lets other half run @ BE+1500 pips

update 29/10/09
GU - SL 165 pips
GY - Hit TSL + 60 pips
Gold - Hit TSL + 2680 pips overall.

Total for October
GU : +48 pips - 165
GY : +420 pips + 60
Gold : 300 + 500 + 2680
total October so far : +3843 pips

close for this month......

Update from yesterday signal

OK gentleman,
here we are....
tadaaaa.......
Gold - in +ve side - move SL to BE+1500 pips
GU - still in play, not moving to +ve yet
Gy - still in play, not moving to +ve yet

in overall, i will end this month with another thousand pips hehe
ok ok...maybe many of you have asked me, what is the value per pips. For gold, since the spread is big (100 pips spread), i use smaller lot up to maks o.1 lot . For GU and GY, i use bigger lot. That's why i use pips as standard calculation here. Don't mislead/misunderstood with the information here ok.

Signal 23-october

Sorry guys,
I didnt update the thread this morning,
just came back from Kedah....visiting my family in law + my kids there (my wife berpantang there)

OK...straight to the point;
GU - Sell
GY - Sell
Gold - Sell - i got stopped +500 pips last week and now re-enter Short. in +ve side...

We will see what happen to our trades later....May the rezk with us. Insya Allah.


will show u the chart later ok....cya...

Boring week??

i'm waiting for the good set-up this week. 1 trade only. In Gold..another Sell off from high - reason- Divergence!

i think same goes to GU n GY later. We need a good indication before entry.. so we will wait. Being a full time Daily chart trader require a lot of patient and courage.ohhh dont forget your head level..maintain 2-3% of capital risk per trade (MM)


trade update 21/10/09
Gold - sell- currently stood at 960 pips - lock +300pips

Signal 22 - October

Signal:
BUY GBP/USD
BUY GBP/JPY
GOLD - didnt hit Sell stop trap....it breach the ceiling and now riding high. I didn't trade it.

happy trading to all.


update 14/10 2359 hr:
GU - +48(hit trailing SL)
GY - in the middle...waiting.....

update 15/10 2000hr
GY - riding now +350 pips, move BE+150pips
Gold - Sell stop hit..now +800 pips...will try to ride it down...


update 16/10/09
GU : +48 pips
GY : +420 pips
Gold : hit trailing SL + 300 pips
total October so far : +768 pips

Signal for October

I'll be very slow in trading for this month
it is because:
1. New baby born
2. 1st Son need extra care....manja la plak
3. The signal not very much 'in line' at the moment (Candle + 1 indi) - i assume they are in ranging mode.

However, if you look at gold chart today... you'll find the HARAMI-bearish... it mean..something big-bang will happen soon. I GUESS.... it will goes down. SL will be at last high or high of HARAMI.

happy trading to all.

Happy news for me

Salam & Good Days,
10/10/2009 was my happiest day for this month. My wife delivered a baby girl at PCMC @ 2111hr. Alhamdulillah, both mother and daughter is well and in good condition.

I'm sharing this good news to all readers. May you find happiness in your life. Cheers.