You've made a very good point with this post. Marketsurfer is "well known" (or at least, well, he is known) for his trades, which employ this strategy, and ammo over at the ES Journal employs the strategy as well. Also, the thread started by stevesbg (formerly steve911) deals with a strategy using the technique of averaging in against losses, and there have also been some pretty good threads which dealt with averaging-in as well (they weren't very well received though). *** Most people think it's a losing strategy (I think it is at least bad discipline, if not an out-and-out FAIL), but I don't think that thread warrants chit-chat if it was moved for that reason, particularly in light of the examples that I've given (by alias). P.S. I just reviewed the thread, and didn't see anything amiss there. Not for nothing, there were two moderators over at Marketsurfers thread this week, defending his right to continue Shorting the uptrend and have his stops blown over and over again - (so the silly comments does seem to be a little out of place) ...
And for the record, a professional trader (most of whom have fled this site) have posted examples of their colleagues who have blown most of (if not all) of their wealth using this strategy (but he also mentioned that the guy made the money using the technique). And of course we all know about VN and his (truly infamous) blowouts. If you're moving threads because they employ impossible strategies that will never be proven in the light of day, you might as well move all of jack hershey's threads and posts to chit-chat, as well as ProfLogics. That's it for this topic. Bye
Instead of just doubling every time you need to split the recovery wins into two or more. after a certain number of loses, and you need to bet $100 to make your orginal win. bet 1/3 ; $33 and double down untill you win then do it twice more untill you recoup the orginal $100. if one of the $33 dollars bets gets a string of losers then split that again. This will string your bankroll longer and help you avoid table limits.
Absolutely true of course but... and (I agree the thread should have been moved, not that it matters what I think)
A journal is one's own private place to post trades based on whatever strategy he/she desires. If someone wishes to post a journal on the Martingale strategy, I doubt it would be moved so long as it wasn't a flame fest. The Trading section is for viable, reputable posts on trading. Not to simply use it as a dumping ground for every thought regarding the stock market. I'm sorry if you all don't agree, but then again, it's not necessary that you do. Regards.
+1. We don't need perpetual motion machines disguised as trading methods. We all know it doesn't work. And trading indicators are not going to make newbies that coveted 700% "retire in a year on $1,000" Keep up the good work. Maybe we need a "Doesn't Work, But Keep Trying" forum...