Some say Martingale strategy is 100% profitable. But is this true? The martingale theory was introduced by a French mathematicians Paul Pierre Levy and American mathematician Joseph Leo Doob. The martingale system can be summarized as follows. Each time a bid loses, the next rate doubles. We doubled the rate until not win. Winnings will offset all previous losses. But you need BIG equity to make this system work. Those systems have a really nice profit curve that makes you giggle But how long will a system like this perform well? That’s really easy to answer, martingale systems perform well until they kill your entire trading account. Nice eh?
Awesome right? But don’t forget, you’re risking 100% of your account balance. So think about it, there are a lot of martingale forex robots out there, some even for free.
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Everyone is speculating about the US default, but they will get some sort of deal done. As it was obvious all week, it’s going to involve significant comprises on both sides. But really, which is in worst shape, U.S. or Europe ? Both have some hard times but the Swiss Francs (CHF) is really gaining compared to both currencies EUR and USD.
This deal in the U.S. has to get passed before Asian markets open for trade on Monday morning, or the fear based USD selling could rapidly get out of control.
As expected, losses on the day are relatively indiscriminate, with market participants lightening their exposure to equities in the event of a pending US default. The healthcare and materials sectors are seeing the biggest percentage declines, with more modest selling being evident across consumer, financial and energy names. And here is a nice visualization of the US debt problem!
The most common traded pair EUR/USD closed lower on Thursday following Wednesday’s reversal down so it appears to have marked a double top with the early-July high. The mid-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral hinting that additional weakness is possible near-term. Closes below the 20-day moving average crossing would confirm that a double top with the early-July high has been posted. If September renews the rally off July’s low, July’s high crossing is the next upside target.
GBP/USD closed higher due to short covering on Thursday as it consolidates some of Wednesday’s decline. The high-range close sets the stage for a steady to higher opening on Friday. However, stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. If it extends this month’s rally, the reaction high crossing is the next upside target.
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