Martingale Grid- Free Expert Advisor

The Martingale grid places limit orders above and below the current market price whenever there are no open trades.  When you feel the markets are range-bound but the direction remains uncertain, you can stack orders of increasing size to recoup any losses that you may encounter.

When the market hits one of the orders’ take profit, the EA closes out all open trades.  It then restacks limit orders, just as it did in the original sequence.
Traders should exercise extreme caution when using this EA.  The trades do not place stops on their orders.  You should expect to manage large losses if the limit orders enter and the market moves too far away from you.

What is a Martingale?

Martingale, a term taken from gambling, relates to increasing risk after consecutive losses.  When a trader doubles his risk on the next trade, he can potentially recover not only the loss on the past trade, but also achieve the amount of profit that he original desired.

You must consider the risk of a long string of loses compared to the amount of money in your account.  Martingale position sizing grows very large, very quickly.  As such, the risk of outsized losses increases along with it.

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