The Martingale system is the most dangerous trading method in my opinion. A trader who uses it is no different from a casino gambler who doubles his bet size each time he loses. Sooner or later he will lose all his money.
The only way it might work is, if you start with a very small lot size (a micro lot) and have a very large trading capital. Even in this case, you have to wait until the price moves a lot (100+ pips) before you place your next trade.
My recommendation is not to use it. I've used it many times before and almost blew my account. It's not worth it.
The only way it might work is, if you start with a very small lot size (a micro lot) and have a very large trading capital. Even in this case, you have to wait until the price moves a lot (100+ pips) before you place your next trade.
My recommendation is not to use it. I've used it many times before and almost blew my account. It's not worth it.