I've never seen a martingale system work long term. I bought an EA system that did just that back in the day because of impressive results and learned the pitfalls first hand. I have come across many different versions of the same over the years and just laugh because every singe one I've seen ends up blowing up. Whether it's an EA on FPA or a signal provider on Zulu they all turn out the same. The short term profits are enticing but compounding your losses to hopefully make a profit in the end are just like playing black jack in Vegas and doubling your wager every time you lose. Try it... you play long enough and you will always hit a streak that burns your bank roll. There are many other safer strategies that make just as respectable returns without the insane draw down.
In my opinion a martingale strategy should never be considered in a serious trader's portfolio.
In my opinion a martingale strategy should never be considered in a serious trader's portfolio.