DislikedBy the way martingale is when you double down (believe me I know what it is use it very effectively in blackjack, it's effective because you will often hit blackjack on a high martingale loss streak and that gives you an edge. Also you have to let win streaks run every now and then, which means double down on winners too, but I only go to about 3 before I feel the need to take the profit and restart the bet size lower).Ignored
In any game — including forex — progressive betting (e.g. martingale) will provide guaranteed recovery and a steady income, until your luck runs out and you lose everything. The same Joe Nemeth video has been posted on YouTube multiple times, and I watched an earlier edition a couple of months ago (it's very similar to the idea that was presented here). Everything that Proximus has said is exactly right. Mathematically, no MM system can improve expectancy (see PipMeUp’s proof here), hence all progressive staking does is increase average position size, which in turn increases risk of ruin. This is not merely my opinion, it is all backed by the math that underpins probability theory.
Forex arguably offers a better opportunity than casino games, firstly because it is completely scalable (no table limits), and secondly due to market truisms like “price must eventually break out of consolidation” or “price must eventually return to a mean”. By exploiting statistically proven truisms, martingales can potentially survive longer. But no matter how small you size your initial position, you’ll eventually hit a price pattern that causes a large enough losing sequence to cause ruin. The secret is to quit before this happens, but the problem is that it could happen unexpectedly, at any time.
Of course there’s nothing wrong with using forex as a vehicle to gamble, if you want to. If you’re very lucky, you might survive long enough to make a life-changing amount.
Anyway, I’m not here to make enemies, so I’ll make this my only post in your thread, and wish you the best of luck.