I have been trading for a couple of years and have developed a strategy which has a martingale element to it with proper money management. For the months i have traded i was able to get my initial investment out and now i am trading only with the profits . My strategy involves regular weekly withdrawals.
This month i was able to get 5x profit(newbie luck?) of my initial deposit as i did a monthly withdrawal, which made me wonder(self doubt) and create this thread since the general consensus is quite negative about martingale based strategies.
So my question to the senior traders is: why martingale is considered as a fail strategy? Can’t a martingale work with regular withdrawals and proper money management? Will such strategy work in a long run?
Reason being i am sure there are many who have tried doing this.
This month i was able to get 5x profit(newbie luck?) of my initial deposit as i did a monthly withdrawal, which made me wonder(self doubt) and create this thread since the general consensus is quite negative about martingale based strategies.
So my question to the senior traders is: why martingale is considered as a fail strategy? Can’t a martingale work with regular withdrawals and proper money management? Will such strategy work in a long run?
Reason being i am sure there are many who have tried doing this.