Did Martingale work for someone?

hit the nail on the head

I think martingale went broke.

Martingale works whatever guys there said.

To nail down, not the strategy build entirely on martingale but which contains its elements. I carried out dozens of experiments particularly with clear market movements (in news times). There is a customized news straddle strategy (plain version worked good in '07-08) with doubling bets, which involves tight SL and limit orders (I'm sure old timers there know that stuff). And the less is distance the better it works. Made that work at Tickmill with 0 pip SL distance, however want to try it with other brokers too.

I think for the martingale strategy to work effectively, the trader must have a decent win-rate (assuming same risk-same return on all trades). This means that no matter how many doubles you apply, if your win-rate is less then say 50%, you are forever bound to lose. For instance, if you record one win in ten, that means you recoup all your initial losses, but then after that you would be taking another spin of loss making trades taking you further to the negative side of the account balance. The other alternative is to adjust the strategy such that you only double your trades until you record a win, after which you begin again. But again I figure that it might be impossible to increase the value of the account this way.

I'm always amazed when I hear about Martingale applied to trading.
Martingale works great if the player knows in advance how much he will benefit from the right bet and how much he will lose if the bet is wrong. For example, if a player bets on red and red dropped out, his rate will double. And if black or zero dropped out, the player will lose exactly the amount that he has put.
And at Forex nor loss nor gain not known beforehand because they depend on the number of pips that the price will pass from opening to closing the order.
I do not see how Martingale can be used at Forex.

Never as far as I've heard.

Tried Martingale in my early trading days - it does NOT work in the long run.

Best strategy in my experience of 5 years trading:

1. use no indicators, they are all lagging
2. enter before the crowd does OR enter after the crowd entered in the other direction
3. use previous day's high and low, major s/r zones and supply/demand for possible turning points
4. use fixed risk (e.g. 2%)
5. get in and out the market quickly in a few minutes (scalping)
6. repeat and grow your account by compounding

In my latest live account I only trade (scalp) the Dow Jones Index - 7 trading days, 156.3% return.

Forget it, martingale does not work from a pure mathematical perspective.

you forgot to add " in a random environment"

some people just want to relax and enjoying the sunset while in beach. others just playing around with the sand, but there's still many people who really love to challenging their own limit by riding the tidal wave before have a drink at shore. martingale are one of these tidal, and it's never ending discussion either it's good or bad for using such method.

In the end it is never enough to rely on one trading strategy (like in this case the Martingale Strategy) because, at times it won't work and when it doesn't it could really end very badly. Additionally, if you were to post a series of losing trades, your account could be drained dry before you know it, and as such you may not have enough in your account to double the bet in the next trade.

Martingale is one of the powerful elements in trading (Forex, Stocks, etc), if you know how to use it then it will bring leverage to you.

Unfortunately, we all use it on the wrong direction, it must be use when you have a consecutive winner not the other way around.

Let's see a simple example,

For every 10pips (100 points ) using EUR.USD , ( exclude fees)

1st Entry, 10K, Result = Gain 10
2nd Entry, 20k, Result = Gain 20 (total=30) (at here, you already have 10 gain from the first entry, so here your total risks is 10k while your total rewards is 30)
3rd Entry, 40K, Result = Gain 40 (total=70) (again, your total risks is always 10, while total rewards now become 70)

to summarize, you keep having fixed 10 as your risk, but your reward keep increasing (30 then 70)
with positive risk reward ratio, in the long run you will make profitable trade

hope that helps

Martingale is a great system not for betting ,not for stocks but for forex world because currencies fluctuate more faster than stock with higher possibility of reversals though not to first entry point but you should not enter blindly but make use of trading skills as well and the most important is well capitalization, forex pair selection, entry point, exit point and hold point you should know the stage where to hold and wait not going on doubling because its martingale and after all that if market is your enemy then only you will come out as a net loser hence the point that market is neither your friend nor your enemy itself is the reason to expect profitability...

Martingale trading strategy is not suitable for me! In my demo I used almost all of trading strategies including Martingale; but no good result I found! Actually, I found only good result from Price Action! As a result now I am using PA strategy in my live trading!

I tend to think that people who martingale are people who can't stand taking any losses, be it casino gambling or trading. It works if the market 'lets' it work. When it doesn't work, the losses sustained would be catastrophic.

So you have hit your head against the wall multiple times, and you want to find out if it's worked out for anyone so you can go hit your head again?

Statistically speaking, sooner to later, martingale strategies blow up.

I have not worked with them but have seen so many negative reviews about their work and service which they offer.

Martingale is a time bomb, no body know when it will explode, if you are lucky you can be a millionaire before it blows, or it can blow on half way there, or if at very first beginning, it is really gambling more than trading.

In long term it will blow the account, maybe in a short term can be used

I used to trade it on binary, specially on 60 second. made me loos a lot of money. as a lot of people already said here on the thread, the problem with this method is that you have a limited amount of layers you can use - so if you have a huge amount of money, maybe it can work for you. Start with a very small amount for the first layer and grow from there, keep in mind that every following layer is going to be more than double of the last one so it will increase very very fast.