Martingales and related "plans"

there are a lot of ways of trying to divide traders into two groups

here’s one of them: (a) the group with some instinctive grasp of logic, arithmetic, statistics and probability (they typically understand, for example, that there’s absolutely no logic involved in allowing the stake for a bet to be determined as a response to the outcome of the previous one); and (b) the group of those living in a strange, hopeful, naïve wonderland (they typically don’t quite understand what the first group does)

group (a) has no interest in Martingales, anti-Martingales or any other similar of related “staking progressions”

they simply want to develop their verifiable statistical edge over the market and then apply it safely whenever it’s possible to do so

in complete contrast, those in the dream-wonderland group (b) apparently imagine that even a system without a verifiable edge can somehow be “made profitable” over the long term and/or “made safe” simply by changing the size of a bet according to the previous bet’s outcome

understandably, they tend not to say that too openly, but some of them can still be found on the web posting over and over again stuff that actually rests on such a misguided premise

we all decide for ourselves which group we prefer, and indeed which group we choose to join ourselves

which group is yours?

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Martingale after 7 losers

8th Wager 128 times the original trade

Not good

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A rhetorical question! :rofl:

Most people don’t have a clue about how to play a martingale…

They trying to do a martingale and they fail miserably and they quit.

And then they come in the forum and talk about how martingale is a failure but the truth is it’s not the martingale that’s a failure it’s that they tried to do it with their basic indicators and they’re moving averages.