lol, with that million dollar BP you could do well martingaling. how pissed do they get if you lose their million dollars? do you have to repay it?
I have a million dollar sim account with IB (OK, it's more than that now, but it started there), and I tested martingale strategy starting with really bad entries (such as shorting an uptrend at the pullback to trend entry) and working it until it worked. It really really really does work when you have that kind of leverage. (until it doesn't)
Until you miscalculate and another 5/6 happens, only this time it doesn't rebound within that same day.
Maybe it would be possible to come up with a concurrent reverse-martingale system. Say initially go long 2 contracts of NQ with a six tick target. If the market reverses at six ticks in the red, short 1 ES contract. If the market reverses from there, add two more NQ contracts when you get back to break even on the initial NQ entry so that you average up.
Interesting idea, but then in chop you'd have yourself quite a handful. The only way it would work IMHO is if you're lucky enough to double the account before you blow up, take out your original stake and continue to trade the system taking regular withdrawals from that point on. The problem with this though is you'd have to begin each trade so small to allow for your martingale adds that it'd take you forever to double the account. And of course the longer you trade this way, the more likely you are to experience that enevitable blowup.