That's not martingaling. What you did was scale in or pyramid in to an existing trade in the anticipation that your dip is a retracement rather than a reversal. Martingaling is where you exit a trade because it is a loser but then you increase the size (typically double) of the next trade hoping to win back what you lost. The theory is that if you have a big enough trading account and no upper limit to how much size you are allowed to bet or trade, you'll eventually recoup all of your losses. In practice it usually ends in disaster if you do it enough times. Scaling in or pyramiding in is a strategy technique. Martingaling is pure money management (and bad MM at that).
not personal, the 1st person fooled is yourself, not a feeling,it's a fact, wall street is built on that human fallacy/weakness, white lies, things we do to adapt to letting our ego rule, it works in many other professions but not here, this biz is basically accounting profession and all the totals have to add up,we all have to go thru to the other side where we don't count, just the game and win/loss record matter..use any description you want but the I has to go
oh shit man, now you got me confused, I really don't want to talk about martingale, I just want to talk about me, and martingale is a simple enough money management scheme that even I can understand tell me again how 10 in a row is rare It's my second favorite story The first being when Moses Parted the Waters Martingale? ah I'm over it, I already got burned Spreading That's my new thing and if that doesn't work out, I'm going back to Support and Resistance
for the last 4 yrs plus have been avging into short positions, often 10 in a row, for an immediate loss, hoping the spx would revert to a mean, 85% of the time it works, look at a weekly chart and the pullback each month, so the statement about "I" isn't about martingale, it's just a message from one trader to another on a trading website ,expressing a transition a person has to go thru to last in the trading biz, nothing more/less than that, and not a personal attack,every one that's ever traded started with an" I "mentality, the majority of individuals in the US and other developed seemingly privileged countries think this way, wall street knows this and was built on it,the womens clothing,makeup empires ,luxury car market etc..were built on it..just saying it doesn't work in trading and when spotted,should be pointed out as a professional courtesy
My brother was a true compulsive gambler without a plan, it took him one month to lose all the money he got from some lawsuit ($250,000 in one month using the Martingale system). He loved playing Black Jack using this system, he would argue with my mother that "I don't need money to make the Martingale-system work, I only need time!" Mother could not convince him "Vegas is not going to allow you stand around the table without money!" He was nuts, he really believed the Martingale was the secret to extract all the money all the casinos in Vegas were holding for him. He said "I never lost the money, those casinos are holding it for me and with the Maringale I am going to get it back with interest". I like the post on the "Bit-coin Thread" of "picking up nickels in front of a steamroller, that's the Martingale