"Pure Martingale" (blindly doubling lots on every loss) does not work, it will blow your account.
But when combined with other technics, it does work.
There are some robot trading based on martingale system, almost them eventually fail and burn account
But still, so many traders likes this system
Don't say "never" work, Actually it's not work "forever".
These systems are usually always in the market as opposed to other strategies and (manual) techniques that only place few trades over a certain time span.
When you stretch the time component you can lower efficiency to get to the same a comparable output as with a higher efficiency over a shorter time span.
I agree! All kinds of tools could work somehow. If its not working for you... its because you are not using it right!
On my opinion... I prefer to understand what has potential to move the price up or down... and then get advantage of this knowledge.
The market is definitely not random. It's like talking about probabilities of rains; There are chances of rain, but could change! Specially when you forecast up to 10 days, there are big chances of being wrong... We never know... The best way is still go outside and look up on the sky. Your experience will tell you. If you are not sure, you will consider bringing an umbrella. If you run the risk of going without any umbrella, your eyes will be constantly looking to the sky... cause your subconscious is looking for a place to stop in case of rain to avoid you of getting wet.
If you risk going without any fear, you will probably get a little wet, but still get there in a good shape. Which is fine! It’s the probability of making it over, and over again, could put you in trouble!
However, if you are afraid cause you think you made the wrong decision... cause you did not bring the umbrella, so the sky is dark, and getting worse... Your fear will put you in a deeper situation... large chances of you getting wet, late, loose your glasses, and forget the phone in the bus. : ). Yep... weird, but true! Mark Douglas can tell you better.
The best way is still bringing the umbrella with you. Get a small one so that you can bring it in your pocket. Trade safe!
Manual trading system is the most versatile way of trading. You get all your techniques together, and apply each at the right time.