What could be a standard way to use martigale?

[F.Black]

Is there any documentation that suggests how to proceed a standard way with martingales?

I would like to launch a 0.01 trade and if I fail in my judgment I would enter the next one with double, which is 0.01 x 2 = 0.02

Later if that fails too, then in the next one I will enter with 0.02 x 2 = 0.04

Following: 0.04, 0.08, 0.16, etc.

Thanks..

[Sergey Golubev]

Martingale, Hedging and Grid

The forum threads

1. Martingale vs. Non Martingale (Simplified RoR vs Profit and the Illusions)
2. Martingale, Hedging and Grid : MHG
3. Featured Martingale EA to explore and expand, provided by a programmer 
4. Does a safe Martingale exist ?
5. Why people are still trying Martingale Systems?
6. The Video - Trading The Martingale and Anti Martingale Strategies

CodeBase

1. Angry Bird (Scalping) - expert for MetaTrader 4 - the settings and trades - look at this post.
2. Grid Semiautomat Panel - expert for MetaTrader 5
3. Grid Template EA - expert for MetaTrader 4
   
4. VR---SETKA---3_v2 - expert for MetaTrader 5
5. KNUX Martingale - expert for MetaTrader 4
6. MacdPatternTraderAll0.01. Time+Martingale - expert for MetaTrader 4
7. Pure_Martingale - expert for MetaTrader 4
8. Trend_Catcher - expert for MetaTrader 5
9. Ingrid Martingale - expert for MetaTrader 5
   
10. MultiMartin - expert for MetaTrader 5
11. N trades per set Martingale - expert for MetaTrader 4 
12. Martingale Smart - expert for MetaTrader 4 
13. Reversing Martingale EA - expert for MetaTrader 5
14. VR Calculate Martingale Lite - indicator for MetaTrader 4
15. VR Calculate Martingale Lite MT 5 - indicator for MetaTrader 5 
16. Hoop master 2 - expert for MetaTrader 5
17. Martingale EA - expert for MetaTrader 4
18. Simple candle filter martingale EA - expert for MetaTrader 4
19. RSI Martingale - expert for MetaTrader 5
    
20. more here
    

The articles

• What is Martingale and Is It Reasonable to Use It?
• What Is a Martingale?
• Statistical Verification of the Labouchere Money Management System
  
• Developing a cross-platform grider EA (part III): Correction-based grid with martingale
• Martingale as the basis for a long-term trading strategy
• Reversing: The holy grail or a dangerous delusion?

============

[William Roeder]

Martingale, guaranteed to blow your account eventually. If it's not profitable without, it is definitely not profitable with.
          Martingale vs. Non Martingale (Simplified RoR vs Profit and the Illusions) - MQL5 programming forum 2015.02.11

Why it won't work: Calculate Loss from Lot Pips - MQL5 programming forum 2017.07.11

[F.Black]

Thanks a lot