I won’t say that martingales are bad. They can be quite helpful in several ways and an important tool for the growth of our account balance. The only problem is that they shouldn’t be done when we are emotionally disturbed, otherwise we’ll chose the worst trades possible. When emotionally disturbed, we tend to take trades we normally wouldn’t. If your strategy requires a martingale in the next candle (in case of loss), try to stick to one martingale, and in case of a second loss, I highly recommend you let it go. Nobody stays 100% normal after a martingale loss. Chances you will want to pursue that sequence and double the trade amount each time are huge. And there’ll be a day when a trend will not reverse even if you took 5 martingales. It needs to happen only one single time to have all your patrimony destroyed (your account balance).
If you are a beginner, I want you to start off on the right foot. If you are struggling to have consistency in binary options, I want you to achieve it. And that’s why I think that the martingale topic is one of the most important topics I’ve written. Chasing a candle sequence one after the other and martingaling as if there was no tomorrow could make you win 99 times, but it requires one single time to ruin you. So, let’s not do it. 😉
The best thing to do is to accept the loss, calm down and have the tranquility you will recover in the next confirmed signals. If you use a good trading system the market will give you tons of good signals if you can wait. You can even use higher trade amounts in the next confirmed signals, but not on that same sequence. This is the secret of a well done martingale. The one where we use the math in our favor, not against us.
Sometimes you don’t even need to martingale. You can use the same amount if you need to make re-entries to break even. Read my post called “How much % should I use per trade?” as I talk about martingaling there too and I’ll teach you something I´ve used in the past when I was not as consistent as I’m today, and it really worked.