Martingale doubles the position size after each loss. The pitch sounds airtight: keep doubling and a single winner clears the whole losing streak with a small profit on top. The pitch quietly assumes you have infinite capital and your broker will let you keep going. Neither is true.
In a real account, the doubling hits a ceiling fast. Equity runs out. Margin rules close you out before you reach the recovery hand. The losing streak that was "extremely unlikely" only has to happen once.
The other trap is what these systems look like from the outside. Short equity curves are gorgeous. Win rates above 95 percent. Years of small green wins, no visible losers. Right up until the day a streak lands and the account goes from "incredible" to zero in a single sequence. A lot of forex products sold online use martingale or partial-martingale sizing for exactly that reason. The curve sells the system.
Javlot does not list strategies that rely on martingale to survive. Position sizing has to be bounded and explicit before a strategy can wear a Vetted badge. Doubling down on losers is not a risk-management framework. It is a hidden tail risk dressed up as a winning track record.