Holy grail for trading is there is no holy grail. Those who look or run for holy grail they end up find nothing. Only understanding of the market is real. Use strategy that you understand the most. Don't run for ready made strategy.
davidkew posted: In the long term you’ll need a stronger strategy to fall back on.
In the long term, all stop-loss traders will lose money.
Not true. You can set stop loss on all trades and still be profitable in the long term. You just need to have a strategy that has a real long term edge over the market which enters/exits trades based on significant support and resistance levels.
Martingale and grid strategies simply won't work in the long term if the underlying strategy does not have a real edge over the market - just the same as to why all betting systems will fail against the casino, because the casino holds a long term statistical edge against the players in all of the games they offer (expect card-counting in Blackjack where players may occasionally achieve a statistical edge).
This method of protection on the market really requires special attention, because it is a classic format, which has many interpretations. And it can be adapted according to the strategy and the size of the capital. So it can be interesting.
This is usually criticized because it requires a constant increase in order size - and it can lead to a complete loss of capital if you have not been able to predict the situation correctly. But many people use it. And quite successfully.