Regarding Martingale - its taking the roulette red/black theory and applying it to trading... in my early days (about 10 years ago) i spent 6 months taking my first live account from $100 to $600 (admittedly risking too much at the time) using Martingale.... the problem is, once you get stuck in a range you're in a mess.... My start risk % was 1% and i would only trade one pair at a time, and yet I watched Martingale blow the entire account in 4 hours....
Martingale is like a ticking bomb - it lures you into a false sense of security... then one day when you are sitting confident you watch your account suddenly blow up....
It all depends on the strategy and type of stop loss. Martingale can be perfect if, for example, we use stop loss on capital, e.g. when it drops by 5%, we close all positions. Then the efficiency counts and the market verifies the consequences and whether it stays on assumptions. There are people who play TP 2 pips and stop loss 100 pips. at first glance seems silly but if their effectiveness is higher than 98.5% then it is a very good strategy. It all depends on the specific assumptions they contain.
From the beginning, four emotions have been guiding people in the market: greed, fear, ignorance and hope. That is why the formations known to us on the chart are still repeating.