Based on the 100% risk this account is currently running at the moment ...
.. it is likely gone now.
Yes this is END. Update is off.
This is true for every martingale system sooner or later only blown account.
That is not true.
Although FXCharger had an interesting basic concept, it was simply curve fitted to a specific market situation which existed the last years. Just ask yourself why it was not possible to backtest the system for periods before 2013!
I have developed my own system based on the basic idea, but managed to make it viable for a much wider range of market conditions resulting in surviving any tests since 2003 including the financialc crisis 2008/2009 and the current Covid-19 period.
Let's talk facts about high-risk trading such as Gird and Martingale.
I also develop an EA based on the Martingale strategy(Which I never use on real account). I am here sharing backtest of the strategy which I backtested since 2003 on tickdata. Look at the equity curve consistent profit without losing any month. This backtesting works on multiple currency pairs. Look like a money-printing machine.
So what is the catch here?
The answer is that I curve fitted Entry, Exit and Risk in such a way that EA backtesting should survive downswing since 2003. But there is a high probability that account will crash on future data and drawdown can be easily surpassed in future.
It is very easy for me to sell this EA as a holygrail of Trading and earn easy money. But my conscience never allows it as I know at some point there will be only blown account. Remember you can earn 10000% but you can only lose 100% only.
If you are still not convinced then I can provide some statistical data to prove my point that there is no advantage of using high-risk idea such as martingale .
Basically your post is a yes and a no.
Averaging does NOT make a system profitable by itself. In consequence it does not turn a losing system into a profitable one.
But you did not mention aspects like comfort to drawdown phases or general 'peace of mind' growth of equity curves.
A standard trading system with fixed SL and TP and positive risk/reward on each and every trade will have time periods where your balance will decrease constantly and you never know when the situation changes again. Something not everyone wants to live with, having several consecutive months losing money. Here, averaging provides an undisputable advantage.
EVERY system lives from risk/reward - this is also valid for martingales and grids.
If your grid is making 100% in six months but crashes on average every two years you still have an incredible risk/reward to earn money in the longer run. Earning 20% a year and have a 100% crash every two years leads to a horrible risk/reward. Two grids, but two totally different stories! I am showing you a backtest of my EA undermining my argumentation. It is not about the possibilty of a single loss, it is about the longterm perspective.
Talking about horrible risk/reward, your shown performance is exactly that. 30% gain with 30% max drawdown after 17 years!? TIME is a factor that makes the difference here.
So your shown example system is not a holygrail. Why did you hide the backtesting period by the way? ;)
Based on my longyear journey it is everything but NOT EASY to develop a system (also an averaging one) that proves success for 15-20 years.