Any strategy that makes more than one entry is risky for me (unless it's a second one to hedge, etc.)
Stay away from martingale, averaging, etc. They will blow your account if you use them long enough. It could be days, weeks, or months before it does but, it does and will blow your account.
I hope this helps.
Well not necessary. It does not matter if you open one 0.5 lot position or 10 0.05 positions.
You still have the same risk. But actually 10 smaller positions could average the trades in your favor.
Its all about risk mgmt - how much you risk for all open positions.
I understand that they're equivalent in terms of margin requirement but which would (you) rather do, 1 trade or 10 trades? For me, opening more than 1 (unless it's another opposite direction trade to hedge), implies that the strategy isn't looking to make the 'best' entry and therefore, not a strategy I want to keep polishing to make better.
Do you have an account to compare both strategies?
Yes, the account(s) I've had using martingale, averaging, etc., have all been blown to bits. So currently, I don't have any of those accounts to compare since they're in FOREX heaven, or hell.
As for my current methods, see my demos.
Before you say 'but it's only a demo,' analyze some of the statistics and if you know what key things to look for, you'll see that these demo performances don't benefit from a demo environment. For example, one statistic you can look for, is the number of pips. Generally, the strategies that benefit from a demo environment are ones that depend on broker execution since usually they're looking in grab a pip or two and we all know that execution isn't an issue on demo accounts; well, unless a demo server goes down temporarily.
Like I've mentioned before, I'm running a live next to a demo and I don't see any difference. I'll soon be setting up brand new live accounts so that I can publish those for demo-haters.