I've been trading for a couple of decades and have developed a egy that has a martingale element to it with proper money management. For the months I have traded I managed to get my initial investment out and today I am trading just with the profits . My egy involves regular weekly withdrawals.

This month I managed to get 5x profit(newbie luck?) Of my initial deposit as I did a monthly withdrawal, which made me wonder(self doubt) and make this thread since the overall consensus is very negative about martingale based egies.

So my question to this older traders would be: why martingale is considered as a fail egy? Can't a martingale utilize regular withdrawals and proper money management? Will such egy operate in a long term?

Reason being I am sure there are quite a few people who have tried doing this.