Can someone please clarify when it is profitable to use the Martingale strategy (assuming it's used as 1 step Martingale only).
I think I read in Blackjack that if you have any positive win-rate (e.g. 52%+) then Martingale increases your long-term profits and it's +EV (assuming you have the capital to do so).
So in as short and simple an answer as possible, if all trades have an equal 61% probability of winning, will using a 1 step martingale make me more profit then no Margingale at all? Is there any reason or situation where I should use Martingale or avoid it?
For arguments sake, I want to ignore emotional trading and assume all trades are independant (i.e. not doubling up on the same trade in different positions).