The strategy is called Martingale and is very common here on C2. It is used by gamblers and charlatans. Here is a full discussion of the strategy: Latest Martingale Systems (and other ways to go broke fast)
The opinions expressed in these forums do not represent those of C2, and any discussion of profit/loss is not indicative of future performance or success. There is a substantial risk of loss in trading. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. You should read, understand, and consider the Risk Disclosure Statement that is provided by your broker before you consider trading. Most people who trade lose money.
The strategy is called Martingale and is very common here on C2. It is used by gamblers and charlatans. Here is a full discussion of the strategy: Latest Martingale Systems (and other ways to go broke fast)