Using Martingale with stock trading?

Recently over Christmas I was looking at photos on my cousin's computer, dreaming about owning even one of the multitude of awesome cars my Aunty's second husband owns(he is megarich, made money from importing computers I believe), when I saw a picture of a yatch.

Now I knew he had bought a yatch a couple of years ago, which I think was formerly big racing yatch "Wild Thing", but seeing the pictures I saw it was now called "Martingale".
I asked my aunt in passing about this, saying that Martingale is a betting system that I knew of, and she said that it is some kind of system for trading as well.
I didn't get to speak to her about it again, and I didn't see him at all, but I just now remembered about it and had a look with Google.

Like my aunt said, it seems that it is the same for trading as for even money or near even money betting. It is almost certain to ruin most people if they use it, except for the megarich, who can ride out the up and downs and make money from it. You learn something....

that is what.. well this is really bad but i forgot his name.. the guy who invented card couting. he is now worth billions from using a or "the" Martingale
system... funny... he also has a yatch..

are you not telling us somthing aussie?

Not so. 'Ed Thorp' started Newport Princeton Partners to apply his proprietary computer-driven hedging and arbitraging systems. In the late 80s he was an "unindicted co-conspirator" in the USA vs Michael Milken criminal case. But no martingales! zg

I saw a show on card counting and it said when Thorp was testing his card counting theory he was funded by the Italian mob. I know this has nothing to do with the thread but I just saw it and thought it was an interesting note.