The Martingale strategy aims to recover losses by doubling trade sizes after losses. Martingale EAs automate this high-risk approach in forex and crypto trading.

After a losing trade, Martingale EAs automatically double position sizes for the next trade while targeting the same entry price. This continues until a winning trade occurs to recoup the accumulated losses.

Martingale EAs rely on statistical probability of getting one winning trade eventually to offset earlier losses. However, long losing streaks can rapidly multiply losses before a winner, blowing accounts.

Although Martingale may recover small losses in the short run, large losses are inevitable long term. No trading strategy can profit after multiple consecutive losses. Strict money management is critical to limit downside.

Overall, Martingale EAs are very high risk and not recommended. Markets often trend longer than most expect, leading to accelerating drawdowns. Traders should focus on quality setups, risk management, and disciplined strategy execution. Martingale is essentially gambling, not trading. Most experts advise avoiding martingale EAs.