For sure is a good strategy to play when luck is on our side, but the problem is to know when the good streak will end because that's the point when people send their balance to zero.
Martingale is for sure a good strategy with the right luck but is about the long run to have a bad ending. If we set a goal before starting the session that would help us to walk away sometimes with the money.
How do you know when luck is on your side?
There is no way to know if you are really lucky but player get a grasp of it and think they are lucky when they won in consecutive huge bet. I think you will also believe that you are lucky if you hit a lottery .
Martingale isn't a good strategy.
I think it is not overestimating but rather they failed to recognize when to stop. Martingale has its own strength and weakness which is controlled by the ability of a player to know when to stop.
Best not to count too much on coincidences to start boasting of having discovered a luck formula.
There is no luck formula because the same as you, I also think luck does not exist. It is just a word to describe certain positive events that comes to a person way but scientifically, there is no such thing as luck but only chance.