This is a summary of what happened with IGOFX and their “famous trader” Vladislav 77. They made an astonishing 158 000% in absolute gains, from February 2014 to June 2017, via an account, which clients were encouraged to copy. The entire scheme later collapsed, with a massive loss in a single position. This story may not be as glorious and dramatic, as the rise and fall of Jasse Livermore, but it may prove to be even more valuable for the unsophisticated investor.

I believe it could be also a bit different story behind

That is a typical martingaling + Ponzi - lasted while it could

Martingale could work during proper market conditions (range). Recognizing the market stage is priceless