What is a martingale simple random walk?

Answer 1

Martingale's simple random walk is an algorithm pertaining to the wager system, in which one assumes the course of doubling one's wager in reaction to a win or halves one's wager in reaction to a loss.

So the formula:

( Xn+1 | X0 , ... , Xn )

In this it is supposed that the random variates have a finite constraint (or this equation does not hold up to infinite purposes).