The answer
The pros here are giving you sound advice. If casinos could be beaten with progressions, they'd be out of business by now (one can simply change tables to get higher limits -- most would run out of cash before running out of table limits in Vegas). You really didn't discover something new, you know.
The formula is simple. Expected win = average bet X player advantage X # hands played. As you can see, since your advantage is negative (-0.5%), your expectation is negative. For the Martingale progression, take the simple example of betting on a coin toss (win on heads, lose on tails). On average, you'd go quite a while before losing eight in a row. However, that one occurence would wipe out your winnings and then some ($255 times your starting bet). And that's a game without a house advantage. The probability of eight tails in a row is 0.5^8 = 1/256. That's why you haven't seen it yet. The probability is low, but the expectation is a killer. Unfortunately, you will see it with ANY play regularity.
Don't believe it? Well, just construct a simple Excel spreadsheet, using the random number function [=RAND()] and populate a column down a few thousand rows. Make a second column with an IF statement that returns one value for random numbers from 0 to less than .5 and another value for the rest. See how many times you get eight or more "tails" in a row. Next, make a profit/loss colums and graph it -- see what happens. Finally, add in a house advantage and see what happens. It won't be pretty!
Now for the worst part: If your starting bet is $10, you'll run through your available bankroll with eleven losses in a row (not including insurance, splits, or double-downs). For a $1 min bet, you can take 14 losses in a row. The probability of 11 "tails" in a row is 1/2048. Those odds may sound okay, but you can play that many hands in only 20 hours or so. 20 hours to ruin, vs limited win potential? Doesn't sound good to me. I'd rather bet it all on one hand myself.
So, there you go. Best of luck with it, but cannot make money by chasing losses or wins.