Using Options With A Trading System

Has anyone used options to control loses in a trading system particularly in the forex market? Have the benefits of limited losses outweighed the cost of the options?

I've been intrigued by Martingale systems, or more precisely a modified form where you don't double your position, but you add one more layer of trades each time the position goes against you. I know that Martingale's eventually blow up, but what if you use options to stop that total destruction of your account?

Thanks

Steve