RogerM is, as always, quite right ;-)
But where, the question is, does he get his "excitement"? ;-))
I trade US shares and futures for a living and never, ever risk more than 2% on all combined positions, i.e. if all positions were to simultaneously go against me, that would be my maximum loss.
In fact, I am usually at least partially hedged so am rarely exposed as much as 1%.
Steve, I agree that article is faulty in at least one respect. To reduce your risk on each losing trade is counter-productive as it makes it more difficult to recover. That sort of strategy is only suitable for beginners to protect their capital, not for professional traders.
However, your idea of doubling is the well known Martingale (?)system and will result over a long run - and usually much sooner, in total financial ruin. As you say, who wants to end up risking a huge amount to gain one pound.