No that's not right. At $2 odds the progression bet is insane even with a win on the the 5th bet as you have lost $5 and risked $15 to do it. So if your 'lucky' you lost $5 on a $15 bet all up. Your actually 'chasing' a $5 loss and feeling better off about it! Totally crazy.

With your progression, you must [also] chase perpetually higher odds or accept progressively worse odds. Naturally the higher the odds, the harder it becomes to win. In the end ,regardless of stopping and starting again, you will be eventually betting $50 to win $5 [great odds]. Boom, boom.

The maths are here in this forum by mathematicians [several times] that prove that progressions eventually always lose. The only way they win is with a lucky run of ins. The best bet is to improve SR with flat bets that have winning prices that put you in front. There is no way to turn lead into gold I'm afraid which is the progressive punters aim. Bookies would go broke if there was because we would all be doing it.