I mean whether chasing after a loss works or not is literally a matter of luck. I wouldn't recommend it, if only because it's a bad habit to form and even if you're lucky, your luck will eventually run out. The only thing that actually differs from person to person is how well they handle it.
No win streak or loses streak last forever, but if you can manage your bet style well, you will not lose all money after a long win streak. Because good management of your capital is don't invest it all, don't trade it all, and in gambling it is don't bet it all.
It is more difficult when you are in a loss streak, if you want to continue, revenge the loss streak to get money back, you can make many more emotional and bad bets. Money will vanish very quickly and in a long loss streak, the best strategy is to stop. Stop to calm down, and have enough time to refresh your mind. Days later you can come back to gambling, trading or investing when you feel better.
Gambling and doing things responsible are important.