Proper bankroll management isn't just about setting limits, it’s about sticking to a disciplined plan.
You sound like messing up risk management with money (or bankroll) management. Moreover, risk management covers your limits and sizes still some studies are going in-depth and focussing on money management in more detail.
Even if you lose 5 bets in a row, you're not wiped out and you don’t feel desperate. The key is having a plan and actually sticking to it.
5 straight losing bets are most common and if you are not in a plan for handling it, you are not fit for martingale. Because, I have seen up to 20 continuous losing streak as well. Having a plan always help you, I agree but up to what level? For example, if you close your betting after 5 losing streak and decide to re-start, how many such 5 loses in a row you can afford? So, having a plan does not mean you can manage everything. Overall, you need all which includes your luck factor as well because this is how gambling works beyond your
plans and management skills
and plans.