The MasterMind 2
The MasterMind 2 is a Martingale-based EA that opens trades based on a primary signal (typically a momentum or trend indicator) and doubles the lot size after each consecutive loss, aiming to recover all previous losses with a single winning trade. It operates without a hard stop-loss, relying instead on the Martingale progression and an optional take-profit target to close positions. The strategy inherently carries exponential risk as losing streaks rapidly escalate position sizes.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
| Symbol | P&L | Annual | Max DD | Trades | Win rate | Sharpe | Recovery | Losing streak | Per trade | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| EURUSD | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
| GBPUSD | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
| USDJPY | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
| XAUUSD | 0.00% | 0.00% | 0.00% | 0 | — | — | — | — | — | Not convertible yet |
Why this EA never traded: no entry rule survived the conversion.
Converted from MQL5 to Python and run with the same rules for every EA. Positions use MT5 lot sizes (100,000 units per FX lot, 100 oz per gold lot) with 1:100 leverage, one order at a time, and a stop-out below 10% of the starting balance. Sharpe is computed from the equity curve. Results marked as unreliable are shown for completeness only.
Blow-up risk: Elevated
- Increases the position size after losses (martingale)
- Can hold up to 10 positions at once
High: stopped out in our backtest, or martingale/grid sizing without a stop loss. Elevated: martingale or grid sizing with a stop loss, or several positions at once without a stop loss. What the label means and what we found →
Strategy analysis
The core strategy of this EA is the Martingale doubling method: it opens the first position with a base lot size and doubles the lot on each subsequent entry after a loss, expecting a single win to recover all prior losses plus profit. Entry conditions are typically based on simple technical indicator signals such as moving average crossovers or RSI overbought/oversold levels, while exit conditions rely on reaching a preset take-profit target or an account equity protection trigger. Position sizing follows a fixed multiplier progression (usually 2x) with no hard stop-loss price set on any individual trade. Money management lacks maximum position limits and drawdown protection, meaning a prolonged losing streak can cause lot sizes to escalate exponentially toward account blowout. The overall strategy concept is straightforward but faces catastrophic risk under sustained losing sequences.
Strengths
- Strategy logic is simple and easy to understand with few parameters, facilitating debugging and configuration
- In short-term ranging markets, the doubling approach may recover losses and generate profit quickly
- Maximum order count limit provides some degree of protection against extreme escalation
Weaknesses
- Martingale lot doubling causes exponential position growth during consecutive losses, easily leading to account blowout
- No stop-loss price is set, meaning individual trade losses have no ceiling
- Lacks drawdown protection and dynamic lot adjustment, resulting in weak money management
- Counter-trend doubling during trending markets accelerates losses
Possible improvements
- Add hard stop-loss and maximum drawdown protection to prevent uncontrolled single-trade or cumulative losses
- Replace Martingale doubling with fixed-fractional position sizing (e.g., risk percentage) to reduce blowout probability
Risk assessment
Overall risk: Dangerous
- Martingale lot doubling causes exponential position growth during losing streaks, potentially leading to account blowout
- No hard stop-loss means individual trade losses are unlimited
- Lacks drawdown protection and forced liquidation mechanisms
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
LotSize | 0.01 | Initial base lot size |
Multiplier | 2.0 | Lot multiplier after loss |
TakeProfit | 10 | Take profit in points |
MaxOrders | 10 | Maximum open orders |
SignalPeriod | 14 | Entry signal indicator period |
Similar Martingale EAs
Backtests are historical simulations and do not guarantee future results. Not financial advice.