It’s what a forex practice account was made for – the ability to test EAs or forex robots with real data when positions may be modulated progressively against risk.

Martingale is essentially a double or quits strategy – and applies to any either/or, win/losegame such as tossing a coin for heads or tails. If, every time you lose, you double your bet, at some point you’ll win and recoup all previous losses, or so the theory goes.

Of course, your position will start to increase rapidly, and in the real world it may well be that you blow the account before recouping, which is the serious down-side to the whole theory…

No forex account, practice or otherwise, has infinite resources – so the exponentially increasing size of the bet and position will eventually blow the account – think grains of rice on a chessboard, for how that’s going to work, if you do reckon on using a straight Martingale system.

In the default mode, always consider drawdown since there are no stops placed – this isn’t an EA to switch and leave running for a week.

There is a smoothing component – see the graph for an indication as to how the position Balance / Equity can be regained after a negative run.

Download mq4 EA: martingale.zip