diff --git a/docs/includes/protections.md b/docs/includes/protections.md
index a8caf55b1..7378a590c 100644
--- a/docs/includes/protections.md
+++ b/docs/includes/protections.md
@@ -7,7 +7,7 @@ Protections will protect your strategy from unexpected events and market conditi
 All protection end times are rounded up to the next candle to avoid sudden, unexpected intra-candle buys.
 
 !!! Note
-    Not all Protections will work for all strategies, and parameters will need to be tuned for your strategy.
+    Not all Protections will work for all strategies, and parameters will need to be tuned for your strategy to improve performance.
 
 !!! Tip
     Each Protection can be configured multiple times with different parameters, to allow different levels of protection (short-term / long-term).
diff --git a/freqtrade/mixins/logging_mixin.py b/freqtrade/mixins/logging_mixin.py
index 2e1c20a52..06935d5f6 100644
--- a/freqtrade/mixins/logging_mixin.py
+++ b/freqtrade/mixins/logging_mixin.py
@@ -1,4 +1,5 @@
 from typing import Callable
+
 from cachetools import TTLCache, cached
 
 
diff --git a/freqtrade/optimize/backtesting.py b/freqtrade/optimize/backtesting.py
index 5bb7eaf74..de9c52dad 100644
--- a/freqtrade/optimize/backtesting.py
+++ b/freqtrade/optimize/backtesting.py
@@ -18,6 +18,7 @@ from freqtrade.data.converter import trim_dataframe
 from freqtrade.data.dataprovider import DataProvider
 from freqtrade.exceptions import OperationalException
 from freqtrade.exchange import timeframe_to_minutes, timeframe_to_seconds
+from freqtrade.mixins import LoggingMixin
 from freqtrade.optimize.optimize_reports import (generate_backtest_stats, show_backtest_results,
                                                  store_backtest_stats)
 from freqtrade.pairlist.pairlistmanager import PairListManager
@@ -25,7 +26,6 @@ from freqtrade.persistence import PairLocks, Trade
 from freqtrade.plugins.protectionmanager import ProtectionManager
 from freqtrade.resolvers import ExchangeResolver, StrategyResolver
 from freqtrade.strategy.interface import IStrategy, SellCheckTuple, SellType
-from freqtrade.mixins import LoggingMixin
 
 
 logger = logging.getLogger(__name__)
diff --git a/freqtrade/plugins/protections/max_drawdown_protection.py b/freqtrade/plugins/protections/max_drawdown_protection.py
index f1c77d1d9..d54e6699b 100644
--- a/freqtrade/plugins/protections/max_drawdown_protection.py
+++ b/freqtrade/plugins/protections/max_drawdown_protection.py
@@ -54,7 +54,10 @@ class MaxDrawdown(IProtection):
             return False, None, None
 
         # Drawdown is always positive
-        drawdown, _, _ = calculate_max_drawdown(trades_df, value_col='close_profit')
+        try:
+            drawdown, _, _ = calculate_max_drawdown(trades_df, value_col='close_profit')
+        except ValueError:
+            return False, None, None
 
         if drawdown > self._max_allowed_drawdown:
             self.log_once(
diff --git a/tests/plugins/test_protections.py b/tests/plugins/test_protections.py
index 2ad03a97c..82b6e4500 100644
--- a/tests/plugins/test_protections.py
+++ b/tests/plugins/test_protections.py
@@ -304,6 +304,18 @@ def test_MaxDrawdown(mocker, default_conf, fee, caplog):
         'XRP/BTC', fee.return_value, False, sell_reason=SellType.STOP_LOSS.value,
         min_ago_open=1000, min_ago_close=900, profit_rate=1.1,
     ))
+    Trade.session.add(generate_mock_trade(
+        'ETH/BTC', fee.return_value, False, sell_reason=SellType.STOP_LOSS.value,
+        min_ago_open=1000, min_ago_close=900, profit_rate=1.1,
+    ))
+    Trade.session.add(generate_mock_trade(
+        'NEO/BTC', fee.return_value, False, sell_reason=SellType.STOP_LOSS.value,
+        min_ago_open=1000, min_ago_close=900, profit_rate=1.1,
+    ))
+    # No losing trade yet ... so max_drawdown will raise exception
+    assert not freqtrade.protections.global_stop()
+    assert not freqtrade.protections.stop_per_pair('XRP/BTC')
+
     Trade.session.add(generate_mock_trade(
         'XRP/BTC', fee.return_value, False, sell_reason=SellType.STOP_LOSS.value,
         min_ago_open=500, min_ago_close=400, profit_rate=0.9,