A method for determining a maximum gain is disclosed that is applicable in a forward signal path starting at a microphone (1) and ending at a receiver (11) of a hearing device, the maximum gain being a gain value at which just no feedback occurs. The method comprising the steps of estimating a estimated feedback transfer function (F′) characterizing a feedback signal path (15) starting at a receiver (11) and ending at a microphone (1) of the hearing device, while the hearing device is inserted into an ear of a hearing device user, and adapting the estimated feedback transfer function (F′) as a result of a changing feedback signal path (15) by applying an adaptive algorithm. The invention is characterized by determining the maximum gain from the estimated feedback transfer function (F′), in particular by coefficients of the estimated feedback transfer function.