Kestrel Expert Advisor for Money Managers: MAM and PAMM

The due diligence numbers

Kestrel EA is a grid expert advisor for MetaTrader 4: it opens from its own signal, adds to the basket in small, capped steps when price moves against it, and closes the whole basket together at its target. It never closes a single trade at a loss; until the basket closes, the loss is floating.

The eleven published records at Zenith level, simulated on Dukascopy data, euros at fixed rates — Summit is half of every euro figure and Horizon a tenth:

Record	Period	Simulated profit, Zenith	Worst floating loss, Zenith	Deepest fall, Zenith	Margin level at the worst moment	Capital we recommend, Zenith
EURUSD Patient	2010 – Sep 2026	€262,280	−€27,880, 21 Aug 2024	€27,880	523%	€85,000
EURCAD Patient	2014–2025	€148,260	−€34,080, 13 Mar 2017	€33,860	866%	€103,000
GBPUSD Patient	2010–2025	€300,250	−€38,850, 14 Nov 2024	€38,730	531%	€117,000
AUDCAD Patient	2010 – Sep 2026	€340,660	−€37,030, 22 Oct 2012	€36,760	568%	€140,000
EURUSD Active	2010 – Sep 2026	€442,320	−€49,460, 18 May 2017	€49,270	333%	€149,000
EURCAD Active	2014–2025	€226,150	−€58,870, 13 Mar 2017	€58,640	723%	€177,000
AUDCAD Active	2010 – Sep 2026	€870,890	−€46,990, 13 Feb 2011	€46,760	523%	€203,000
GBPUSD Active	2010–2025	€537,250	−€71,220, 31 Jul 2020	€70,890	603%	€214,000
K3 (AUDCAD Patient + EURUSD Patient)	2010 – Sep 2026	€602,940	−€37,040, 22 Oct 2012	€36,470	>500%	€225,000
K1 (AUDCAD Active + EURUSD Patient)	2010 – Sep 2026	€1,133,170	−€47,010, 14 Feb 2011	€46,500	>500%	€288,000
Full portfolio (AUDCAD Patient + AUDCAD Active + EURUSD Patient)	2010 – Sep 2026	€1,473,830	−€61,650, 4 Mar 2016	€61,140	>500%	€428,000

The margin level is the reading at the worst moment on the recommended capital at 1:500 leverage; for the portfolios, sized on the added-up recommendations, it reads above 500%. A worse episode than any in the record remains possible.

Where these figures come from: our own simulation engine, checked order by order against an independent record of the same strategy before publishing — it reproduces 98.6% to 99.3% of the openings and 99.96% of the basket targets. The engine charges no swap, commission or slippage and closes each basket at its exact target, so its profit runs about 10% to 17% above that independent record while the risk figures agree to within about 5%. For the conservative reading, take about 15% off every profit figure and leave every risk figure where it is. Who publishes these figures: About Daemon Digital LLC.

Coverage in three lines: EURUSD and AUDCAD run 2010 to September 2026, with the 2026 months on a different feed; GBPUSD runs 2010 to December 2025; EURCAD runs January 2014 to December 2025, because the earlier history of that pair is not good enough to publish — including it would move the EURCAD Patient recommendation from about €10,300 to about €57,000, and we publish the exclusion rather than the larger number. The full report: Kestrel Expert Advisor Backtest: The Full Report.

One honest limit: we have not run Kestrel inside a MAM allocator ourselves, and we will not claim it works there until we have.

Summit and Zenith for allocations

Horizon, Summit and Zenith run identical code; only the starting lot changes, times five at Summit and times ten at Zenith. The floating loss, the lots held and the margin scale with it, so the capital behind the account has to move by the same factor. Splitting one Zenith account across ten clients does not shrink the worst case; it distributes it.

The manager chooses the pairs — one to four of EURUSD, GBPUSD, EURCAD and AUDCAD — then Patient, Active or both for each, and the level per account. Patient adds to a basket less often and holds a smaller worst case; Active adds more often, returned more in the backtest and reached a larger worst case.

Two variants of the same pair are not diversification — on EURCAD their worst day is exactly the same day. Different pairs are: EURUSD Active and AUDCAD Active together reached a joint worst moment of €4,946 where the two separate ones add up to €9,645 (simulated, 2010 to September 2026, Horizon). The price of that smoothness under our sizing rule: the capital we recommend for a combination is the individual recommendations added up, not the smaller joint reading.

Like the kestrel that hangs still in the wind before it strikes, Kestrel EA waits, holds and closes the basket once — with the same rules at every level.

Set files by level

Set files ship for the four pairs, Patient and Active, at the level you licence — one per chart — so a Zenith allocation is loaded rather than hand-tuned. The licence also includes updates while it is active, a private Telegram group for clients and email support. The manager chooses the portfolio and level per account, the broker, the leverage and the account type, and can stop the expert advisor on any terminal at any moment.

A Zenith licence is €9,999 per year and a Summit licence €4,999, VAT included; the three levels are on Kestrel Forex Robot Price and Licence Levels. One licence covers one MetaTrader 4 account for twelve months, at any level; it does not split across several accounts. For an allocation across several accounts, write to us and we quote it directly.

Getting started

Choose the portfolio and level for each account, buy the licence, install it on each MetaTrader 4 terminal on a VPS and load the set files, then follow the record with its dated worst case. The same five steps as any buyer, described from the investor’s side on I Don’t Want to Trade. Can I Still Use Kestrel Expert Advisor?.

What Daemon Digital LLC never does

Kestrel is software. The accounts stay with your broker, the allocation stays in your allocator and the client relationship stays yours. We never receive, hold or manage client funds.

If your side of the conversation is broker commission rather than allocation, that is Kestrel Expert Advisor for Brokers and Introducing Brokers.