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Jesper Christensen  

Set files can be downloaded here: https://www.mql5.com/en/blogs/post/746336

More set files will be released during the next months. 

If you want to backtest this EA you need to use high quality tick data. The historical data provided by your broker through mt5 will have a lot of gaps and will not give accurate testing results.  You can follow my guide on how to test on 100% real tick data here: https://www.mql5.com/en/blogs/post/746240

I can share tick data with you if you do not have a subscription with any tick data provider. In that case, simply write me a personal message. 

Jesper Christensen  



6 COPIES LEFT AT 60$ 

BIG THANKS TO EARLY ADOPTERS!!


NEXT PRICE 110 $

Jesper Christensen  

New version has been publiced. In version 1.3 multiple money management models has been added.

You can now choose between;

1: fixed lots, 
2; fixed money amount, 
3: risk a fixed percentage of account balance or  

4: risk a fixed percentage of equity


Jesper Christensen  

Version 1.4 has been released. 

I have added a trade filter that exludes the expert advisor from trading through the Christmas and New Years bank holiday. 

Two additinal inputs have been added: 

1: First trading day of the year (default set to 10)

2: Last trading day of the year (default set to 350)

Both of these inpits are intergers (whole numbers). The number you input refers to the day number of the year. 10 = 10th of january etc. 


FOR EXISTING USERS: MAKE SURE TO UPDATE YOUR SET FILE!!

The new set file is attached here and has also been updated on the assisting setup guide blog post

Once you have loaded the new set file, you can change your money management settings. 


New set files coming the next days. Stay tuned:)

Jesper Christensen  
Jesper Christensen #:

Version 1.4 has been released. 

I have added a trade filter that exludes the expert advisor from trading through the Christmas and New Years bank holiday. 

Two additinal inputs have been added: 

1: First trading day of the year (default set to 10)

2: Last trading day of the year (default set to 350)

Both of these inpits are intergers (whole numbers). The number you input refers to the day number of the year. 10 = 10th of january etc. 


FOR EXISTING USERS: MAKE SURE TO UPDATE YOUR SET FILE!!

The new set file is attached here and has also been updated on the assisting setup guide blog post

Once you have loaded the new set file, you can change your money management settings. 


New set files coming the next days. Stay tuned:)

Before loading the new set file. Please delete all pending orders placed by the EA before changing the set file. 

Jesper Christensen  

Version 1.5 has been uploaded. In this version a comments panel has been added. 

The panel displays;

1: which money mangement system is used,
2: which set file is loaded
3: the magic number of the EA

This will help the user have a better overview of which set file is loaded on different charts, if the user runs several instances of the EA with different setfiles on the same symbol and same currency.


I have also released 3 new set files for EURUSD 15M chart. You can download the set files and read about the trade logic of each set file here: https://www.mql5.com/en/blogs/post/746535

Jesper Christensen  

I have been getting a lot of questions lately if the EA can be used on other FX pairs than EURUSD. The short answer is yes, but I do not recommend anyone to use the set files specifically designed for EURUSD on other pairs. I also advice against using the set files on any other timeframe than what the individual set files are designed for. 

I strongly recommend using the set files in a portfolio as explained on this page: https://www.mql5.com/en/blogs/post/746535

This system gets about 3 to 7 setups per week. If you use the portfolio of sets as I recommend, you will have roughly 7 to 30 trades per week on EURUSD alone. 

Jesper Christensen  

!!! IMPORTANT MESSAGE FOR ALL USERS !!!


I have updated the set files (https://www.mql5.com/en/blogs/post/746535)


The new set files give the EA a longer trading break during roll-over and high-spread hours to minimise the chance of being in positions during European night hours. 


PLEASE UPDATE THE SET FILES! TO DO SO FOLLOW THESE STEPS: 

If you have not yet updated to the current version 1.7, this is a good time to do so.

  • Make sure you have no open trades running!!
  • Turn off "Algo Trading" in your mt5 terminal. Click on the green "play icon" and it should change to a red "stop icon" to illustrate that EA trading has been turned off.
  • Delete all pending orders
  • Update the EA to the latest version (1.7)
  • Go to the EA settings and load the new set file for each chart you run the EA on.

  • Adjust your risk settings if needed and click ok.
  • Once you have updated all set files - click on the red "stop icon" so it turns into a green "play icon" to allow Algo trading in your mt5 terminal.
  • Check that the hat icon in the top right corner of each chart is blue (if it is grey, check my guide here: https://www.mql5.com/en/blogs/post/746496)
  • The EA should start placing pending orders shortly thereafter. 


Jesper Christensen  


First 10 copies has been sold. Price is now 95$.

Thank you to all early supporters!


Stefan Marjoram  
Excellent write up on your EA, i look forward to seeing how this will perform over time.
Jesper Christensen  
Stefan Marjoram #:
Excellent write up on your EA, i look forward to seeing how this will perform over time.

Hi Stefan, thanks for your support. Happy to have you on board:) 

William Tiberius Patrice Schulz  

Hi Jesper,

in your "P&L by hour" screenshot it seems like there is negative P&L in the tradinghours 22-01. Have you considered an option to disable trading in those hours?

Although its a high win-rate the equity drawdowns are quite heavy - any chance you can limit those? E.g. although there are only 3-10% loss trades, they can be between 30-50% of the GrossProfit.

Appreciate your hard work.

Thanks

DataWill

Jesper Christensen  
DataWill #:

Hi Jesper,

in your "P&L by hour" screenshot it seems like there is negative P&L in the tradinghours 22-01. Have you considered an option to disable trading in those hours?

Although its a high win-rate the equity drawdowns are quite heavy - any chance you can limit those? E.g. although there are only 3-10% loss trades, they can be between 30-50% of the GrossProfit.

Appreciate your hard work.

Thanks

DataWill

Hi DataWill, thanks for your support and comment. 

The negative P&L during the European night hours are due to trades that have been opened at an earlier time. The reason they are stopped out during those hours are mostly due to spread widening by brokers at these hours. This is just a part of the game that can't be avoided. The provided sets only open trades between 2am and 9pm GMT Monday through Thursday/2am and 6pm GMT on Fridays. All pending orders are deleted at the end of each trading session, so no positions are opened between 9pm and 2am GMT. 


Regarding DD and win-rate. The reason why I use several sets in a portfolio is exactly to avoid devastating losses. Although some of the sets might enter positions at the same price level, they all have different exit strategies. The exact entry level for a single setup can differ by a range of 4 pips between the sets, so most times some sets will have closed out in profit before price might reverse on the remaining open positions from the other sets. The worst case scenario where all 6 sets loose at the same setup has not happened in the 12 years testing period. Although unlikely, it is possible, and the day will surely one day come, but it is an extreme scenario with very low probability.

If you look at the sets, you will see that each set has a unique risk setting compared to the other sets. The risk setting of each set is carefully considered in relation to its own win to loss ratio and also to the other portfolio-sets risk settings and their win to loss ratio. 

Your estimation of potential DD is largely overestimated. In theory any strategy might go into a 50% DD, heck, in theory any system can make your account bankrupt.. We never know, that is just how trading is. 

But your calculation of how you come to that estimate is flawed, which is understandable, since you are new to the system and have not yet made yourself familiar with its trading- and money management logic. Yes, losing trades will be bigger than profitable trades, as explained in my assisting blog posts, but that is all calculated into the system as a whole. 

No strategy is perfect. I do not claim that PAM Scalper is perfect. In trading we need to make compromises. My personal psychology works best with high win rate systems. As a compromise I have to accept that losing trades will be larger than my winning trades. If I knew of a system that had both a high win-rate and a positive risk to reward ratio, of course I would use it. But I fear such a system simply does not exist. I am ok with making that compromise, as it fits my personality and psychology. 

As traders, I believe we must all find systems that work for us on a personal level. Some people prefer to have many small losses and then make up for those losses with a single trade with a huge R:R. That's just not for me. The reason why I have documented the trading logic of this system on my blog posts is for that exact reason. If someone does not like the trade logic of PAMS, they will at least know before having to pay for it.

Sorry for the long reply.

If something is not clear or if you have any other questions let me know!

Happy to have you on board!

Jesper Christensen  
Jesper Christensen #:

Hi DataWill, thanks for your support and comment. 

The negative P&L during the European night hours are due to trades that have been opened at an earlier time. The reason they are stopped out during those hours are mostly due to spread widening by brokers at these hours. This is just a part of the game that can't be avoided. The provided sets only open trades between 2am and 9pm GMT Monday through Thursday/2am and 6pm GMT on Fridays. All pending orders are deleted at the end of each trading session, so no positions are opened between 9pm and 2am GMT. 


Regarding DD and win-rate. The reason why I use several sets in a portfolio is exactly to avoid devastating losses. Although some of the sets might enter positions at the same price level, they all have different exit strategies. The exact entry level for a single setup can differ by a range of 4 pips between the sets, so most times some sets will have closed out in profit before price might reverse on the remaining open positions from the other sets. The worst case scenario where all 6 sets loose at the same setup has not happened in the 12 years testing period. Although unlikely, it is possible, and the day will surely one day come, but it is an extreme scenario with very low probability.

If you look at the sets, you will see that each set has a unique risk setting compared to the other sets. The risk setting of each set is carefully considered in relation to its own win to loss ratio and also to the other portfolio-sets risk settings and their win to loss ratio. 

Your estimation of potential DD is largely overestimated. In theory any strategy might go into a 50% DD, heck, in theory any system can make your account bankrupt.. We never know, that is just how trading is. 

But your calculation of how you come to that estimate is flawed, which is understandable, since you are new to the system and have not yet made yourself familiar with its trading- and money management logic. Yes, losing trades will be bigger than profitable trades, as explained in my assisting blog posts, but that is all calculated into the system as a whole. 

No strategy is perfect. I do not claim that PAM Scalper is perfect. In trading we need to make compromises. My personal psychology works best with high win rate systems. As a compromise I have to accept that losing trades will be larger than my winning trades. If I knew of a system that had both a high win-rate and a positive risk to reward ratio, of course I would use it. But I fear such a system simply does not exist. I am ok with making that compromise, as it fits my personality and psychology. 

As traders, I believe we must all find systems that work for us on a personal level. Some people prefer to have many small losses and then make up for those losses with a single trade with a huge R:R. That's just not for me. The reason why I have documented the trading logic of this system on my blog posts is for that exact reason. If someone does not like the trade logic of PAMS, they will at least know before having to pay for it.

Sorry for the long reply.

If something is not clear or if you have any other questions let me know!

Happy to have you on board!

And of course, if you have lower risk tolerance, simply lower the trade size/volume per trade for each set in your portfolio.. My recommended settings are not particularly "aggresive", but if a more conservative style is preffered, then it is easy to lower the risk settings accordingly. Hope that helps.

Jesper Christensen  

Once again a big thanks to all early supporters!

Price for the next 10 copies is 145 $

Safe trading!
Jesper Christensen  
Hi fellas, yesterday the EA entered 5 sell positions at a price level that turned out to be a strong support/reversal zone. Two positions were closed in small profit within a few minutes with the dynamic exit, one position from the 1H_PM set was closed out at a loss with its hard stop loss and we currently have two floating positions in DD, one opened by the 1H_PF set and one that was opened by the 15M_PMPF_1.

A few people have asked me if this is normal, or if they should close the floating positions manually. I advise you to simply let the EA decide what to do and not interfere with any of the trades that are opened and managed by the EA. Every position has a hard stop loss order, and that order is sent to your broker in the same instance that the pending order is placed. So in the worst case scenario, every position will be closed at a max loss of what you input in the risk settings. 

If you interfere with the EA, you can no longer rely on the statistical edge that is gathered from more than 17.000 trades since 2010.

If you are unsure if something is "normal" you can always refer to the monitoring signal I provide. It also shows floating positions. 

The position that closed at a hard loss was a 1H_PM set. As explained on my blog post that describes the logic of the sets, the PM sets have the tightest stop loss orders. These sets will lose more frequently than the other sets, but their winning positions are also larger in comparison. That is why their risk per trade is lower than the other sets. Yesterday we lost 1% on that position. Time will tell if the two remaining positions will also hit their hard stop loss. I hope not, but only time will tell.

I hope that everyone using the EA has read my "in-depth guide to the EA and the strategy it uses" and also my explanation of how the set files are designed. It is vital that you understand the logic of the EA, so that you don't panic when losses occur. 


Remember, losses will happen. It is an inevitable part of trading. Keep calm, have patience and let the system do what it does. 

If you have any questions or are in doubt of something, of course you can always reach out to me, and I will get back to you asap. 
Mr Pantawit Buthcham  
Jesper Christensen #:
Hi fellas, yesterday the EA entered 5 sell positions at a price level that turned out to be a strong support/reversal zone. Two positions were closed in small profit within a few minutes with the dynamic exit, one position from the 1H_PM set was closed out at a loss with its hard stop loss and we currently have two floating positions in DD, one opened by the 1H_PF set and one that was opened by the 15M_PMPF_1.

A few people have asked me if this is normal, or if they should close the floating positions manually. I advise you to simply let the EA decide what to do and not interfere with any of the trades that are opened and managed by the EA. Every position has a hard stop loss order, and that order is sent to your broker in the same instance that the pending order is placed. So in the worst case scenario, every position will be closed at a max loss of what you input in the risk settings. 

If you interfere with the EA, you can no longer rely on the statistical edge that is gathered from more than 17.000 trades since 2010.

If you are unsure if something is "normal" you can always refer to the monitoring signal I provide. It also shows floating positions. 

The position that closed at a hard loss was a 1H_PM set. As explained on my blog post that describes the logic of the sets, the PM sets have the tightest stop loss orders. These sets will lose more frequently than the other sets, but their winning positions are also larger in comparison. That is why their risk per trade is lower than the other sets. Yesterday we lost 1% on that position. Time will tell if the two remaining positions will also hit their hard stop loss. I hope not, but only time will tell.

I hope that everyone using the EA has read my "in-depth guide to the EA and the strategy it uses" and also my explanation of how the set files are designed. It is vital that you understand the logic of the EA, so that you don't panic when losses occur. 


Remember, losses will happen. It is an inevitable part of trading. Keep calm, have patience and let the system do what it does. 

If you have any questions or are in doubt of something, of course you can always reach out to me, and I will get back to you asap. 
It's painful to see negative results. But I still adhere to the principles described by the author. and believe that statistical values will take effect over time
fight together
Jesper Christensen  
God damn. Markets sure are crazy today. The current news on the new omnicron variant is making investors nervous and the banks are clearly using the panic as a means to manipulate the markets. Nevertheless. I think today's losses are a good experience for all users of PAM Scalper PRO. My hope is that all of you get very familiar with this system before putting it on a real account. The trades this week have been a live demonstration of what we were discussing a few comments earlier. 

5 positions were opened at what the banks used as a reversal point. 2 positions closed out immediately with small (as usual) profits. 2 of the 3 remaining positions hit stop loss at 1% and 2% loss respectively. The remaining position from the 1H_PF set closed out in profit after a heavy drawdown over almost 24 hours. 

So although 5 positions were opened at the same price area, only 2 hit stop loss. This is classic PAM Scalper in action. On the vast majority of setups, all sets that enter will close in profit within minutes. On some setups however, only some of the sets will close before price reverses, and the remaining positions will go into drawdown before closing at a profit later, or in some cases at a loss when the hard stop loss order is hit. 

The PM and PMPF sets will lose more often than the PF sets. On the flip side, the PF sets take very small dollar profits whereas the PM and PMPF sets take larger dollar profits. All the individual sets are designed with deep consideration of not only their own strategy, but the strategy of all the other sets of the portfolio that is currently recommended. 

----

If you look at the price action from yesterday and today, you can very clearly see that the price levels PAM Scalper PRO uses to enter are key areas that the banks are using to swallow up liquidy from smaller institutions and retail traders, and which is the exact market insufficiency this EA is taking advantage of. 

A hard floor or support level was made around 1.12597 with a double bottom on the 1H timeframe during the London session yesterday. I was looking at the charts while the price action was forming and it was very clear that there was heavy buying from large pools right at that exact price level. For every tick price went below that area, a fast and determined push of price followed. 
Seeing that, and knowing price had established a low at 1.11860'ish and had since broken the high at 1.12750'ish, it was getting clear that price would not break the floor and a bullish trend was imminent. The bullish rally that started during the NY session yesterday and lasted all through Asian session and today's London session, with no real pullbacks make it so clear to see what is happening behind the scenes. 

What is interesting about that price move of yesterday and today is, if you look at where price hit a ceiling, at 1.13761 and what happened next, it becomes very clear that these levels are pre-determined and are not random. Price took out plenty of liquidity above the 4H resistance at 1.13731 where also PAM Scalper hat it's pending orders ready and made a small profit on. Right after that pool of liquidity was swept up by the market makers, price tanked right back down to the pool of liquidity where we got stuck with the positions from yesterday and swept up more liquidity that was pooling at that area. Price dropped 150 pips in one hour. Was there some news behind it? Surely, but the news-releases are only used as force to drive the market to where the market makers want price to go. They need these pools of liquidity to get in and out of their huge positions. 

Anyway, I just thought I would take advantage of this week's price action to make it more clear what the logic of this EA is, and hopefully make you more confident using it in the long run. 

Safe trading everyone!
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