Momentum EA

Just want to say: Don't believe in past history.

Very poor trading result.

Consistently losing money for almost a year now.

It's heartbreaking to give this EA a negative review as I know how hard Wim has worked and for the professional support provides all users.

However, after running Momentum EA in full conservative mode for over a year at lotsize step 3000 (on IC Markets, AUD account, so MaxDD expected ~40% when backtesting at beginning of the year) I currently sit at 80% DD after a year well worse than the backtests. For this reason I have to give a 2 star rating. 1/5 for EA performance and bonus star for Wim's support.

The last 4 months have been worse than terrible - will still run at reduced risk on the remainder of my balance in the hope 2019 is more kind... If performance improves I will update my opinion

*Update 6 Apr 2019:

So far in 2019 performance has continued to deteriorate to the point where I have had to cease trading the EA for now. Will re-consider if there is a significant update in the future.

It`s been well over half of year of me using Momentum EA, so I think it`s time to write a review regarding its performance.

You may wonder why I gave it 4 stars when you look at the monitoring accounts (all of them are with large DD`s and the majority are underwater). My reasoning is that Momentum can make you money if you put the necessary efforts. It utilizes Volatility breakout which is a well proven strategy (there are some good university papers around if you are interested). The problems are 2:

1. The last year has been very tough for this kind of strategy;

2. Not all pairs seems to be working well with it;

So, I did a little exercise - turned off auto settings and ran optimizations for 10+ years for both strategy A and B for each pair (usually up to mid 2015) and then tested on out of sample data the sets which had at least 130-150 trades. Unfortunately, for the majority of pairs the optimized sets gave completely random performance on out of sample data (2003-2005 and 2015-2018). However, if you do that exercise with EURUSD M15 Conservative Strategy A and EURUSD H1 Aggressive Strategy A and B - almost every optimized set continues to be profitable on the out of sample data (and only few of them were flat). You can also easily see my point if you look into the Statistics tab on the performance of the monitoring signals.

So Momentum EA is worth it if used on the above sets/strategies.

P.S. EURAUD, GBPUSD and EURCAD (startegy A on various TF`s) also appear to have potential...

Since a few weeks this EA works on my Real money account. It's a great EA with, and this is a real good thing again, a lot of possibilities of different settings. Since this EA runs on my Live account, it produces money, real money and i don't understand people they just giving 1 or 2 Stars for this EA. Including the very helpful support this EA deserves 5 Stars at least.

Update 18/11/2018

As i feel responsible of my rating which can have influence of the idea of a trader for this EA i'm convinced to need to do a downgrade of my rating i did before: i don't do that because of anger or fury but as summary of the functioning of this EA which created a DD of about 30% in my Live Account by using conservative settings within the last 4 months. I will update my rating within 3 months as i'm still believing that this EA get's a better time again.

Update 2019.05.20

Finally, it has to be said that this EA has a lot of settings and so it offers an incredible number of possibilities to create a personal portfolio, which is profitable even now in May 2019. It took me a long time to understand the real value of this EA, it is the raw diamond among the MQL5 EA's and I can only recommend to anyone to try the free demo in backtests! Absolute 5-star product!

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Trade rules are very simple.But it is very profitable.

Perhaps it will be useful for a long term.

The reversal deal is very powerful.

Even if the first position becomes SL,the reversal position will recover the loss.

Update: King of Unrealized profit.We always need to think about profit taking.

Update: I think it is necessary to reverse the direction of the position and TP and SL.

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2018 05 02 update: Well time to put this back to 5 stars. This EA certainly have gut wrenching strategy to watch. We had a pretty good sideway market for couple of months, which slaps this EA around real hard, you can check author's signal. However, you can reduce the drawdown a bit if you do your own due diligence by selecting pairs/ strategy/ set to run, at the cost of reduced profitability. 2018.02.06 16:38 1. This EA will easily fill-up 200 orders (active and pending), if you have 200 orders limit and plan to run this EA together with other EA, do not use aggressive or ultimate setup; 2. Do your homework and try to find best setup that suit your style. Ultimate setup is not the only setup; 3. Author is very professional and gives quick support; 4. Although this EA has not made any profit for me yet (currently its in DD period Dec 2017-Feb 2018),but i think i found a right setup for me and should recover soon. 3 stars for the support and professionalism of the Author, Since i only run this EA for a month, its too soon to judge if this EA is good or bad, considering its a long term EA.I will update again in a few months. 2018 09 14 update: I still hate watching this EA trade, but the EA works. 2020 08 20 update: sorry..but i think this EA cannot cope with the current market..i stop using it awhile ago

Works for a great variety of pairs and for several timeframes, real trading shows excellent results, author is passionate and updates frequently!

You ought to make your own due dilligence, apply the sets you feel comfortable with, see:

https://www.mql5.com/en/market/product/17257#!tab=comments&page=113&comment=6989227

Update: I had high hopes for this EA, but after running the Ultimate portfolio for over 2 months I think its time to stop the bleeding and give this EA and my account balance a rest. DD in excess of 30% over a short period of time is a bit too much to bear. Problems that I see is not being able to hold onto profits when they arise, and getting stopped out prematurely only to see the trade run in our favor. I have noticed on occasions that the SL is placed incorrectly - just where the stop hunters would look. Also, the profit targets are trying to reach beyond obvious Support and Resistance levels which means TPs are harder to come by. I do appreciate that increasing the stop loss and reducing the TP targets may not be optimal for overall performance but robustness of strategy should take precedence over "optimized" profits. Obviously, I am deeply disappointed with these results, but I believe the author is highly skilled and dedicated and I am hopeful that if the EA does not quickly recover, solutions will be found.

Update 30/3/18: See my comment #2241 - Have the solutions been found? Is it too early to get back in the water....?

Bought this EA, was running default settings (conservative mode) for over a month now. It's burning money at an astonishing rate. Loses, loses, loses. And more loses.

Removed from real account, but will keep an eye on how it does on demo. Even it recovers - it's trading style is hard to live with.

Here to strenghen the review given by Aussie_Trader: developer appears skilled and very open to support, but as for the product itself I actually, running fixed lot 0,01 Aggressive mode, am at an ashaming minus 33%. Like Aussie_Trader stated, SL are too close to entry point and TP are too far from it. This generates always a positive difference between Equity and Balance but the sum of the closed trades (mostly by SL hitting) in a day is negative. Maybe it's time for developer to optimize it, in the meanwhile I removed.

Some month ago I have lefted a very bad review about MomentumEA, because I got a big losses over some thouthand dollars during. But now I have changed my opinion: MomentumEA good system if you adapte it for yourself. First of all, you haven't use all pairs and strategies - over half of pairs (I have lefted only 5 pairs for second strategy) have a very bad results in longterm.

#Update 19 / 12 / 2017 - Main problem of a system - it's a very low quality of entries. It wait for a impulses and trend moves over 200+ pips. At another market conditions just losses =( Wim's signals in stagnation or losses too... By backtests over 50% of pairs (by strategy A) and over 90% pairs (by strategy B) - unprofitable and unstable at longterm. We have be carefully with the Momentum...

Conservative settings have maken EA more stable and safety. So now I have a stable 2-3% per month since July (0.01 lot per $10 000) and now it's correlated with the backtests.

I am using MomentumEA since the March 2017 and I am still cannot cover Drawdown.

P.S. I cannot understand why this EA #1 at market. Perfomance is a very bad, there are no any correlation with the backtests:

https://www.mql5.com/ru/market/product/17257#!tab=comments&page=105&comment=6250730

# UPDATE

Don't believe Aussie_Trader - he lie: At all modes only losses (Agressive, Conservative, Ultimate): check Wim's signals. Very bad period for the system =(

Look no further than Wim's products. If you're after long term profits and not short term, buy Wim's

His support and response is gold!

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Vr5.0 is GOOOOOOOOOOD!

I'm using this EA's since january 2017. I can tell you It really is one of the best "long term" EA's I've tried so far. This EA's does exactly what it said it will. Wim is nothing else than awesome. He is professional and gives very good support if you need it. I'm also using his "GBPJPY Price Action EA" ... This one works really good too. Nice job Wim, keep it this way.

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Time to re-evaluate the EA: Bringing two stars back up to five.

19/10/2017 After initial hick-ups and extended stagnation periods, Wim has continued to improve this EA and new version 5.0 and conservative settings give good probability of profitable performance going forward.

Excellent Support. Honest seller!

H1 and M30 normal risc are stable and profitable in backtest and live. M5 and M15 in conservative risc are OK too. The best EA I have found so far, and I have tested a lot.

thx

Great developer, highly professional, in the market from long time and here to stay. Great support. The EA has a very solid strategy behind and is showing on many real accounts the ability to make profits.

很多时候，市场是不公平的。维姆是正确的，需要时间和耐心。感谢良好的支持！

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same as below, loss after loss, slowly taking all your money for more than 6 months , Wim doesnt bother to reply to my message, not sure what has happened. The EA opens on single pair 19 long and 17 short trades, this is not good enough to make profit. I was fooled again, also with modeling quality in % as attached in description also with other Wims products... one star for trying Wim..

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TERRIBLE EA! Every year Wim has an excuse about why it's not performing well. Don't waste your money. Look elsewhere.

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very good

Very profitable EA. Wim is very professional developer. Top EA on MQL5.

Wim's help and support is excellent.

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As I understand it, the positive feedback this has worked well in the past (a good test), and, in the opinion of the Creator in the future (long term expert) )) Like a real user of this EA, can report about the real picture of the present time: earns a month, for a week and loses even more. If the Creator of the EA right about the long term, rent is not suitable at all! Extend the lease at current losses will look like attempt to win.

This EA is the best I've ever seen. I have developed EA's, and I do know that the only way to create a profitable one is to have dynamic entries and exits which Wim coded beautifully. Most of the haters are expecting a strategy which never loses. Wim's EA does have losing streaks, but in the end it is a very profitable strategy. And Wim is very patient and answers all questions you may have.

Is a serious realistic EA with realistic backtests in H1 especially. I recommend it. It´s many difficult search one EA and author like this and it´s many difficult that I put 5 stars for one EA

UPDATE 13/09/2018: In addition an excellent, fast and resolutive support. Do not listen to the lying comments

Hello everyone,

I have been seeing some negative comments regarding this EA and I would like to share my experience.

Firstly, if you have thoroughly back tested the system and then started to get wildly differing result while running it live, you have a reason to be pissed off or angry with the product. If you did not do your due diligence with testing the system, you have no reason to be angry. It is your fault for not testing and finding what the largest draw downs, losing streaks, ect are.

Before I purchased the EA, I did extensive testing with it in the backtester to figure out if it was really worth my time and money. I found that if I ran it on only one pair, EURUSD H1 and only strategy 1, the EA would produce results that were within my appetite for risk. After purchasing it, I retested to make sure my results were similar and I found no major differences. For the testing, I ran it with a $5000USD account and a 0.10 Lot size so that each pip would be worth $1 USD and I ran the tester on every tick to try and be as accurate as possible. Therefore, I could determine the pip values for each period I tested then apply my own money management after. I am going to post a spreadsheet of my monthly results below. Notice that if you were to run the whole test from Jan,1,2000 to the date in which I stopped, the total amount is off by about 400-500 pips. This is my margin of error that resulted in testing each month Individually and not just testing the period as a whole.

If you have any question, comments or concerns, dont hesitate to ask. These results are my personal testing. Please do your own testing and dont copy my results.

https://docs.google.com/spreadsheets/d/1ul2Zs7IpGFHloAI6XmhtfO4V78rZ8zWYmUleUevKmek/edit?usp=sharing

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I rented this for three months. Wim offers no support. The EA will look good on the backtest but on a live account it will just lose your money. It opens multiple trades for the same pair in both directions hoping to catch a trend but the trade will always hit the stoploss.

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More and more posters are catching on about the poor results of this EA. Here is my experience on both live and demo accounts.

The reason it's on sale is because it's results aren't as promoted in the unrealistic back testing (which is always the case, not just for this EA ), but also the mediocre live fx book results (a fluke period perhaps?).

My experience after purchasing this product for US$750 is the same as plenty of the other commenters who have experienced sustained losses with this software. Let me explain......

The losing trade rate was typically around 95%. In its best week it maybe lost only 75% of trades. I ran it for almost 2 weeks on a live account and it chewed through $700 using confirmed settings and autolot sizes. After this it was switched to a demo account for the last 3-4 weeks and its loss rate hasn't improved (using only the H1 "less risky" setting) any and it has chewed through another $2000 of fake money at least now.

The claim that this software hunts down strong price movements is only correct in that it will pile on trades to price movements that have already happened, expecting that there'll be a bigger trend (it relies on the mega movements that shock the markets every few weeks or so). In reality what happens is it opens trades at the peak of a movement (or trough) and then with the inevitable pullback all of those piled on trades tap out on the stoploss. It is claimed that the software can be controlled to only have two trades open per currency pair (that is you flick off strategy two), I have not found this to be the case with it opening 3,4,5 trades late into a price movement and then all tapping out. It typically magnifies losses in uncontrollable manner, I can trade manually better than this thing and have since recovered my losses with signal services and my own trading.

With the strategy that sets up staggered buy stop and sell stop orders, it even ended up opening a buy and a sell order on the same currency pair simultaneously at the top and bottom of a channel (it supposedly doesn't do hedging). The type of price movement needed to make such trading profitable would be like winning the lottery.

The live FX books results show a four-month period where it was profitable (this must be a fluke period). Have a close look at those results and see that 85% of the total profits in a four-month period were accumulated on just seven days. That isn't the results of an algorithm that is working well, it's essentially relying on market shocks and piling trades on late to possibly get by in the long run.

I wasn't expecting it to be magical, but I did expect it to function with a winning trade rate that is at least within the same order of magnitude as is promoted in the backtesting and fx book results (call me crazy).

Watching this thing trade is pure chaos, like a monkey is hitting buy/sell orders on the keyboard. You will pull your hair out watching it pile on trades late into a price movement that you know is about to pullback.

This guy talks a great game but don't let him pull the wool over your eyes and claim that changing lot sizes is going to affect the viability of an EA that typically has a loss rate of 90+ percent of trades. No amount of account management will sustain such a loss rate. And don't let him tell you that "it's the markets fault" for not moving much this week when it opens a tonne of trades late into a price movement that pullback and tap out. I wasted 750 USD, don't even bother renting it.

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I lost today as much as I gain in the last week.

Worst ever, i have lost 300$ today!!!!!! i want my money back.

Hi all

I trade since 8 years ago in forex, as much of the people at begging I already passed the dream phases where I believe that few usd cost scalping EA or few eur martungale systems could have made me rich in few time.

Thanks to had suffered more than one full account blowing I quickly realized that to achieve reliable long term results in trading is an hard work in any case !

1) If you want to do it manually you need to lear a lot about strategies and tactics and stay in front of you compututer at least few hours/day.

2) If you want to use automatic trading system, then it is not less hard because there you will find tons of "fantasic promises" that at least 99% of the cases will not be kept or will have hidden risks, and this means may be you will see very nice profit for few days or few weeks or even few months, but some morning you will wake up and will find your balance at zero.

Then I choose the second option and decided to really learn how to evaluate a trading system.

After this several years study, I am able to select very few (but excellent) EA to put in my portfolio, trading live account and see my profit grown month after month.

A selected Momentum EA as one of my most favorite EA in my portfolio, and want to share with you the most important point in my checklist that Momentum EA passed and, according with my experience, this are the key points to secure, first of all really control of the risk and be sure I can always forecast the maximum drawdown that I am prepared to accept, second, as logical conseguence, I will see my profit expectations fullfilled. These checklist aim not only to see the profit potential but, more important, the stability od teh results in the past that is the most logical metrics to keep expectation for the future.

I suggest who is considering to buy sume EA to check if it fullfill the ALL the following points.

I did it with hundreds of EA in mql5.com market and Momentum EA is the only one that mach all !!!

So as a christmas gift to all of you that will avoid you to avoid lose money in buying not good EA, to avoid you to lose a lot of money in using not good EA and will you to realize why Momentum EA is a really professional trading system where you can keep serious expctation for the future.

Checkpoints:

- it is not scalping

- it is not martingale

- never add to loosing positions

- Profit Factor in Pips is almost similar to Profit Factor in USD

- forward test results in terms of pips and USD are close with tick by tick backtest results (difference less than 10%)

- backtest with open bar results in terms of pips and USD are close with tick by tick backtest results (difference less than 10%)

- average trade duration > 1 hour

- average pips/trade > 10

- average pips of winning trade divided average pips of loosing trades > 2

- SQN1 on 10 years backtest: average pips/trade divided standard deviation pips/trade > 0.2

- SQN2 on 10 years backtest: average pips/day divided standard deviation pips/day > 0.2

- SQN1 and SQN2 calculated every year 2 years never goes below 0.1

- Montecarlo yearly_profit divided Montecarlo max drawdown calculate on 10 years trade results is > 2

- Montecarlo yearly_profit divided Montecarlo max drawdown calculate on 10 years daily results is > 2

- MaxExposure (max number of open trades at the same time multiplied max pips lost in losing trade) < max Montecarlo daily drawdown

- The seller believe in his product and, as logical conseguence provide reasonble rent price and reasonable signal price

- The seller provide good and quick support

- The seller is the developper directly

In coonclusion I want to adda than for me Momentum EA fullfilled all these points already with verion 2.9, with the new 3.0 versione and great improvement on H1 timeframe, Wim did an even better job an all the previous parameters now are even much better the minimum required threshold.

So it is up to you decide if Momentum EA is for you or not, but I am sure it is great for me and I need to thanks Wim one time more for his great job.

Happy new year to all of you.

So far so good. An impressive EA, but the most outstanding thing is Wim's help and support in getting it up and running, his quick responses to queries.

Unrivaled professionalism along with a very solid product.

Patience paid off good..a good EA. I made at least 10x of the price I paid..Wim has been very nice and extremely supportive.

Simple but effective strategy and great support by Wim!

This is best EA.

Seems to be very good on the longterm

Absolutely Superb! Wim really knows his stuff, and this one is making good consistant gains with low DD. I've already made back the purchase price. Thanks for the great support

and for making such a great EA.

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Great support and communication from Wim as always!

The author gives support in time, I will be according to the performance of the EA, adjust my evaluation