Momentum Trader EA

Here are some stats from my custom coded Forex Momentum Trader. If anyone is interested in more details, just drop me a PM

No Martingale or other "tricks" used. Low risk, high probability trades. Uses stops, unlike others.

hey bumasoft..... you have done a great job here..........

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sometimes if we are given enough trades we can figure out the system..... you have given us plenty..... spent a good bit today studying your trades on a chart.....

there is no doubt in my mind the results you have posted are from a momentum based ea.... they are accurate are far as the correct price and bar.... they are accurate as far as your trigger.....

it appears you attempted to run a backtest starting from 1/1/2009 to 2/26/2010..... you either used a new demo from last week or only recently downloaded the maximum number of available historic bars in a live ibfx account..... cause the number of 15 minute bars in your backtest matches perfectly with the maximum number available from ibfx last week..... so in no way was the data fiddled with, it's perfect.....

everythings appears genuine and as you say "no tricks".....


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it's almost not worth mentioning, but in real life that trailing stop might not be as smooth..... of course you know that......

one thing did confuse however, Uses stops, unlike others .... was that a typo, it looks like it uses stops like others......

in any event, you have done a great job..... truely wish ya the best......h

Hi there, hayseed

It wasn't a typo, there are robots that do not use stop loss orders and claim that they do not lose. Just Google for "forex robot no loss" and you'll see what I'm talking about. And that's not the only one that doesn't use stops.

You are right, I used my IBFX live account to backtest this. If you figured out the system, that's cool . I hope it helps. Thanks for all your good comments.

Cheers,
Victor

+150 pips GBPJPY
+100 pips GBPUSD
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Total this week: +250 pips

GBPUSD and GBPJPY pretty much ranged today (tuesday), so my EA didn't take any trades. Looking forward for tomorrow's session.

Finished this week with +350 closed pips and +95 floating over the weekend. Good riding on the NFP this Friday!

Buma ... commercial members cant PM... Can you provide the details here

Oh, I didn't know that. Well, here's some general info first.

The only indicator used by my EA is the Heiken Ashi Smoothed indicator to gauge the M30 trend. Then it takes signals on the M15 chart based on a self-coded algorithm, in the direction of the M30 trend. The Heiken Ashi is only used to filter the signals and only take the trend trades. However, you have the option of disabling that and ignoring the upper trend. It still makes profit and the only difference is a better hit rate on the trend trading technique than the trend ignorant one. This is a momentum EA, so the upper trend is not so important, as it just goes with the "flow".

It works best on GBPJPY and GBPUSD. Also, on EURJPY it's a trend catcher, banking +400 pip trades, but with a bigger maximum drawdown, since it uses a 100 pip stop loss, so you have to withstand 3 or 4 losses in a row sometimes after you get into a big one ( see a 1 year EURJPY statement here: http://marianbusoi.com/eurjpy/StrategyTester.htm ). On other pairs, I would suggest you experiment with different SL/TP/TS settings and see what works best. I would recommend you just run it on GBPJPY and GBPUSD (and maybe USDJPY, as I have done in my live testing). In good months, these two alone can bring you over 1500 pips. Currently, it has only been tested for one week on my live account, banking +350 pips and +95 floating over this weekend, with secured stops.

As for the price, I am thinking of opening up a website soon, where you can either get a subscription (say 50$ a month, 100$ per 6 months and 200$ per year) or buy a non-expiring version, which I would sell for 500$. I know it sounds much, but... I've checked out a lot of 100-150$ EA's, bought them and they suck at it

If you're interested in buying it let me know. If you'd like to wait until the website is launched, then drop me a comment at http://howdoyouforex.com/ on that post about my EA.

Best of luck!

How do you have backtests if it's an impulse follower?

It measures impulse from price action, how else would you measure it? It's a personal algorithm that works the same on backtest as it works on a live test. Or, to say things differently, I don't use tick data or speed measurements, just close data of past candles to measure momentum. It is a new approach to momentum. I'm not saying more than that

Lol momentum averaged by the close prices? OK I recommend you offer a thorough trial version before people have to pay, for your own sake

lol. Have you ever seen the EAs being sold online? This beats everything I've seen and had the curiosity to buy.

First of all, the momentum is not averaged at all. I did not tell you how I'm using the close prices. You are expecting me to tell you the whole algorithm? I'm sorry, but that's not possible. You would hire a programmer and copy it and it's my work, which I require to be paid for. Plus, I'm not one of those dudes that sell an EA just because they can't make money in Forex. I need the money to put up a bigger deposit and if someone likes this EA and wants to make money with it, I don't see why I shouldn't be paid for this, since it is my work and my sleepless nights trying to figure it out.

I'm tired of people just trying to receive everything freely without ever working or without respecting other people's work. Sorry for being so harsh, but that's the truth...

Best of luck to you

Friday's floating positions have been closed, GBPUSD long for +100 pips and USDJPY for +18 pips. I am counting these with the previous week, since they were opened on Friday.

So, total for first week of live testing: +470 pips.

lol. Have you ever seen the EAs being sold online? This beats everything I've seen and had the curiosity to buy.
How did you beat them sorry? Your backtest is more what? Reliable??

First of all, the momentum is not averaged at all. I did not tell you how I'm using the close prices. You are expecting me to tell you the whole algorithm? I'm sorry, but that's not possible. You would hire a programmer and copy it and it's my work, which I require to be paid for.
A whole lotta assumptions there mate. The swiftly triggered paranoia being quite worrying when coupled with the above insisted bias of your own EA being the best thing you've ever seen since sliced bread. All a big red flag to most people.

You are expecting me to tell you the whole algorithm? I'm sorry, but that's not possible.
I asked you for algorithm? Tell me where and I will aplogise, unless you got me asking about the concept misconstrued with asking for the total logic behind the EA.

You would hire a programmer and copy it and it's my work, which I require to be paid for.
Why would I hire one when I would just buy off you for the same price???

Plus, I'm not one of those dudes that sell an EA just because they can't make money in Forex.
Ok you're not
I need the money to put up a bigger deposit and...
Wait you are??


I'm tired of people just trying to receive everything freely without ever working or without respecting other people's work. Sorry for being so harsh, but that's the truth...
Sorry for being so harsh too, but the truth is you shoot people down for asking simple questions about your EA (hint: big red flag). Therefore you sound extremely flawed, and I doubt anyone will ever send over money to you. So fine, use your EA to make money, but then your intuition is also questioned as you really think you can prove it as a viable option by simple backtest gif images (even on your site). Even greater red flag there, but also a cause for concern regarding your personal potential for making money from the EA yourself.

Best of luck to you
Yeah

Yesterday I bought and I am very excited about the system and to see it work. From what I've seen and I have checked my chart transactions are correct. I will post once I start making money

Great first post zorro. Congratulations

How did you beat them sorry? Your backtest is more what? Reliable??

I presume you haven't had the curiosity to test any EAs. Yes, my backtest is a lot more reliable. If an EA does not work on backtest, how would you expect it to work for you live?

A whole lotta assumptions there mate. The swiftly triggered paranoia being quite worrying when coupled with the above insisted bias of your own EA being the best thing you've ever seen since sliced bread. All a big red flag to most people.

Swiftly triggered paranoia? Wow! Man, I've coded this, it's normal that I should be thrilled with it, after backtesting EA's that were marketed as great Wall Street secrets, when all they could do is lose consistently. Wouldn't you be thrilled? I'm not saying this is the best thing since sliced bread, but, hey, it's the best thing I'VE SEEN AROUND. Can you point me to the spot where I said it's the best thing since sliced bread? Talk about exageration!

I asked you for algorithm? Tell me where and I will aplogise, unless you got me asking about the concept misconstrued with asking for the total logic behind the EA.

As you know (or should know), the best things in life (and that includes business) are simple. For you to not draw some weird conclusions about this, I would have to tell you the coding algorithm, since that can be described in one phrase. It's as simple as that. If I tell you I'm using close prices, I think it might be a little bold to say that I'm "averaging momentum".

Why would I hire one when I would just buy off you for the same price???

I'm pretty sure it won't be the same price. You can just visit RAC and code it for 100$. As I've said, the idea is simple, I've just spent a lot of time figuring it out.

Ok you're not
Wait you are??

In a way I'm not (I am confident about this EA being profitable), and in other ways I am. I don't earn thousands of $$$ every month like other guys, so I need to find other ways to fund my account with a decent amount of money. I don't see anything wrong in that. Or is there?


Sorry for being so harsh too, but the truth is you shoot people down for asking simple questions about your EA (hint: big red flag). Therefore you sound extremely flawed, and I doubt anyone will ever send over money to you. So fine, use your EA to make money, but then your intuition is also questioned as you really think you can prove it as a viable option by simple backtest gif images (even on your site). Even greater red flag there, but also a cause for concern regarding your personal potential for making money from the EA yourself.

Well, I'm sorry you feel that way, but keep in mind that in my first post, the backtest statements are attached in an archive, it's not just a few gifs, you actually have trades there. Plus after 1-2 months of testing on my live account, I will release the statements for everyone to see. And more than that, everyone that buys it will have 60 days to get a refund if they're not satisfied (I'll do that through clickbank). I'm not trying to shoot people down, I'm just not into ironies and people trying to get other people's work for free and if they can't do that, ironize it. If this conversation did not include LOLs and ironies from square one, maybe we would have had a decent one.

Cheers

Any thoughts backed up with statements are welcome once you have them available. If by any chance you won't be satisfied in 60 days, just let me know and you'll get a full refund.

Thank you again for purchasing!

I presume you haven't had the curiosity to test any EAs. False assumption
Yes, my backtest is a lot more reliable. False again
If an EA does not work on backtest, how would you expect it to work for you live? There are backtests which actually result in loss when the EA made profit for the exact same time period. Think about that

Can you point me to the spot where I said it's the best thing since sliced bread? It's an expression. You said it's the best you've ever seen. Same thing

I'm pretty sure it won't be the same price. You can just visit RAC and code it for 100$. That's an obviously flawed and paranoid state of being...why would I want to pay to try and replicate it if I can get you the money for a more guaranteed service.

In a way I'm not (I am confident about this EA being profitable), and in other ways I am. I don't earn thousands of $$$ every month like other guys, so I need to find other ways to fund my account with a decent amount of money. I don't see anything wrong in that. Or is there? Nope but it's been heard before so many times. Which is why I recommended a trial for your own sake -> more signups in the medium-long term.

If this conversation did not include LOLs and ironies from square one, maybe we would have had a decent one. What LOLs? Don't make things up. Not good for business

False assumption
False again

Ok

There are backtests which actually result in loss when the EA made profit for the exact same time period. Think about that

I know there are, but believe me I have backtested this many times over those periods and there are no differences.

It's an expression. You said it's the best you've ever seen. Same thing

No, not same thing. It's the best I'VE ever seen, which could very well be true. I'm not telling you it's the best thing in the whole world, it's just the best thing I PERSONALLY have seen.

That's an obviously flawed and paranoid state of being...why would I want to pay to try and replicate it if I can get you the money for a more guaranteed service.

Ok, I will presume you're right, though I'd prefer you stop using words like "paranoia" with regards to my state of being. I come from Romania and the usual mentality here is why buy a software when you can crack it or pay someone to do it cheaper. If I've been judging you through my experience with romanian people and I've done you wrong, then I appologize.

Which is why I recommended a trial for your own sake -> more signups in the medium-long term.

I'm not offering a trial, I am offering a 60 day money back guarantee, through clickbank. Which, in my opinion, is the same thing. If you're not satisfied, you get your money back and I disable your software. Simple.

What LOLs? Don't make things up. Not good for business

I quote: "Lol momentum averaged by the close prices? OK I recommend you offer a thorough trial version before people have to pay, for your own sake".

That was your third post, if I'm not mistaken. Please don't call me a liar, because I'm not. Can't we just turn this into a constructive discusssion?

Thanks