Momentics User Guide: Everything You Need To Know To Become A Profitable Trader Using Momentics
Momentics User Guide: Everything You Need To Know To Become A Profitable Trader Using Momentics
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March 29, 2013
Out of the $4 trillion that flows through the Forex markets each day, it is estimated that banks
account for half of that. Consequently, retail traders like you are at a huge disadvantage trading
in the Forex. One of the only ways to bridge that gap is by using the same strategy that the banks
do…and that’s where Momentics comes in.
Momentics is an inside look into how and when major banks take their trades. You won’t get this
kind of insight from any other trading software! Mike Swanson, our lead professional trader,
spent years programming trading systems for a large Swiss Bank before establishing TradeWest
Forex. Now, he has developed Momentics for use in your own home.
About Us
TradeWest Forex solutions are developed by our own in-house group of programmers,
mathematicians, and professional Forex traders. At the head of this group is professional trader
Mike Swanson. At the age of 18, Mike was busy developing back-end trading solutions for large
banks and Forex brokers. After a few years of experience, he used this knowledge to develop his
own trading systems and software based upon what he had learned. After taking some time to
build the TradeWest Forex team, he decided to release his most sought after software to date:
Momentics.
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Chapter 1 How to Use This Guide
As with all of our software, we develop our solutions to be as intuitive and easy to use as
possible. Our goal is to make Momentics so simple, that any trader could load it onto their chart
and instinctively know how the trading strategy works.
With that said, we highly recommend reading through this User Guide to develop a deeper
understanding of the features of this software, and how to use them to your advantage.
This user guide can be utilized with, or without an active internet connection. If you do have an
internet connection, note that there are clickable links throughout this PDF that will open up a
webpage with supporting information, such as:
• Video Walkthroughs
• Supersized Images
• Social Media Pages
• Contact Information
• And more!
These links can be identified through blue underlined text, and/or a pointer finger ( ) when you
hover over them.
Orange boxes (as displayed below), can contain additional information or tips/tricks that support
the content on the page.
If you have any questions about this document or software, please contact us through one of the
methods displayed below.
Contact Us
We love to interact with our customers. Whether you have questions, want to provide some
feedback, or just want to chat…we want to hear from you! Feel free to reach out to us using one
of the contact methods listed below…
EMAIL SKYPE
[email protected] tradewestforex
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Chapter 2 Standard Installation
If the “User Account Control” dialog pops up for Windows, click “Yes”.
You should see the “Welcome to the Momentics Setup Wizard” screen. Click “Next”.
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Click the “Install” button to begin installation.
Enter your TradeWest Forex login credentials. If you have forgotten, click the “Resend
Password” link.
Note: Your credentials may be automatically verified, in which case the installer will skip this step.
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Select the MetaTrader folders you would like to install Momentics to. The list will
automatically search portions of your Desktop, C:\ Drive, and Program Files folders.
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Select the platforms that you would like to open to complete the installation process.
Note: You may also close the installer without opening any platforms.
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THIS CONCLUDES THE STANDARD INSTALLATION CHAPTER
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Chapter 3 ZIP Installation
In case you encounter issues with the traditional installer file, we have also compiled a ZIP file
that you can use to install Momentics to your platform. Due to the manual nature of these steps,
we highly encourage you to try the installer before using the ZIP version. Failure to copy all files
into the correct folders will almost certainly cause functionality issues.
These instructions assume that you have already downloaded the ZIP file, and have MetaTrader 4 installed.
Extract all of the ZIP file contents. This can typically be done by right-clicking the ZIP
file, and selecting “Extract All”.
Open the extracted contents of the ZIP file. You should see the following files and
folders…
o experts/indicators/Momentics.ex4
o experts/libraries/twest.dll
o profiles/TradeWestForex - Momentics/chart01.chr
o profiles/TradeWestForex - Momentics/chart02.chr
o profiles/TradeWestForex - Momentics/chart03.chr
o profiles/TradeWestForex - Momentics/chart04.chr
o profiles/TradeWestForex - Momentics/chart05.chr
o profiles/TradeWestForex - Momentics/chart06.chr
o templates/ TradeWestForex - Momentics.tpl
o mt4gui.dll
o mt4gui2.dll
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Highlight all of the files and folders inside the extracted folder (listed above) by pressing
Ctrl+A on your keyboard. Alternately, you can hold Ctrl on your keyboard, and left-click
each file/folder individually…or, using your mouse, click and drag a box over all of the
files/folders. The end result should look like the following image.
Right-click the highlighted files, and select “Copy”. Alternately, you can press Ctrl+C on
your keyboard.
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Navigate into your desired MetaTrader Folder. By default, MetaTrader folders are
installed to your C:\Program Files or C:\Program Files (x86) folder. The contents of
your MetaTrader folder should look similar to the image below.
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Right-click inside your MetaTrader folder and click “Paste”. Alternately, you can press
Ctrl+V on your keyboard. Our ZIP file is structured so that all of the files will copy to the
correct location.
You will receive a “Confirm Folder Replace” dialog. Select the “Do this for all current
items” checkbox, and then click “Yes”. Do not worry…this will not overwrite any of
your existing files.
You may also receive a “Copy File” confirmation if you have previously installed TradeWest Forex
software. If this occurs, select the “Copy and Replace” option to ensure you are using the most up-to-
date files.
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If you receive a Windows “Access Denied” message, make sure you select the “Do this
for all current items” checkbox, and then click “Continue”.
The files that were once in the ZIP folder should now be in your MetaTrader folder. The
mt4gui.dll and mt4gui2.dll files should be immediately visible in your MetaTrader folder.
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THIS CONCLUDES THE ZIP INSTALLATION CHAPTER
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Chapter 4 Startup
Now that you have Momentics installed, it is time to attach it to your MetaTrader charts. We
have created a template to make this process very straightforward. Using this method, you can
get Momentics on your charts in just three clicks!
Start out by opening MetaTrader, and load a chart that you would like to trade with.
Remember, Momentics works with any pair or timeframe! If you need assistance with
this step, we recommend that you watch our Forex 101 session on MetaTrader Basics.
Verify that your broker connection is active. There should be green bars in the bottom
right corner of your platform.
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Right click on the chart of your choice, select “Templates”, and then select
“TradeWestForex - Momentics".
Momentics should now be on your chart. If the boxes or corresponding numbers aren’t
entirely visible, you can click and drag the vertical scale on the right side of your chart.
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THIS CONCLUDES THE STARTUP CHAPTER
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Chapter 5 Settings
Once you have it on your chart, Momentics is ready to go! There aren’t any parameters that
need to be changed since this system is truly dynamic. With that said, we have built in some
customization options for those of you who would like to change the look and feel of
Momentics.
These instructions assume that you already have Momentics attached to your chart.
The Momentics settings can be viewed from the Indicators List within MetaTrader. Right
click the chart that you have Momentics attached to, then select “Indicators List”.
Alternately, you can click Ctrl+I on your keyboard.
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Click on the “Inputs” tab to view all of the available parameters.
The following is a description for each of the parameters available. Once you have made
your desired changes, you can click the “OK” button to save your settings.
If you would like to share your trading results with fellow Momentics
CreateNickname
traders, you can enter a nickname here.
Enable_Sound_Alerts Turn on/off audible alerts when boxes appear
Turn on/off e-mail notifications (must also have MetaTrader options
Enable_Email_Notifications
for Email notifications accurately filled out and enabled)
Turn on/off the moving red line that will suggest when to exit when
Show_Trailing_Stop
you are in a profitable position
Turn on/off arrows that will signify the price that must be hit for
Show_Potential_Entry_Prices
another box to display
Allow_Auto_Update Turn on/off the automatic software updater
Connect Momentics with pipStat by entering the Unique ID from your
pipStat_Unique_ID
pipStat settings (only available in full version)
BuyBox_color Color of the boxes that indicate a buy trade
SellBox_color Color of the boxes that indicate a sell trade
BuyLines_color Color of the lines/text that indicate targets
SellLines_color Color of the lines/text that indicate stops
Entry_Arrow_Buy_color Color of the arrow that indicates the entry price of a buy trade
Entry_Arrow_Sell_color Color of the arrow that indicates the entry price of a sell trade
Entry_Arrow_Size Size of the arrow that indicates the entry price of a trade
Chart_Background_color The background color of your chart
Chart_ForeGround_color The text/star color of your chart
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THIS CONCLUDES THE SETTINGS CHAPTER
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Chapter 6 Trading with Momentics
When a box appears on your chart, you will be alerted automatically by Momentics (by
default, you will also receive an audible alert).
Once the box has appeared, you will want to enter as soon as you can. Entering a trade
late may cause you to miss a good portion of the move, so we don’t recommend entering
a trade midway through a box unless there are good indicators that support your decision.
In this case, we have a blue buy box. A pink box would indicate a sell trade.
It is recommended that you enter your stop and target according to the numbers shown at
the red and blue lines, respectively. Using the example above, we would enter in a stop of
26 pips, and a target of 29 pips.
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As the trade progresses, we recommend scaling out a portion of your trade at each of the
four blue lines inside the box.
Note: Scale out targets are only available in the full version of Momentics.
If you move into profit, you may see the red trailing stop line adjust. If price crosses this
line, we recommend exiting or scaling out of your position.
If you are still holding onto a position once 14 bars have passed and a new bar has been
created outside of the box, we recommend closing your position.
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For a complete diagram and list of what you see on your charts with Momentics, we have
compiled this Usage Key for your convenience.
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THIS CONCLUDES THE Trading CHAPTER
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Chapter 7 Performance Data
We have gotten a lot of inquiries asking which pair and timeframe Momentics works best on.
The simple answer is: all of them. The banks are looking across all pairs and timeframes in
search of solid money making opportunities. They don’t care what pair or timeframe they trade
on…so why should you? We threw Momentics onto almost every possible pair and timeframe
combination, and the results were remarkably consistent. Here’s some performance data
spanning 5 years to prove it.
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Chapter 8 Disclaimer & Terms
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of
leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully
consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a
loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You
should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial
advisor if you have any doubts.
Clearly understand this: Information contained within this document is not an invitation to trade any specific investments.
Trading requires risking money in pursuit of future gain. That is your decision. Do not risk any money you cannot afford to
lose. This document does not take into account your own individual financial and personal circumstances. It is intended for
educational purposes only and NOT as individual investment advice. Do not act on this without advice from your investment
professional, who will verify what is suitable for your particular needs & circumstances. Failure to seek detailed professional
personally tailored advice prior to acting could lead to you acting contrary to your own best interests & could lead to losses
of capital.
NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES
SIMILAR TO THOSE SHOWN.
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THANK YOU FOR USING MOMENTICS!
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