Quantum Wizard EA Review – An In-Depth Analysis

Quantum Wizard EA is marketed as an advanced automated trading tool for indices like the Dow Jones and Nasdaq. It claims to offer unparalleled accuracy and performance through its innovative trading strategy. But does Quantum Wizard live up to its bold promises? This comprehensive review analyzes its features, trading logic, backtests, live performance, and more to determine if it’s worth the investment.

Quantum Wizard EA

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Overview and Marketing Claims

Quantum Wizard EA is positioned as a cutting-edge solution for traders looking to diversify their portfolios through indices trading. Specifically, it trades the US30 (Dow Jones) and Nasdaq indices on the M5 timeframe.

The vendor makes the following claims about the EA:

  • Delivers unmatched accuracy and consistency in indices trading
  • Uses an innovative, never-before-seen trading strategy
  • Protects all trades with a tight 30 pip Stop Loss
  • Exits profitable trades trailing stop
  • Operates during active New York stock market times
  • Quite active, with potential for multiple trades per day

These claims seem almost too good to be true. Let’s analyze Quantum Wizard’s features, trading approach, backtests, and real account results to determine if it delivers.

Features and Functionality

Quantum Wizard EA has the following notable features:

  • Indices Trading: Focuses exclusively on the US30 and Nasdaq indices, not forex. This provides portfolio diversification.
  • Defined Risk Management: Uses a fixed 30 pip SL and trailing stop exit to limit losses.
  • Time-Based Trading: Operates during active New York session for US indices.
  • Auto-Lot Sizing: Automatically calculates optimal lot sizes based on account balance.
  • Backtesting Capability: Allows backtesting in MT4/MT5 to evaluate performance.

At first glance, these features seem appealing. However, upon closer inspection, there is little innovation here. Tight stop losses, trailing exits, and auto-lot sizing are now standard elements in many EAs. And backtesting ability is more of an expectation than a standout feature.

So while the features seem adequate, they do not appear to be unique or groundbreaking.

Trading Strategy Logic

According to the vendor and user reviews, Quantum Wizard trades based on the following logic:

  • It places buy and sell trades based on undisclosed technical indicators or price action patterns.
  • The EA enters trades exclusively on the M5 time frame for both US30 and Nasdaq indices.
  • All trades use a fixed 30 pip stop loss order for risk management.
  • Profitable trades exit using a trailing stop with undisclosed logic.
  • The EA incorporates an auto-lot sizing function to determine position sizes.

Unfortunately, the actual entry and exit logic remains a mystery. The developer does not reveal the specific technical indicators or price action triggers used. This lack of transparency is concerning.

Also, relying solely on a tight 30 pip stop loss seems inadequate for indices trading when looking at recent volatility. And the trailing stop exit methodology is unclear.

Overall, there are too many unknowns around the trading strategy logic to properly evaluate it.

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Backtest Results

Limited backtest reports are available for Quantum Wizard EA. A 2 year backtest on US30 M5 shows the following performance metrics:

Total Net Profit: $23,630 Max Drawdown: 2,120 (8.9%) Profit Factor: 2.31

These backtest results seem mediocre at best for a 2 year period. An 8.9% max drawdown hints that the 30 pip stop loss is not always respected. And a profit factor barely over 2 is not impressive.

More transparency into the backtesting conditions and settings would be needed to further analyze these results. But at face value, the backtests are underwhelming and do little to validate the supposed accuracy of this EA.

Live Performance Results

According to the vendor, Quantum Wizard has achieved the following real account results:

Account 1 Profit: $3,280 Drawdown: $460 Duration: 2 months

Account 2 Profit: $1,120 Drawdown: $272 Duration: 1 month

While these results look decent, a sample of only 2 short-term accounts makes it difficult to judge sustainability. More account histories over longer periods would be needed to adequately gauge real-world performance.

Also, the absence of details around broker, spreads, settings used introduces more uncertainty. As it stands, the limited live results are not sufficient to demonstrate accuracy or consistency for this EA.

Pricing and Support

Quantum Wizard EA is sold through the MetaTrader Marketplace and directly from the vendor’s website.

MQL5 Listing Price: $220 Vendor Website Price: $99

The pricing seems reasonable compared to many other EAs. One license allows use on one live account, with unlimited demo accounts.

Included with purchase is a user guide and access to the developer’s Telegram support channel. No free trial is available however to test before buying.

Who Is It For?

Based on its features and performance, Quantum Wizard EA seems most appropriate for the following users:

  • Traders focused on indices rather than forex: The exclusive focus on Dow and Nasdaq indices helps diversity portfolios.
  • Those with schedules aligned to US market hours: The EA trades actively during the New York session only.
  • Less experienced traders needing basic automation: Provides a hands-off approach to indices trading.
  • Accounts with at least $500 minimum capital: This allows reasonable position sizing.

Overall however, Quantum Wizard EA caters to a narrow segment of traders. And even for those traders, it offers little groundbreaking functionality.

Pros and Cons

Pros

  • Focuses on indices trading rather than just forex
  • Uses some form of stop loss and trailing stop
  • Incorporates auto-lot sizing for account protection
  • Reasonably priced compared to many EAs

Cons

  • Lacks innovation in features or functionality
  • Entries and exits based on undisclosed logic
  • Mediocre backtest results at best
  • Limited transparency into live account results
  • Caters only to accounts over $500 and US session

Verdict

Quantum Wizard EA fails to deliver on its lofty promises of unprecedented accuracy and performance in indices trading. While it offers some useful baseline features, there is little innovation in its functionality.

The unknown entry and exit methods along with mediocre backtests raise red flags. And the short-term live results do little to prove consistency or profitability.

Overall, Quantum Wizard EA appears to be an average indices focused automated trading solution at best. Its lack of transparency and unimpressive performance makes it difficult to recommend over other available EAs.

Traders are likely better served by more established automated trading tools with longer verifiable track records. Quantum Wizard EA lacks the historical proof and innovation in logic to justify the investment for most traders.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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