Decided to make a brief video to show Gomega Xray in action. Gomega Xray ended the week with a balance of $6980.77, which is a little off last weeks high. However just looking at the balance is a little misleading, as it does not account for the many trades that are still open. I believe a more relevant number to look at, is the current equity balance, this is now at $8059.24. Of course, if I were to have manually closed out all the trades then this would would then be represented in the account balance.

It is unfortunate that the Metatrader platform isn’t able to include the equity balance detailed report chart. This, along with the account balance, would provide a far better profile of the trading performance.

To illustrate this point, I’ve decided to plot the equity balance onto the account balance chart. Each red dot shows the end of week equity balance. The green line is a simple approximation of the equity curve. As the only equity balance data I have, comes from the detailed reports generated by Metatrader and I’ve only been producing those once per week. It would be great if there were a plugin for Metatrader that would log the equity balance and draw a detailed graph with the push of a button.

You may notice the red dots are not spaced evenly, this is because Metatrader plots the horizontal axis on a per closed trade scale, not on a constant time scale. So the distance between the 5th and 6th red dot from the left, represents just one week. That was the week before last, which had been a very active week for Gomega Xray. During that week, the large discrepency between the account balance and the equity balance became abundently clear. While the account balance fell for much of the week, the equity balance was flux but generally rose. Which would suggest the equity balance is a fairly good indicator of the future account position. This also makes sense as the equity balance includes the current open trades, many of which are likely to be closing in on their profit targets. Of course when you have the sofware trading right in front of you, you can see this effect, first hand. Which is what motivated me to make the latest video.

Also see my Gomega GBPJPY Review and Back Tests, Forward Tests and Live Results

Here’s a quick update to my previous post. In this Gomega GBPJPY video you can see Gomega has just opened a new long position in the Pound Yen. The point at which the trade was opened is shown by the little green arrow, the dashed green line is set at the buy price and the dashed red line is the current stop loss position. Gomega GBPJPY uses a smart stop loss algorithm, which it will move upwards as the price closes in on the profit target. It will also move it up if the price retraces, so this trade at the very minimum, break even.

For a thorough explanation of all the indicators displayed on the Gomega GBPJPY chart, I recommend seeing the very thorough video walk through by Ken Herbert, which can be found here Gomega GBPJPY Under the Hood. Although the chart is very detailed and looks rather intimidating, all the complexity of the signal analysis, is handled automatically by Gomega GBPJPY. However at the same time, through the indicators on the chart, you have a window on the in depth analysis that is taking place in the background. It gives you the feeling you are looking under the bonnet of a high performance sports car.

You can read more on the Gomega GBP JPY AutoTrader at GoMEGA Pound Yen Review.

Since Tuesday I’ve been running forward testing with the lastest Gomega GBPJPY Autotrader. I setup a demo account at Forex brokers FXDD starting with a balance of $5000. using the exact settings as it was preset with by Quantum Research. Gomega GBPJPY only trades during the second part of the Asian market session and first part of the London session. So far it has opened 2 positions, both were orders to buy. As trades progress, Gomega GBPJPY intelligently modifies the trailing stop.

The Gomega GBP JPY trades on the four hour chart and only open new trades within an eight hour period each day. This begins with the second half of the Asian session through to the first half of the session in London. This may seem to be very restrictive but it has proven to be the most profitable time frame and period for Autotrader to trade the GBP JPY.

The results so far: With the initial trade, Gomega GBPJPY adjusted the trailing stop as the market rose but when the market retraced, it exited the trade for an end result of zero gain and nothing lost.

The next trade followed a similar pattern, however the market moved higher before retracing. Once again the trailing stop was triggered and Gomega GBPJPY exited with a small profit.
Click Here for my Gomega GBP JPY Review and Back Tests, Forward Tests and Live Results

Gomega Pound Yen has been designed to follow a strategy of consistent, steady gains, for the long term. The initial forward tests are very good and indicative of what we can expect from trading with Gomega GBPJPY. Tomorrow I’ll be running some back tests as well, to get a clearer picture how well Gomega GBPJPY performs. Quantum have already published live trading results from their clients who have been trading Gomega Autotrader for the last 8 months. So we already know that Gomega GBPJPY is very profitable on the Pound Yen pair.

Quantum research are so confident with the profitability of Gomega GBPJPY, they are including a full one year profit guarantee for their clients. “At minimum, you will at least double your account size within a year or your money back”. That is an impressive guarantee and just shows how extremely confident Quantum Research are with their automated trading system. You can see the full details of the guarantee on their sales page when Gomega GBPJPY opens for sales next Monday at midnight. In the mean time, they summarize it in their blog and in their most recent video titled “The Offer Guarantee & More“.

The only problem I can see with Gomega GBPJPY is that there is only a 3 day window in which to purchase this software. I’m sure many people will learn of Gomega GBPJPY after the sales period closes. However this is always the case with the Gomega automated trading software. So if you do miss out on this launch, then I highly recommend you join my mailing list, to be sure you don’t miss out next time. You can find more information about the GOmega GBP JPY AutoTrader here GoMEGA GBPJPY Review.

Why You Can’t Retire In 4 Years!

So what’s wrong with retiring? If you have plenty of money to enjoy a sufficiently comfortable lifestyle or at least maintain the quality of life you are accustomed to. Then retirement is great! Of course for most of us, the thought of retiring is just something in the distant future. Something to squirrel away a little nest egg for, so we can enjoy the golden years of lives.

Wrong! In the current economic climate, retirement may be closer than you think, forced early retirement that is. As for that nest egg you have been working so hard to accumulate. Let’s not talk about the 401K scandals, housing market crash, credit crunch, stock market collapse, looting of investment funds, trillion dollar bank bailouts with your future tax dollars rewarding well connected white collar (I’ll let you fill in the blank). In short, a complete economic meltdown. And lets not get into finger pointing over who authorized corporate subsidies to export your work overseas.

These are some of the multitude of reasons why you may never be able to retire and enjoy your life, follow your passions and fulfill your dreams. These are all reasons why you will likely be working to the end of your days to make money for some corporation or perhaps worse.

This doesn’t have to be your reality. Your life can and should be different but you have to make the choice. So lets talk about how you could retire and enjoy all life has to offer. And how this could be achieved within just four short years.

In spite of all the doom and gloom from the corporate media, there is one thing you should know. Money is never destroyed, it merely changes hands. You can either exchange your time for some money or you can exchange money and free your time. The biggest market for money in the world is the foreign currency exchange market or FOREX. Over US$3.2 trillion in foreign currencies from around the world are traded every business day of the week.

If only there were a way to take part in the Forex market with an automated system, that was capable of profiting from price variations in currencies, 24 hours a day. Well there are many automated trading systems that do just that. The best of them can make money consistently month after month. Gomega Xray is an excellent example of a high end automated trading system.

While it is not possible to purchase Gomega Xray at this time, there is a new and extremely valuable release coming from the creators of Gomega. In a week from now, Quantum Research will release a new version of their very popular GOmega Autotrader FX. This newest release of Autotrader is named Gomega GBPJPY or Gomega (Pound Yen).

Gomega GBPJPY specializes in trading the Pound Yen, currency pair. This pair of currencies has been very profitable for many Gomega users, some have even made their live trading accounts available to Quantum to display on their website. Jonathan and David present a Four Year Retirement Plan based on the compounding profits possible just by trading on autopilot using Gomega GBPJPY from a starting balance of just $5000. At the current rate of profit, within 4 years, the account would be over $1,200,000. Which is why they are calling this the 4 Year Retirement Plan.

Quantum meet a Gomega Autotrader client in Switzerland

Last week Ken Herbert Snr. and Jonathan Herbert of Quantum Research presented a video with one of their Swiss clients, who had almost doubled the balance on his live trading account in seven months, trading the GBP/YEN currency pair and on auto-pilot using Gomega AutoTrader.

More Pound Yen Trading Videos from GOmega

A new video has now been released where Ken Herbert Snr and Jonathan Herbert show you the inner workings of the Gomega GBPJPY Autotrader. This is a fascinating presentation and essential viewing for anyone considering investing in Gomega GBPJPY or simply trading this currency pair. The video goes into great depth showing the signals and indicators Gomega GBPJPY uses in determining when to open or exit a trade. If you are new to Forex then this may be a little intimidating, however the best part is that Gomega GBPJPY takes care of all this complexity for you, you only need to set few inputs for example Risk per Trade, Stop Loss and Take Profit preference.

The GoMega GBPJPY Under the Hood, is a very interesting presentation that not only takes you inside of Gomega GBPJPY but through a trading week with the Gomega GBPJPY also, and I thoroughly recommend watching it at least once if not 3 times.

Go to the Official GOmega Site

Click Here for a Gomega GBP JPY Review to see Gomega GBP JPY in action

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Its been a exciting week for Gomega Xray forward tests and perhaps for most automated EAs. Gomega has been trading a $5000 demo account with Alpari since the 21st of April, and it started the week with a balance of $6188. During the week it took a number of successive loses drawing its account balance down to well under $6000. Yet at the same time its equity balance was hovering around $7000. So on the one hand the results didn’t look so good at first, it was in a very good position overall.

Part of the explanation behind the string of losses in my opinion is Gomega Xray trades multiple currency pairs and one of the entry factors is the cross currencies strength for each of the pairs being traded. This is one of the factors that gives Gomega an edge when calculating whether to enter a position. However it is a 2 edged sword. So if the market direction changes or goes against Gomega, Gomega will likely have many little losses in a row as the stop losses are hit. Naturally the opposite is true when Gomega is on the right side of a market swing, the result being multiple giant wins in a row.

This is exactly how last weeks trading had been. Gomega found itself on the incorrect side of the market movement a couple of times as well as some positions that were peaked out as a result of some major news events. Those news events without doubt had sent a cascade of stop losses rippling across the markets. Perhaps a great oppurtunity for a dedicated manual trader? However regardless of this, Gomega was still in the trade on many positions since the start of the week and earlier. And as the Euro continued to strengthen throughout the week, Gomega’s equity position continued to grow, though its balance was down.

By the end of the week, Gomega had closed out many positions it had been holding and finished the week with a balance of $7296 and equity of $7478. So that was a gain of $2296 or 45% in less than 1 month.

While the weeks trading failed to produce a nice smooth balance curve, the end result is still very impressive. If only Metatrader were in a position to show an equity curve that encompassed the equity balance, it’d be better to visualise the real progress of the trading through the week. Another limitation of the chart s produced by Metatrader are that the horizontal axis is constructed on a trade by trade basis rather than a fixed unit of time. So the end result is a somewhat distorted view.
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