Decided to make a brief video to show Gomega Xray in action. GomegaXray 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.
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.
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.
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