It seems that someone from a Forex beta test group has leaked information on their advanced trading methods.

There is one video up there so far but more are likely to be there soon.

I’ve been forward testing the new Gomega GBPJPY since early last week. And although it has been very consistent at anticipating the current market trends on trades it has entered, is was exited early when the market retraced before advancing further. Resulting in a net gain of $45.76 profit for the 3 days it traded.

Gomega Xray was also trading the GBP JPY and had been in the trade since the week before. Just now Gomega Xray has exited its position in the Pound Yen at a profit of $704.52. Sending the account balance to $7686.72 and an equity balance at $8850.

Click Here for my Gomega GBPJPY to see Gomega GBPJPY in action

Click here for the GoMega GBPJPY Website to see Gomega GBPJPY in action

The back tests on Gomega are very good but the live results are even better. I’m not a big fan of back testing, simply because the amount of data available for the EA to work with, is tiny at only around 1% to 2% of the real time live data ticks. Even when using the 1 minute time frame as the data source, each tick is just and average value based on the 50 to 100 ticks that may have existed in real time. In other words, back tests are poor substitutes to live trading.

So how did Gomega GBPJPY perform in the back test? The test was run across the same time period as the live results. Which start from October 5, 2008 through to April 10th, 2009. Starting with an account size of $5000, the Gomega GBPJPY back test ended with a closing balance of $8174 or a gain of 63%. This compares very well with the live results from Gomega clients. One client began live trading on September 2nd 2008 with a starting balance $10,000. And by April 6, 2009, the account had reached $19,909.24. A gain of 99% in just 7 months. You can see Andreas, from Switzerland, talk about his experience trading with Gomega and the settings he uses for trading the Pound Yen. Sean Hummel ran a $5000 demo account over the same period and it reached a closing balance of $14,608.67 by April 3, that’s a gain of 192%. And Greg Surowiec traded a live money account of $5000 beginning on October 5th, 2005 and by April 10th it had reached $12,811.01 or a gain of 156%.

Here I’ve taken the back test result chart and superimposed it over the live result charts (Sean, Greg). I then color coded the balance curves to make it easier to compare the results. The blue line is the live money account, the green line is the forward demo test and the orange is the from the back test.
You can find more information about the GOmega GBPJPY at GoMEGA Pound Yen Review.