GoMega Xray in Action

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

Filed under: Forex Auto Pilot Software

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