GoMega Xray Forward Tests

Decided to make a quick video to show Gomega Xray in action. Gomega Xray ended the week with a balance of $6980.77, which is a bit down from last weeks high. However just looking at the balance is quite misleading, as there are many trades that were still open at the close of trading for the week. I believe a more relevant number to look at, is the current equity balance, which is now at $8059.24. After all, if I were to manually exit all the trades, this would be the approximate 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 representation for 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 simply to illustrate an approximate equity balance curve. As the only equity balance data I have, is from the detailed reports generated by Metatrader and I’ve only been generating those once per week. It would be great if there were a plugin for Metatrader that would log the equity balance at regular intervals and render a nice graph at the click of a button.

You will notice the red dots are not spaced evenly, as Metatrader plots the x axis on a per position closed scale, not on a constant time scale. So the distance between the dot 5 and 6 from the left, is just one week. That is the week before last, which had been a very active week for Gomega Xray. During that week, the large disparity between the account balance and equity balance became glearingly obvious. While the account balance was in decline 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 with Xray trading right in front of you, you can see this phenominon in action. Which is what motivated me to make the latest video.

Also see my Gomega GBP JPY Review to see Gomega GBP JPY in action

Technorati Tags: gomega gbp/jpy autotrader, gomega pound yen, gomega review, profit targets, trailing stops

Tags: gomega gbp/jpy autotrader, gomega pound yen, gomega review, profit targets, trailing stops