It was a interesting week for my installation of Gomega Xray and perhaps for most automated trading systems. I have had Gomega Xray trading a $5000 demo account at Alpari since April 21st, and it started the week with a balance of $6188. During the week it suffered 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 standards is the cross currencies strength for each of the pairs being traded. This is one of the factors that gives Gomega an edge when determining whether to enter a trade. However it is a two edged sword. If the market direction changes and goes against Gomega, Gomega will likely have many tiny losses in a row as the stop losses are triggered. Naturally the opposite is true when Gomega is on the correct side of a market swing, the result being many 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 by 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 before. And as the Euro continued to strengthen throughout the week, Gomega’s equity position continued to grow, even 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 one month.
While the weeks trading did not produce a pleasant smooth balance curve, the final result is still extremely inspiring. If only Metatrader were in a position to show an equity curve that included the equity balance, it would be better to visualise the real progress of the trading through the week. Another limitation of the Metatrader charts are that the horizontal axis is constructed on a closing trades basis rather than a fixed unit of time. So the end result is a somewhat distorted view.
Follow along here for latest Quantum Gomega Xray Live Trading Results
Mail this post
Tags: forward test, gomega tests, live results, trading results
Leave a Reply