Gomega Xray was also trading the Pound Yen and had been in the trade since the week before. Just now Gomega Xray exited its position in the GBPJPY at a profit of $704.52. Leaving it with an account balance of $7686.72 and an equity balance at $8850.

Click Here for my Gomega GBP JPY to see Gomega GBP JPY in action

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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

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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

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This has prompted me into extending my testing. Currently Gomega is running on a demo account at Alpari. However Quantum Research recommend FXDD as the broker where Gomega performs best. As I have been wanting to test Gomega both with and without a trailing stop, I’ve decided to setup 2 new demo accounts with FXDD. These again will be configured with the default settings. And I’ll start publishing the first results this weekend.

So now there will be 3 Gomega demo accounts to follow.

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Gomega Xray put in a solid performance on totally hands free, and managed to increase the equity by about 16% in the last week.
Currently Gomega is trading with the default settings on a Alpari demo account. Starting with a balance of $5000 almost 3 weeks ago, it ended last week with a balance of $5802.

It would appear that Gomega performs very well when the market is trending strongly. Of course it had a few losing trades as well, some of which had been strongly in profit but didn’t quite make the “take profit” threshold before the market’s direction turned. I’m considering starting a second demo account which would run the default settings but with trailing stops. It would be interesting to compare the performance against the current setup which has no trailing stops, just a standard stop loss. Gomega’s performance so far has been very good in terms of overall profit. Very impressive.

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The pairs being traded are, EUR/USD, EUR/GBP, GBP/USD, CHF/JPY, USD/CAD, USD/CHF.

Profit settings are relatively high at between 250 and 750 PIPs. The amount being risked on each trade is 1% and the average reward to risk ratio is 4,

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Just recently a number of low power PCs have become available based on the new Intel Atom CPU. While computer hardware enthusiasts may tell you that these tiny computers are not powerful enough to do any serious work, I am of the opinion that anything that offers better performance than the first generation Centrino platform, deserves another look.

The Asus EeeBox seemed a good choice to try out this idea and I decided to purchase the EeeBox B202 which consumes less than 30 watts of power in total. Under the hood is the Intel Atom N270, 1GB of DDR2 RAM and a 160GB hard drive. My system came with Windows XP and was pretty much ready to run Metatrader right out of the box. The other nice feature of the is tiny PC is that it can be attached to the back of an LCD screen using the VESA mounting (ever wondered what those screw holes in the back of your LCD screen were?). You can drive up to 2 screens, with a maximum resolution of 2048 by 1536 each. That should be enough for most people. I’m using it with a single screen at 1680 by 1050. It could also be used with the new HD screens which have a resolution of 1920 by 1080.

Firing it up with Gomega Xray

So would the Metatrader 4 platform and Gomega Xray be too much for this tiny energy efficient PC. I installed Gomega Xray and setup the six currency pairs as described in the Quantum manual. Then checked the CPU utilization while the system was actively trading on a demo account.The maximum load as displayed by the windows task manager was 5% and the average is around 2%. So this is definitely a viable system to trade 24 hours a day with on autopilot.

Just to try and stress the system a little, I tried burning a DVD while watching a video file, all with Gomega trading in the background. The system was running at comfortably at 25% CPU usage. While I don’t recommend using your system to do anything other than running your EA, it is good to know there is processing power to spare with this system. As a side note, rapidly moving the mouse around causes CPU usage to spike up to 38%. Clearly Microsoft have done little to optimize their code for such a basic fundamental task.

The installation instructions for Gomega Xray are thorough and easy to follow, arranged in a step by step format. There are also setup videos that walk you through the initial setup and configuration of Gomega, including the recommended settings. This must be one of the easiest install and setup. While there is a some new terminology to deal with such as “Market Pulse”, “X Spread” and “Randomness” indicators, these too are thoroughly explained in the “Under the Hood” video, which is part of the setup guide.

While it is customary to get stuck in and start back testing Expert Advisors first and then forward test. I have opted to let it run on a new demo account and observe it in action. I downloaded Metatrader direct from Metaquotes.net and setup a $5000 demo account with Alpari. I then setup Gomega Xray according to the instalation instructions. This was about 12 hours ago and Xray has so far opened 4 trades on different currency pairs and the current position is a $148 profit. These trades are all still open so a lot could happen before Gomega closes the trades at the either the profit target or the stop loss setting. However it is quite a good start and I’m looking forward to checking the situation in the morning.

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Over the next few days, weeks and months, I will be testing and documenting Gomega Xray in action. This is likely to be the most thorough review of Gomega you may find. The journey will begin with a discussion on the choice of hardware to host Gomega Xray, then on to the ease of configuration and a summary of the setup steps needed to be up and running. Then the testing will begin, the emphasis will be on forward testing and initially using all recommended settings. Later I’ll begin to experiment with additional custom settings as I become more acquainted with the system.

It promises to be a fascinating journey and I am very excited to begin testing just as soon as the latest update of Gomega Xray becomes available.

If anyone has any comments, questions or suggestions, please feel free to post your comments.

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