GOMEGA Review » Gomega GBPJPY

Gomega Pound Yen Progress Report

admin — Thu, 04 Jun 2009 11:48:43 +0000

Its been a very volatile week for the Pound Yen. While it hasn’t been a good week to showcase the profit potential of Gomega GBPJPY, it has turned the unique smart stop loss feature into a star performer. The “Trailing Semi-Parabolic Stop Loss” as it is referred to by Gomega, has been able to safely exit the trades when the market has spiked against its position. So in spite of the choppy conditions, Gomega GBPJPY is still sitting in profit for the week.

Gomega GBPJPY will only enter a trade during an 8 hour window when the market has the most liquidity. That being the end of the Asia trading session and the start of the London session. This is considered the best time to trade in this currency pair and Gomega GBPJPY has been very consistent at always getting on the right the market trend. It then monitors the market conditions and manages the exit strategy on every tick, 24 hours a day. So even when the market is as volatile as it is at present, it was still is able to exit with precision.

Overall I am very impressed and looking forward to more normal trading conditions next week and a good solid perfomance by Gomega GBPJPY.

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Technorati Tags: Expert Advisors, forex trading, gomega, Gomega GBPJPY, pound yen, Trailing Semi-Parabolic Stop Loss

Gomega GBPJPY Even Better Live than Back Tests

admin — Mon, 01 Jun 2009 00:55:40 +0000

Gomega GBPJPY Live Results are Even Better than Back Test
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The back tests on Gomega are good but the live results are even better. I’m not really a big believer in back testing, simply due to the fact that the amount of data available for the EA to work with, is tiny at just around 1% to 2% of the real time live data ticks. Even when using the 1 minute time frame for 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 well did Gomega GBPJPY do in the back test? I ran the test across the same time period as the live results. Which start from Oct 5, 2008 through to April 10, 2009. Beginning with an account size of $5000, the Gomega GBPJPY back test finished with a closing balance of $8174 which is a gain of 63%. This compares well to the live results from Gomega clients. One client began live trading on September 2 2008 starting with a balance of $10,000. And by April 6, 2009, the balance stood at $19,909.24. A gain of 99% for the 7 months. You can see Andreas, from Switzerland, talks about his Gomega settings for trading the Pound Yen. Another client traded with a $5000 demo account over the same period which hit a closing balance of $14,608.67 by April 3, that’s a gain of 192%. And Greg Surowiec traded a live money account starting on October 5th, 2005 and by April 10 was at $12,811.01 or a gain of 156%.

Here I’ve taken the chart from the back test and superimposed it over the live result charts (Sean, Greg). I then color coded the balance curves so it would be 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 back test results.
You can find more information about the GOmega GBPJPY at GoMEGA Pound Yen Review.

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GoMega GBPJPY Tests Continue

admin — Fri, 29 May 2009 11:46:32 +0000

Just a quick update to my last post. In this Gomega GBPJPY video we can see a trade in action, Gomega has just opened a new long position in the Pound Yen. The little green arrow indicates the point at which the trade was opened, the dotted green line shows the buy price and the dotted red line is the current stop loss position. Gomega GBPJPY uses a smart stop loss algorithm, which it will move upwards as the price closes in on the profit target. It will also move it up if the price falls, so this trade at the very minimum, break even.

For a detailed commentary of all the indicators shown on the Gomega GBPJPY chart, I recommend seeing the full video walk through by Quantum Research, this can be found here Gomega GBPJPY Under the Hood. Although the chart is full of detail and looks rather overwhelming, all the complexity of analyzing the various signals, is handled automatically by Gomega GBPJPY. However at the same time, by looking at the chart indicators, you do have a window on the advanced analysis that is taking place in the background. You get the feeling you are looking under the hood of a high performance sports car.

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Technorati Tags: automated forex trading, forward testing, Gomega GBPJPY, gomega video, opened trade, profit target, smart stop loss, trailing stop