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

With the initial trade, the stop loss setting was adjusted by Gomega GBPJPY as the market rose. Then when the market retraced, it exited the trade at no profit and nothing lost.

The second trade was very similar, however this time the market moved higher before falling back. Once again the trailing stop was triggered and Gomega GBPJPY exited with a small profit.

Gomega GBPJPY trades on the 4 hour chart and only opens new positions during an eight hour window every day. This begins with the second half of the Asian session through to the first half of the session in London. This may seem to be quite restrictive but it has proven to be the most profitable time frame and period for Autotrader to trade the Pound Yen.

Gomega GBPJPY has been designed to follow a strategy of steady, consistent gains, for the long term. The results of the forward test are so far are very good and are a taste of what we can expect from trading with Gomega GBPJPY. Shortly I’ll be doing some back tests as well, to get a even better idea about how well Gomega GBPJPY performs. Quantum have already published live trading results from their clients who have been trading Gomega Autotrader for the last 8 months. So we already know that Gomega GBPJPY is very profitable on the Pound Yen pair.

Quantum research are so confident with the profitability of Gomega GBPJPY, that they have announced a full one year profit guarantee for their clients. Essentially they are guaranteeing that Gomega GBPJPY will at least double your account balance over a one year period, or they will refund the full purchase price of the software. That is an bold guarantee and just goes to show how extremely confident Quantum Research are in their automated trading system. You will be able to see the full details of the guarantee on their sales page when Gomega GBPJPY opens for sales Tuesday. Until then, they summarize it in their blog and in their most recent video titled “The Offer Guarantee & More“.

The only problem I have with Gomega GBPJPY is that there is only a 3 day window in which to purchase this software. I’m sure many people will discover Gomega GBPJPY after sales have closed. However this is always the case with the Gomega automated trading software. So if you do miss out on this launch, then I highly recommend you join VIP notification list, to be sure you don’t miss out next time.

Technorati Tags: gomega GBPJPY review, gomega guarantee, gomega review, japan session, london session, profit target, stop loss settings, trailing stops

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.

Technorati Tags: demo account, gomega forward tests, trailing stops