Decided to make a brief video to show Gomega Xray in action. Xray ended the week with a balance of $6980, which is slightly off last weeks high. However just looking at the balance is a little misleading, as there are many trades that are still open. I believe a more relevant number to look at, is the equity balance, which is currently up to $8059.24. Of course, if I were to manually closed out all the positions, this would be the approximate account balance.

It is unfortunate that the Metatrader platform doesn’t include the equity balance in it’s chart for the detailed report. This, along with the account balance, would give a much better profile for the trading performance.

In order to illustrate this point, I decided to plot the equity balance onto the account balance chart. Each red dot represents the current equity balance at the end of each week. The green line is simply to illustrate an approximate equity balance curve. Of course the only equity balance data I have, is from the detailed reports generated by Metatrader and I’ve only been producing those once per week. It would be nice if there were a plugin for Metatrader that could log the equity balance at regular intervals and produce a nice graph at the push of a button.

Notice the red dots are not evenly spaced, as Metatrader plots the horizontal axis on a per closed trade 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 week, which had been a very active week for Gomega Xray. It was during that week, that the large discrepency between the account balance and the equity balance became abundently clear. While the account balance was in decline for much of the week, the equity balance was flux but generally rising. Of course the account balance will see a decline, if trades are exited if the stop loss is hit, the equity balance includes all 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 witness this phenominon in action. Which is what initially motivated me to make the latest video.

Also see my Gomega GBPJPY Review to see Gomega GBPJPY in action

Just a quick update to my last post. In this Gomega GBPJPY video you can see a trade in action, Gomega GBPJPY 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 dashed green line shows the buy price and the dashed red line is the current stop loss position. Gomega GBPJPY employs a intelligent stop loss algorithm and 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 thorough explanation of all the indicators shown on the Gomega GBPJPY chart, I recommend watching the full video walk through by Ken Herbert, this is located here Gomega GBPJPY Under the Hood. Although the chart is full of detail and looks rather intimidating, all the complexity of analyzing the various signals, is handled automatically by Gomega GBPJPY. Not with standing, through the indicators on the chart, you have a window on the in depth analysis that is going on in the background. Its kind of like the feeling you get when look under the hood of a high performance sports car.

You can read more on the GOmega GBP JPY AutoTrader at GoMEGA Review.

Since Tuesday I’ve been been doing a forward test with the new Gomega GBPJPY. It is setup on a demo account at FXDD with a starting balance of $5000. The configuration is exactly as it was preset by Quantum Research. Gomega GBPJPY is set to trade during the second part of the Asian session and first part of the London session. So far it has opened 2 trades, both were orders to buy. As trades progress, Gomega intelligently modified the trailing stop, so to lock in the profit on the trade, if the market direction reversed before reaching the take profit setting.

The Gomega GBP JPY trades on the four hour time frame and only open new trades within an 8 hour period each 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 very restrictive but it has proven to be the most profitable time frame and period for Autotrader to trade the GBP JPY.

The results so far: For the initial trade, the stop loss setting was adjusted by Gomega as the price rose but when the market price, it exited the trade for an end result of no gain and no loss.

The next trade was very similar, however the market moved somewhat higher before retracing. Again the trailing stop was triggered and Gomega exited with a small profit.
Click Here for a Gomega GBP JPY Review and Live Results

Gomega GBPJPY has been designed to follow a strategy of consistent, steady 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 when trading with Gomega GBPJPY. Tomorrow I’ll also begin running some back tests as well, to get a clearer picture how well Gomega GBPJPY performs. Quantum have already published live trading results from their clients who have been trading Gomega Autotrader over the past 8 months. So we already know that Gomega 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 impressive guarantee and just goes to show how supremely confident Quantum Research are with their Gomega GBPJPY. You will be able to see the full details of the guarantee on their sales page when Gomega GBPJPY goes live 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 learn of 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 strongly recommend you join my mailing list, so you don’t miss out next time. You can read more on the GOmega Pound Yen AutoTrader at GoMEGAGBPJPY Review.