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.

It was a exciting week for Gomega Xray forward tests and I am sure for most automated EAs. I’ve had Gomega Xray trading a $5000 demo account at Alpari since the 21st of April, and it began the week with a balance of $6188. In the week it suffered a number of successive loses drawing its account balance down to way under $6000. However this is not as bad as it may seem as its equity balance was at the same time 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 reason behind the string of losses in my view is Gomega Xray trades multiple currency pairs and one of the entry standards is the cross currencies strength for each currency pair 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. So when the market direction changes and goes against Gomega, Gomega will possibly have many little losses in a row as the stop losses are triggered. Naturally the opposite is true when Gomega is on the right side of a market swing, the result being multiple enormous 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 spiked out as a result of some major news events. Those news events without doubt had sent a cascade of stop losses rippling across the markets. Perhaps a great oppurtunity for the dedicated manual trader? However notwithstanding this, Gomega was still in the trade on many positions since the beginning of the week and earlier. And as the Euro continued to strengthen throughout the week, Gomega’s equity position continued to grow, though its balance was down.

By the Friday afternoon, Gomega had closed out many positions it had been holding and ended the week with a balance of $7296 and equity of $7478. That’s a gain of $2296 or 45% in less than 1 month.

While the weeks trading did not produce a pleasant smooth balance curve, the final result is still really impressive. If only Metatrader were in a position to show an equity curve that encompassed the equity balance, it would be better to visualise the real progress of the trading through the week. Another limitation of the chart s produced by Metatrader are that the horizontal axis is constructed on a trade by trade basis rather than a fixed unit of time. So the end result is a somewhat distorted view.
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