Gomega Xray Live Test Results for Last Week
Posted on May 26th, 2009
It was a exciting week for Gomega Xray forward tests and I’m sure for most automated trading systems. Gomega has been trading a $5000 demo account with Alpari since April 21st, and it began the week with a balance of $6188. During the week it suffered a number of successive loses drawing its account balance down to well under $6000. Yet at the same time its equity balance was 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 explanation behind the string of losses in my opinion is Gomega Xray trades multiple currency pairs and one of the entry criteria is the cross currencies strength for each of the pairs being traded. This is one of the many factors that gives Gomega the edge when calculating whether to enter a new position. However it is a two edged sword. So when the market direction changes and goes against Gomega, Gomega will possibly have several small 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 movement, 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 during 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 notwithstanding this, Gomega was still in the trade on several positions since the beginning of the week and before. 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 several positions it had been holding and finished the week with a balance of $7296 and equity of $7478. Overall that’s a gain of $2296 or 45% in less than one month.
While the weeks trading didn’t produce a pleasant smooth balance curve, the final result is still really impressive. If Metatrader were in a position to show an equity curve that included the equity balance, it’d be easier 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 closing trades basis rather than a fixed unit of time. So the end result is a somewhat distorted view.
Keep up to date Gomega AutoTrader Live Trading Results
Filed under Forex Automation |