GOmega XRay

I’ve been forward testing the new Gomega GBP/JPY since early last week. And although it has been very consistent at picking the current market trends on trades it has entered, it was unfortunately exited early when the market backtracked before continuing its advance. Leaving it in a net position of $45.76 profit for the 3 days it traded.

Gomega Xray was also trading the Pound Yen and had been in the trade since the week before. Just now Gomega Xray exited its position in the GBP JPY at a profit of $704.52. Sending the account balance to $7686.72 and an equity balance at $8850.

Click Here for a Gomega GBP JPY to see Gomega GBP JPY in action

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The back tests on Gomega were good but the live results are even better. I’m not a big believer in back testing, simply because the amount of data available for the EA to work on, is minimal at just around 1% to 2% of the real time live tick data. Even when using the 1 minute time frame as the data source, each tick is an average of the 50 to 100 ticks that may have existed in real time. In other words, back tests are poor facsimiles of live trading.

So how well did Gomega GBPJPY perform in the back test? The test was run across the same time period as the live results. Which is from Oct 5, 2008 through to April 10, 2009. Starting with an account size of $5000, the Gomega GBPJPY back test completed with a closing balance of $8174 which is a 63% gain. This compares well with the live results from Gomega clients. One client began live trading on Sept 2nd 2008 starting with a balance of $10,000. And by April 6, 2009, the balance stood at $19,909.24. A gain of 99% in just 7 months. You can see Andreas, from Switzerland, talk about his experience trading with Gomega and the settings he uses for trading the GBPJPY. Another client ran a $5000 demo account over the same period and it hit a closing balance of $14,608.67 by April 3, which is a gain of 192%. And another client traded a live money account starting with $5000 beginning in October 5th, 2005 and by April 10 it had reached $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’ve 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 brown is the from the back test.
You can find more information about the GOmega GBPJPY here Gomega GBPJPY Review.

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Just thought I’d make a brief video to show Gomega Xray in action. Xray closed the week with a balance of $6980.77, just a bit down from its high of last week. However to just look at the balance is quite misleading, as there are many trades that are still open. I believe the more relevant number to look at, is the current equity balance, which is currently at $8059.24. Of course, if I were to have manually closed out all the trades, this would be the approximate account balance.

Unfortunately the Metatrader platform isn’t able to include the equity balance in it’s chart for the detailed report. This, along with the account balance, would give a far 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 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, comes from the detailed reports generated by Metatrader and I’ve only been producing those at the end of each week. It would be nice if a plugin were available for Metatrader that could log the equity balance at regular intervals and draw a detailed graph with 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, represents just 1 week. That is the week before last, which had been a very active week for Gomega Xray. During that week, the massive disparity between the account balance and equity balance became abundantly clear. While the account balance was in decline for much of the week, the equity balance was flux but generally rising. 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 positions, many of which are likely to be closing in on their profit targets. Of course when you have the sofware trading right in front of you, you can witness this phenomenon in action. Which is what initially motivated me to make the latest video.

Click Here for my Gomega GBPJPY Review to see Gomega GBPJPY in action

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Here’s 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 point at which the trade was opened is indicated by the little green arrow, the dotted green line indicates the buy price and the dotted red line is the current stop loss position. Gomega GBPJPY uses 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 will at very least, break even.

For a detailed explanation of all the indicators displayed on the Gomega GBPJPY chart, I recommend seeing the very thorough video walk through by Quantum Research, which can be found here Gomega GBPJPY Under the Hood. Although the chart is very detailed and looks rather intimidating, all the complexity of analyzing the various signals, is taken care of automatically by Gomega GBPJPY. Not with standing, through the indicators on the chart, you do have a window on the advanced analysis that is taking place in the background. It gives you the feeling you are looking under the hood of a high performance sports car.

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Since Tuesday I’ve been running forward testing on the lastest Gomega GBPJPY Autotrader. It is setup on a demo account at Forex brokers FXDD using a starting balance of $5000. The configuration is exactly as it was preset with by Quantum Research. Gomega GBPJPY is set to trade during the second part of the Asian market session and first part of the London session. So far it has entered 2 trades, both were buy orders. As trades progress, Gomega intelligently modifies the trailing stop.

Gomega GBPJPY trades on the 4 hour chart 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 appear very limited but it has proven to be the most profitable time frame and period to trade the Pound Yen with Gomega Autotrader.

The results so far: With the opening trade, the stop loss setting was adjusted by Gomega as the price rose but when the market retraced, it exited the trade for an end result of zero profit and zero loss.

The next trade was very similar, however this time the market moved somewhat higher before retracing. Once again the Gomega adjusted the stop loss exited with a small profit.

Gomega Pound Yen has been designed to follow a strategy of consistent, steady gains, over the long run. The initial forward tests are very good and are a taste of what we can expect when trading with Gomega GBPJPY. Tomorrow I’ll also begin doing 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 for the past 8 months. So we already know that Gomega performs very well on the Pound Yen pair.

Quantum research are so confident with the profit potential of Gomega GBPJPY, that they are including 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 shows just how extremely confident Quantum Research are in their Expert Advisor. You can see the full details of the guarantee on their sales page when Gomega GBPJPY opens for sales next Monday at midnight. In the mean time, 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 VIP update list, so you don’t miss out next time.

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Is There a Secret to Retiring in 4 Years?

So what could be wrong with retirement? If you have enough money to enjoy a pleasant lifestyle or at least to the standard of living you have become accustomed to. Then retirement is great! Of course for most of us, the thought of retirement is in the distant future. Something to store away a little nest egg for, so we can make the most of the golden years of lives.

Wrong! In the current economic climate, retirement may be closer than you think, forced early retirement that is. As for that nest egg you’ve been working so hard to accumulate. Let’s not get into the 401K scandals, housing market crash, credit crunch, stock market collapse, investment fund scandals, multi billion dollar bank handouts with your future tax dollars to reward well connected white collar (you fill in the blank). To sum it up, a complete economic meltdown. And lets not even go into who authorized tax incentives to export your work to China.

These are all reasons why you may never be able to retire and enjoy your life, follow your passions and fulfill your dreams. These are all reasons why you will likely be working to the end of your days to make money for someone else or perhaps worse.

This doesn’t have to be your reality. Your life can and should be different but its up to you to make the difference. So lets talk about why you can retire and enjoy life. And that this could be achieved within just four short years.

In spite of all the doom and gloom from the corporate media, there is one thing you should know. Money is never destroyed, it merely changes hands. You can exchange your free time for some money or you can exchange money and FREE YOUR TIME. The biggest money market in the world is the foreign currency exchange market or FOREX. Trillions of dollars in foreign currencies across the world change hands every business day of the week.

If only there was a way to tap into this market using an automated trading system, that could profit from the variations in the currency prices, twenty four hours a day. Well there are many such trading systems available. And the best of them do make money consistently month after month. One such example of an excellent automated Forex trading system is Gomega Xray.

Although it may not be possible to buy Xray at this time, there is another extremely valuable release coming from the creators of Gomega. In a week from now, Quantum Research will be making available a new version of their extremely popular GOmega Autotrader FX. This new release of Autotrader is named GOmega GBPJPY or (Pound Yen).

Gomega GBPJPY is dedicated to trading the Pound against the Japanese Yen. This pair of currencies has been very profitable for Gomega users, some have even made their live trading accounts available for Quantum to display on their website. Jonathan and David present a Four Year Retirement Plan based on the compounding profits possible just by trading on autopilot using Gomega GBPJPY with a opening balance of just $5000. At the current rate of equity growth, within four years, the balance would be over $1,200,000. Hence the title, the Four Year Retirement Plan.

Quantum meet a Swiss Gomega Autotrader client in Switzerland

Last week Ken Herbert Snr. and Jonathan Herbert of Quantum Research released a video of their meeting with one of their Swiss clients. He’d almost doubled the balance on his live trading account in seven months, trading this currency pair and on auto-pilot with Gomega AutotraderFX.

More GoMega GBPJPY Videos released by Quantum Research

A new video has now been released where Quantum show you the inner workings of the Gomega GBPJPY Autotrader. This is a fascinating video and essential viewing for everyone considering buying Gomega GBPJPY or simply trading this currency pair. This video goes into great depth showing the signals and indicators Gomega GBPJPY uses in determining when to open or exit a trade. If you are new to Forex then this may be a little intimidating, however the great part about the Gomega system is that Gomega GBPJPY handles all the complexity for you, you only need to set few settings such as Risk per Trade, Stop Loss and Take Profit level.

The GoMega GBPJPY Under the Hood, is a truly fascinating video which not only takes you under the hood but through a trading week with the Gomega GBPJPY also, and I highly recommend watching it at least once if not three times.

See the GoMega GBPJPY Site

Click Here for my Gomega GBPJPY Review to see Gomega GBPJPY in action

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It was a interesting week for Gomega Xray forward tests and perhaps for most automated Expert Advisors. I have had Gomega Xray trading a $5000 demo account with Alpari since April 21st, and it commenced the week with a balance of $6188. During 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 appear 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 explanation for 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 of the pairs being traded. So if the market direction changes or goes against Gomega, Gomega will possibly have many tiny 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 swing, the result being many big 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 having some positions that were peaked out by 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 in spite of 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, even 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. Overall that’s a gain of $2296 or 45% in less than one month.

While the weeks trading didn’t produce a nice smooth balance curve, the final result is still extremely inspiring. 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 Metatrader charts 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.
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