GoMega Xray in Action
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
