Gomega Xray Results for May 22nd 2009
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.
Click here for the latest on Quantum Gomega Live Trading Results
