Forex Robo Trading

Archive for the ‘GoMega Xray’ Category

Live Forex EA Results Coming Soon…

I know I promised this more than a week ago. However writing software can sometimes be a bit of a quagmire. Sometimes a seemingly simple feature turns out to be hard to implement and sometimes during the coding and testing phase you realize there is an even better solution, a solution that often involves throwing out most of the code you’ve just written.

It had been my intention to initially publish a very simple set of live result tables before going to the next step and outputting full live result charts. However after messing around with implementing charting output, it became pretty obvious this was the only way to go. So once finished, you’ll be able to see live result charts for all the robots being tested as well as the MT4 result tables that these charts are generated from.

Is this the end of Forex Robot reviews.? Probably not but with so many Forex EAs for sale online, this is likely to be the quickest way to identify the quality robots from the junk bots and scam bots.

Technorati Tags: forex ea testing, forex forward tests, forex robot review, live testing, live trading charts

When buying an automated Forex trading system, you genrally get what you pay for. And there is no doubt in my mind that GOmega GBPJPY is worth every cent and much more. But it of course depends on how much you wish to invest in your Forex trading. If you only ever intend to play around with a micro account then you should probably stick with something in the sub $100 category.  But when you have a significant amount of money to manage, it makes perfect sense to acquire the best tools available.

I was just reading through the Gomega GBPJPY FAQ PDF file which you can download from the sales page. And the following caught my attention.

“If I’m a past client, do I get a discount?“

“If you’re a past FXPP AutoTrader or Gomega AutoTrader client, then you will receive the new Gomega at no additional cost.
If you are a client from any of our other products, you qualify for a discount. Contact us for more details on that at ….”

So my question is, would this policy apply when the new version of Xray becomes available? By that I mean, if you are already a Gomega client at the time that the new version of Xray is released, would you have access to it and at a discount? (Remember of course it may not be released to the general public, but I’m sure it would be available to all new clients.)

While I can’t answer that question myself, it certainly is something to consider and something to ask the Gomega sales about before the doors close on Gomega GBPJPY.

All I can say is that Gomega support is second to none and they are very generous to their clients. When you buy Gomega, it is as if you have joined their family.

So if you were to purchase Gomega GBPJPY, not only would you be getting a fund manager grade automated trading system today, you’d also be getting a foot in the door to priority access on all future software including Gomega Xray.

In my opinion, that is an oppurtunity not to miss out on.

Technorati Tags: gomega discount, gomega faq, GoMega Xray, gomega xray rerelease

I know in writing these articles it must seem like I’m knocking Metatrader. Metatrader is excellent piece of software that provides a gateway to the Forex markets. Were it not for Metatrader we wouldn’t have a cross broker platform with which to trade on and more importantly, a platform to run advanced Forex Expert Advisor software. However Metatrader 4 does have some limitations, especially when it comes to providing a visual presentation of trading performance.

What I am referring to is the chart that is produced in the detailed Metatrader reports. Just glancing at these charts can be quite misleading as the vertical axis is not a constant metric between one graph and the next. So for example if the balance values being displayed began at $5000 and ended at a high of $5050 then we’d have a line that began at the bottom left of the chart and ended at the top right of the chart. If however the balance values ended at a high of $7050, then we’d also have a line the went from the bottom left of the chart and ended at the top right of the chart. In other words both charts would look extremely similar. When if fact the second result is 40% better than the first.

The clearest illustration of this can be seen by looking at results from three of the Expert Advisors that are currently running.

Gomega Xray

Forex Conqueror

Forex MegaDroid

At face value the 3rd chart for Forex MegaDroid looks by far the most impressive. A nice smooth, steeply rising balance line. And certainly its win rate is very impressive, but unfortunately it achieves that cost of having a very small take profit target.

All is not as it would seem however. These charts are somewhat deceptive. If we were to take these charts and put them on a unified scale, the reality of which EA is performing the best is much clearer.

To try and illustrate the point I’ve point together a rather crude normalized chart showing the relative account balances along with Gomega Xray’s equity balance. The reason it is important to show Xray’s equity balance is because Xray trades on a long term strategy across multiple currencies and at any one moment may have as many as 5 or 6 trades open.

This balance scale on this chart starts at zero, so as to give and even more realistic idea of relative performance. The Megadroid and Conqueror charts have been shifted right to account for a slightly later starting date and the horizontal axis has been stretched so they all end points line up. The Megadroid and Conqueror charts also had to be significantly squashed vertically to match them accurately onto the Gomega chart.

The following are the results from Five Expert Advisors that myself and a colleague have been testing. They are ordered by the date at which the test had begun.

Gomega Xray: FXDD $5000, April 21
May 30: Balance: $6980.77 Equity: $8059.24

Forex Conqueror: FXDD $5000, April 24
May 30: Balance: $5491.91 Equity: $5491.91

Forex MegaDroid: Alpari $5000, April 27
May 30: Balance: $5472.97  Equity: $5472.97

Forex GridBot: Alpari $5000, May 17
May 30: Balance: $4168.94  Equity: $4168.94

Gomega GBPJPY: FXDD $5000, May 26
May 30: Balance: $5046.76  Equity: $5046.76

Although Gomega Xray began with a few days lead over Conqueror and MegaDroid, it has outperformed the other EAs by a very large margin.

The results for GridBot were provided by my colleague, as so far my installation of Grdibot has not yet opened any trades. This may be due to some incompatibility issue with the FXDD version of MT4 and the workings of GridBot.

Forex Gridbot has been trading for less than 2 weeks and Gomega GBPJPY less than 1 week, so there is not a lot that can be read into these results so far. What is interesting here is that both Gridbot and Gomega GBPJPY trade on the Pound Yen (Gridbot also trades the USD JPY). It is going to very interesting to compare the performance of these two Expert Advisors over the coming weeks. Although I have a pretty good idea on which one is going to come out on top