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

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

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.

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

Hi Andrew Charles here,
A year ago I was the biggest skeptic of Forex trading and especially automated trading systems. I had to change my tune however when a friend of mine quit his day job after a year of manual trading. He is one of the 5% who can make money trading Forex manually. Even though he continues to be successful, I know I don’t have the right temperament to sit down in front of the computer and trade manually, day in and day out. Manual trading just isn’t for me.

Then six months ago, by chance I met someone who was successfully trading Forex with an automated system. He was so overwhelmingly enthusiastic about his trading software that I just had to see it. It turned out he was trading with Gomega TraderFX Autotrader. Straight off, you good see this was a rather advanced peace of software, with more configurable parameters than you could ever need. To say the interface was complex would be an understatement. The exciting thing was, not only did it work but it transformed an ordinary father of two children into a Gomega evangelist.

There was a catch though! Gomega TraderFX Autotrader was no longer for sale. It had been available for just 3 days and no more. Fortunately my friend contacted me when Gomega Xray was about to be released. I knew I had to get my hands on it and I made sure that I did.

I’ve been testing and getting up close and personal with Gomega Xray for over a month now. And can honestly say that this is a very impressive automated trading system and I’m so impressed with the results that I’ll be taking it to a live money account very soon. Gomega’s interface has been streamlined and the complexity I saw in the original Autotrader FX had been replaced with straight forward, intuitive control. More of the system is now under the hood and out of reach of someone like myself, who would probably break it by fiddling and tweaking it to death. “If its not broken don’t fix it” is something I often need to tell myself. And the performance is way beyond anything I had thought possible. Performing exceptionally well when the markets are trending strongly, as they are right now. And so now I too have become a Gomega evangelist.

So along comes a surprise re release of Gomega Autotrader FX but this time with a twist, its dedicated and optimized to trading the Great British Pound against the Japanese Yen. There are a number of EAs available right now that are specialized in trading this currency pair. Especially as the Pound Yen has become a favorite of many traders, due to its high volatility. This is not some “me too” Pound Yen automated trading software. Judging by the live results from other Gomega users, Gomega Autotrader has been doing exceptionally well on the Pound Yen. But when you see Gomega GBPJPY in action and witness its extreme accuracy at anticipating the current market trend, combined with Gomega’s new ultra smart automated trailing stop modification. It is quite clear, this is a high end “State of the Art”, hands free trading system.

So how does Gomega GBPJPY measure up?

In the brief time I’ve had access to Gomega GBPJPY AutoTrader, I have be very impressed. In fact, I’m certain it’s going to give Gomega Xray some stiff competition in the stakes for the most profitable automated trading software. However I did find a problem!

Even though the complex interface I had seen on the original Gomega Autotrader FX was now streamlined and extremely easy to setup and configure. Even more streamlined than Xray in fact. And even with its newly acquired, smart trailing stop loss feature that can intelligently snap the stop loss up at moments notice, locking in profits, if the market retraced itself. Again this is another feature that is one step ahead of the current version of Gomega Xray. And this is certainly going to make Gomega GBPJPY’s performance even more consistent when compared to the current version of Xray.

So while Gomega Xray may be the Ferrari of automated trading systems, Gomega GBPJPY is more like the Jaguar XJ Super V8 luxury sports car. Solid, dependable and built for reliable, consistent performance as well as for speed.

However there is still one small problem!

How to avoid tinkering with the settings on Gomega GBPJPY and degrading its performance? Just as, if you’re not a skilled mechanic, you shouldn’t even dream of trying to tune up your brand new sports car! As Quantum Research themselves have stated “This software requires you to have the discipline to look toward the long term and not just right now”. What they are referring to is the problem that all Forex traders face. Fear and greed. “Gomega has its own built in strategies and with its own rules and never has to worry about being influenced by fear and greed”. While you are encouraged to let Gomega trade on its own. This is easier said than done, especially if you are new to trading Forex. You are inevitably going to want jump in and mess with the setup, perhaps without having any idea of what you are doing.

So I’ve come up with the solution!

For the first 25 7 serious traders who purchase Gomega through a link on this website.

I will include a copy of what has been described by countless Forex traders as the Forex Bible. I feel with this in your hands, you are far more likely to have the understanding and discipline necessary to leave Gomega GBPJPY to do what it does best. And of course if you later wish to tinker with the settings in Gomega GBPJPY, you can do so with a far better understanding of what you are doing.

Exclusive FREE Bonus When You Buy GOmega XRay Here

Once you have purchased GOmega GBPJPY you probably won’t need to buy another Forex product. EVER!.

It is always nice to offer an exclusive high value bonus to sweeten the deal on any Forex product. But what do you offer on a top of the line, totally automated Expert Advisor that comes with EVERYTHING?

When you buy Gomega GBPJPY, you’ll receive everything you need to get started immediately. From step by step, quick start videos, and direct email personal phone support direct with the developers and their in house GOmega experts. And it doesn’t end there either, they include unlimited support for life. Including free access to their impressive forex trading knowledge base and expertise. Unlimited training, live webinars and free upgrades to all future versions of GOmega GBPJPY. When you buy GOmega it’s as if you’ve joined their family.

So here is what I’m offering. When you buy GOmega Xray from my link.

Exclusive FREE Bonus:

“Trade Your Way to Financial Freedom”
by Van K. Tharp

This title presents the best selling holy grail of trading information – completely up to date to give traders an edge in the marketplace.

“Sound trading advice and lots of ideas you can use to develop your own trading methodology.” – Jack Schwager, author of “Market Wizards” and “The New Market Wizards”.

This trading masterpiece has been fully updated to address all the concerns of today’s market environment. With substantial new material, this second edition features Tharp’s new 17-step trading model. “Trade Your Way to Financial Freedom” also addresses reward to risk multiples, as well as insightful new interviews with top traders, and features updated examples and charts.

Of course if your are already a very knowledgeable trader or just blessed with a lot of self discipline, then you might not need this bonus. However it would still look good on your book shelf, even if you never read it.

So how do you claim your bonus?

First you will need to clear your cookies from you computer and then buy through a link on this page. After your purchase, just send an email to ForexTips (at) ForexRoboTrading.com

And I’ll ship you your copy of “Trade Your Way To Financial Freedom” direct from Amazon Books.

Order GOmega GBPJPY Now

Internet Explorer 8

1. Once your browser is open, click the Tools menu and select Internet Options.
2. Be sure the General tab is selected.
3. Under “Browsing history”, click “Delete…”
4. In the new window, be sure the Temporary Internet Files box is checked. You can uncheck everything else you don’t want to delete.
5. Click Delete.

Internet Explorer 7

1. Once your browser is open, click the Tools menu and select Internet Options.
2. Make sure the General tab is selected.
3. Under “Browsing History” click “Delete”
4. In the new window, click Delete Files in the Temporary Internet Files section. If you want, you can also opt to delete cookies and browsing history.
5. Alternatively, clear your cache for just the current page you’re visiting. Press and hold [Ctrl] on your keyboard, then Press [F5] or click on the Refresh button (square button on the toolbar with opposite-facing arrows).

Internet Explorer 6

1. Once your browser is open, click the Tools menu and select Internet Options.
2. Make sure the General tab is selected.
3. Click Delete Files in the Temporary Internet Files section and click OK.
4. If you want the browser to automatically clear the cache whenever you close it, click the Advanced tab. Click to check the box next to the “Empty Temporary Internet Files folder when browser is closed” option (in the section labeled “Security”). Click OK. This will delete everything except cookies.

Firefox 1.5 / 2.0 / 3.0

1. Below is the full method, although it is possible to simply go to Tools, and select Clear Private Data, or to just press Ctrl+Shift+Delete. Please note that these options clear what you have set the browser to clear in Tools > Options… > Privacy, which can mean the cache, although it may also include passwords, and search and browsing history, so be careful.
2. Go to Tools and select Options….
3. Go to the Privacy tab, and click Settings… (in the blue box in the image).
4. Select what you would like to have cleared.
5. Return to the Options menu. If you want your cache cleared automatically, every time you close the browser, click the appropriate checkbox (shown in red in an earlier image).
6. Press “Clear Now” under the Settings button

Safari

1. Once your browser is open, click the Safari menu and select Empty Cache
2. Confirm the action by clicking Empty in the pop-up window

PS.

What is amazing about Gomega GBPJPY is that it’s been priced at just one fifth of the expected future price of Gomega Xray, that is if Xray is ever released again to the public. And it includes more advanced features than the current version of Gomega Xray. Gomega Xray and Gomega GBPJPY are the 2 best Expert Advisors I’ve ever tested. As to which is going to be more profitable in the long run, it is too early to say. One thing that is certain, they both share the unrivaled support and inherit their features from the thoroughbred pedigree of all Gomega Automated trading systems.

Technorati Tags: gomega bonus, gomega gbpjpy, gomega gbpjpy user, gomega review, truth behind gomega

Gomega Xray was also trading this currency pair and had been in the trade since the week before. And just now Gomega Xray exited its position in the GBPJPY at a profit of $704.52. Leaving it with an account balance of $7686.72 and an equity balance of $8850.

Technorati Tags: GBP JPY, gomega gbpjpy resutls, Gomega Xray Results, pound yen, profits

Just thought I’d make a quick video to show Gomega Xray in action. Gomega Xray closed the week with a balance of $6980.77, which is slightly off its high of last week. However just looking at balance is somewhat misleading, as there are many trades that were still open at the close of trading for the week. I believe the more relevant number to look at, is the equity balance, which currently stands at $8059.24. After all, if I were to have manually closed out all the trades then this would be the approximate account balance.

It is unfortunate that the Metatrader platform isn’t able to include the equity balance in it’s detailed report. This, along with the account balance, would give a much better representation of the trading performance.

To illustrate my point I’ve decided to plot onto the chart produced by Metatrader, the equity balance at the end of each week. Each red dot represents the current equity balance at the end of each week. The green line is simply to illustrate an approximate equity balance curve. Of course the only equity balance data I have, is from the detailed reports Metatrader has generated and I’ve only been generating those once per week. It would be nice if there were a plugin for Metatrader that could log the equity balance and produce a nice graph with the click of a button.

You will notice that the red dots are not evenly spaced, this is because Metatrader plots the horizontal axis on a per trade closed scale, not on a unified time scale. So the distance between the 5th and 6th red dot from the left, is just one week. That is the week before last week, which was a very active week for Gomega Xray. It was during that week, that the massive disparity between the account balance and the equity balance became glaringly obvious. 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 trades, many of which are likely to be closing in on their profit targets.

Of course having Gomega Xray trading right in front of you, its easy to see this phenomenon in action. Which is what initially motivated me to make the above video.

Technorati Tags: account balance, equity balance, GoMega Xray, metatrader, profit maximization, profit targets, stop loss, trailing stoploss, win rate