Forex Robo Trading

Posts Tagged ‘GoMega Xray’

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

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

This was another good week for Gomega Xray overall and possibly could have been a stellar week were it not for my own blunder. Mid week I decided to upgrade to the latest version of Xray. Although the upgrade is very easy to perform, I didn’t realize that Metatrader would treat the upgrade as a new EA. Consequently it was trading for the last few days without being configured with the recommended settings. All seemed to be fine but I noticed not it was not placing many new trades, and then I realized I hadn’t setup the upgrade with the correct settings. Of course this is one reason why you should always trade a demo account first, while you get familiar with your EA. In this case all that was lost was a bit of virtual cash, for failing to follow the instructions. And a red face.

This has prompted me into extending my testing. Currently Gomega is running on a demo account at Alpari. However Quantum Research recommend FXDD as the broker where Gomega performs best. As Gomega has been performing so well, I have been considering testing Gomega both with and without a trailing stop. So I’ve decided to setup 2 new demo accounts with FXDD. These again will be configured with the default settings. And I’ll start publishing the first results this weekend.

So now there will be 3 Gomega demo accounts to follow.

Technorati Tags: gomega forward test, gomega review, GoMega Xray, live trading, trading results

Gomega Xray has put in some healthy gains of the past 2 weeks. Currently trading on a demo account at Alpari with a starting balance of $5000. The setup is completely vanilla using the exact recommended settings from the setup guide. I’ll have a full update shortly along with the results.

Its also been a good week for Forex Megadroid. This may be an inexpensive robot but it trades like a robot ten times the price.Full report and results for the week coming after trading finishes tomorrow.

A new Robot arrived on the scene just this week called The Forex Magic Machine. While the name may sound a little corny, what’s in a name? The important question is: Can it deliver? The only way to find this out is to put it through a full set of tests.So the Forex Magic Machine will be added to the mix next week with a fresh demo account to begin some forward testing.

You can see the official Forex Magic Machine website here. As is the case with many Forex robots, Magic Machine comes with a full 60 day money back guarantee so if you can’t hold on long enough to see my results, just pick it up right now completely risk free.

Technorati Tags: forex magic machine, Forex MegaDroid, forward testing, GoMega Xray, test rults