Just thought I’d make a brief video showing Gomega Xray in action. Gomega Xray closed the week with a balance of $6980.77, which is a little off last weeks high. However to just look at the balance is quite misleading, as there are many trades that are still open. I believe a more relevant number to look at, is the equity balance, which currently stands up to $8059.24. After all, if I were to manually exit all the trades then this would would then be represented in the 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 significantly better profile of the trading performance.

In order to illustrate this point, I’ve decided to plot the equity balance onto the account balance chart. Each red dot represents the current equity balance at the end of each week. The green line is a simple approximation of the equity curve. As the only equity balance data I have, is from the detailed weekly reports Metatrader has generated and I’ve only been producing those once per week. It would be nice if a plugin were available for Metatrader that could log the equity balance and render a detailed graph at 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 linear time scale. So the distance between the dot 5 and 6 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 large disparity between the account balance and equity balance became abundantly clear. They were for much of the week moving in opposite directions, the account balance was falling yet the equity balance was generally significantly higher. Of course the account balance will see a decline, if trades are exited at the stop loss value, the equity balance includes all open trades, many of which are likely to be closing in on their profit targets. Of course when you have the software trading right in front of you, you can see this effect, first hand. Which is what motivated me to make the above video.

Click Here for my Gomega GBPJPY Review and Back Tests, Forward Tests and Live Results

Technorati Tags: account balance, equity balance, GOMEGA Xray, metatrader, profit targets

Here’s a quick update to my previous post. In this Gomega GBPJPY video you can see a trade in action, Gomega GBPJPY has just opened a new long position in the Pound Yen. The little green arrow shows the point at which the trade was opened, the dashed green line shows the buy price and the dashed red line is the current stop loss position. Gomega GBPJPY employs a intelligent stop loss algorithm and it will move upwards as the price approaches the profit target. It will also move it up if the price retraces, so this trade will break even at the very minimum.

For a thorough commentary of all the indicators displayed on the Gomega GBPJPY chart, I recommend watching the very thorough video walk through by Quantum Research, this can be found here Gomega GBPJPY Under the Hood. Although the chart is very detailed and and is somewhat intimidating, all the complexity of analyzing the various signals, is handled automatically by Gomega GBPJPY. Not with standing, through the indicators on the chart, you have a window on the in depth analysis that is taking place in the background. Its kind of like the feeling you get when look under the bonnet of a high performance sports car.

Technorati Tags: forward tests, gomega review, profit target, trailing stops

Since Tuesday I’ve been running a forward test on the latest Gomega GBPJPY. I setup a demo account at Forex brokers FXDD starting with a balance of $5000. The configuration is exactly as it was preset with by Quantum Research. Gomega GBPJPY is set to trade during the second part of the Asian market session and first part of the London session. So far it has opened 2 trades, both were orders to buy. As trades progress, Gomega intelligently modifies the stop loss.

The Gomega Pound Yen trades on the 4 hour time frame and only opens new positions during an eight hour window every day. This covers the second half of the Asian session through to the first half of the session in London. This may seem to be very limited but it has proven to be the most profitable time frame and period to trade the Pound against the Yen with Gomega Autotrader.

The results so far: With the first trade, Gomega adjusted the trailing stop as the price rose but when the market retraced, it exited the trade at zero gain and zero loss.

The second trade was very similar, however this time the market moved somewhat higher before falling back. Again the trailing stop was triggered and Gomega exited with a small profit.

Gomega GBPJPY has been designed on a principle of steady, consistant gains, over the long term. The results of the forward test are so far are very good and indicative of what we can expect from trading with Gomega GBPJPY. Tomorrow I’ll also begin doing some back tests as well, to get a clearer picture how well Gomega GBPJPY performs. Quantum have already published live trading results from their clients who have been trading Gomega Autotrader for the past 8 months. So we already know that Gomega performs very well on the Pound Yen pair.

Quantum research are so confident with the profit potential of Gomega GBPJPY, they have announced a full one year profit guarantee for their clients. Essentially they are guaranteeing that Gomega GBPJPY will at least double your account balance over a one year period, or they will refund the full purchase price of the software. That is an impressive guarantee and just goes to show how supremely confident Quantum Research are with their Gomega GBPJPY. You will be able to see the full details of the guarantee on their sales page when Gomega GBPJPY opens for sales Tuesday. In the mean time, you can see them announce this in the video “The Offer Guarantee & More“.

The only problem I have with Gomega GBPJPY is that there is only a 3 day window in which to purchase this software. I’m sure many people will learn of Gomega GBPJPY after sales have closed. However this is always the case with the Gomega automated trading software. So if you do miss out on this launch, then I highly recommend you get on my VIP notification list, so you don’t miss out next time.

Technorati Tags: gomega forward tesing, gomega gbpjpy, gomega gbpjpy review, modifying stop loss, profit target

What is Wrong with Retirement?

So what’s wrong with retiring? If you’ve got enough money to enjoy a sufficiently comfortable quality of life or at least maintain the quality of life you are accustomed to. Then retirement is great! Of course for most of us, the idea of retiring is in the distant future. Something to store away a little nest egg for, so we can enjoy the golden years of lives.

Wrong! In the current economic environment, retirement is probably closer than you think, and by that I mean forced early retirement. As for your nest egg you’ve been working so hard to build up. Let’s not talk about the 401K scandals, housing market crisis, credit crunch, stock market collapse, investment fund scandals, multi billion dollar bank handouts with your future tax dollars rewarding ivory league white collar (you fill in the blank). In short, a complete economic meltdown. And lets not even go into who authorized corporate subsidies to export your work to China.

These are all reasons why you may never be able to retire and enjoy your life, follow your passions and fulfill your dreams. These are all reasons why you end up working to the end of your days to make money for someone else or perhaps worse.

This doesn’t have to be your reality. Your life can and should be better but its up to you to make the choice. So lets talk about how you can retire and enjoy your life. And how you could do so within just 4 short years.

In the midst of all the doom and gloom around us, there is one thing you should know. Money is never destroyed, it merely changes hands. You can exchange your time for some money or you can exchange money and free your time. The biggest money market in the world is the foreign currency exchange market (FOREX). Over US$3.2 trillion in foreign currencies from around the world change hands every business day of the week.

If only there were a way to tap into this with an automated system, that could profit from the changes in the currency prices, 24 hours a day. Well there are many such trading systems available. The best of them can make money consistently over time. One such example of an excellent automated Forex trading system is Gomega Xray.

While it is not possible to buy Gomega Xray at this time, there is another extremely exciting offering from the creators of Gomega. In a week from now, they will release a new version to their extremely popular GOmega Autotrader FX. This newest version of Autotrader is named Gomega GBPJPY.

Gomega GBPJPY is dedicated to trading the Pound Yen, currency pair. This currency pair has been very profitable for Gomega owners, some of whom have made their live trading results available to Quantum to publish on their website. Jonathan and David present a Four Year Retirement Plan based on the compounding profits possible by simply using Gomega GBPJPY to trade on autopilot from a starting balance of just $5000. At the current rate of equity growth, within 4 years, the balance would be over ONE MILLION DOLLARS. Hence the title, the Four Year Retirement Plan.

Quantum meet a Gomega Autotrader client in Switzerland

Last week Ken Herbert Snr. and Jonathan Herbert of Quantum Research presented a video of their meeting with one of their clients who lives in Switzerland, who had almost doubled his live trading account in 7 months, trading the GBP/YEN currency pair and on auto-pilot using Gomega Autotrader.

More GoMega GBPJPY Videos released by Quantum Research

Another video is now available where Ken Herbert Snr and Jonathan Herbert take you under the hood of the Gomega GBPJPY Autotrader. This is a very interesting video and very informative for anyone considering investing in Gomega GBPJPY or simply trading this currency pair. The video goes into great depth showing the indicators and signals Gomega GBPJPY uses in determining when to open or close a trade. If you are new to Forex then this may be a little overwhelming at first, however the best part is that Gomega GBPJPY handles all this complexity for you, you only need to set few preferences such as Risk per Trade, Stop Loss and Take Profit preference.

The GoMega GBPJPY Under the Hood, is a truly fascinating video which not only takes you inside of Gomega GBPJPY but through a trading week with the Gomega GBPJPY as well, I highly recommend watching it at least once if not 3 times.

Go to the Official GoMega GBPJPY Site

Click Here for a Gomega GBPJPY Review to see Gomega GBPJPY in action

Technorati Tags: four year retirement plan, gbpjpy autotrader review, gomega review, gomega users, live trading with gomega

Its been a interesting week for Gomega Xray forward tests and I am sure for most automated EAs. Gomega has been trading a $5000 demo account at Alpari since the 21st of April, and it started the week with a balance of $6188. In the week it suffered a number of successive loses drawing its account balance down to well under $6000. Yet at the same time its equity balance was hovering around $7000. So on the one hand the results looked bad but at the same time it was in a very good position overall.

Part of the reason for the string of losses in my view is Gomega Xray trades multiple currency pairs and one of the entry criteria is the cross currencies strength for each of the pairs being traded. So if the market direction changes or goes against Gomega, Gomega will likely have many little losses in a row as the stop losses are triggered. Of course the opposite is true when Gomega is on the right side of a market movement, the result being many big wins in a row.

This is precisely 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 during 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 regardless of this, Gomega was still in the trade on several positions since the beginning of the week and earlier. And as the Euro continued to strengthen during the week, Gomega’s equity position continued to grow, even though its balance was down.

By the Friday afternoon, Gomega had closed out several positions it had been holding and ended the week with a balance of $7296 and equity of $7478. So that was a gain of $2296 or 45% in less than one month.

While the weeks trading did not produce a nice smooth balance curve, the end result is still really impressive. If only Metatrader were able to show an equity curve that included the equity balance, it’d be better to visualise how the trading situation had progressed. Another limitation of the chart s produced by Metatrader 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 the Quantum Gomega Live Trading Results

Technorati Tags: demo account, forward testing, gomega xray results, live trading

Quantum Research have just announced they’re about to release a major update to their flagship EA of 8 months ago, Gomega AutoTrader FX.
See the the Gomega Pound Yen Video

Gomega AutoTrader FX is a very advanced EA and the forerunner to Gomega Xray. Like Gomega Xray, Autotrader FX compares all cross currency pairs as a part of it’s signal generation before opening a trade. Autotrader FX was so sophisticated and had so many features it was perhaps more fitted to professional traders and fund managers than part time traders who were looking to build a retirement fund. It is able to trade any currency pair and once setup it is possible let it run absolutely on auto-pilot.

In the 8 months since the release of Autotrader FX, Quantum’s clients have been having consistantly good results and in particular while trading the Pound / JPY. This has inspired Quantum Research to provide a new version of AutoTrader FX that has been optimized for and dedicated to trading this currency pair. The new member of the Gomega family has been named Gomega GBP/JPY AutoTrader.

Gomega GBP/JPY AutoTrader will no doubt inherit many of the streamlined features of Gomega Xray. And like all Quantum Research’s EAs the focus will be on producing consistant long term gains.

You can find out more about Gomega GBP/JPY Autotrader at their official web site See the the Gomega Pound Yen Video which has a video interview in Switzerland with one of their Gomega Clients. Andy has doubled his investment in the last 6 months just by trading the Pound Yen currency pair with Gomega Autotrader FX. You can also view Andy’s Live Trading Statement there as well.

100% in 7 Months & 150% in five Months
In the last 7 months, Andy virtually DOUBLED his initial account size of $10,000 to $19,909.24 on complete autopilot in his live trading account, risking no more than 1%-1.5%.

Another Gomega GBPJPY live trading client, started off with a $5,000 account on Oct 5th, 2008 and as of Apr 10th, 2009 his account had grown to $12,811 or approximately 150% profit in just over five months.

One client forward tested account beginning the demo with $5,000 on October 4, 2008 and ran the test till Apr 3rd, 2009. His account made just about 200% profit in 6 months with the account balance at $14,608. This was using the advised settings and with 1% risk per trade, left to run on auto-pilot.

You can view these results and find out more about the release of Gomega GBP/JPY AutoTrader here. Gomega GBP/JPY AutoTrader

Find out more about Gomega Pound Yen at my review site http://gomegareview.com

You can see their the Gomega Pound Yen Video

Technorati Tags: Gomega Autotrader FX, gomega gbp jpy, Gomega GBP/JPY Autotrader, quantum gomega