GoMega Xray Forward Tests
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
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