I’ve been forward testing the new Gomega Pound Yen since Tuesday last week. And it has proven to be very consistent at anticipating the market direction on trades it has entered, is was however exited early when the market retraced before advancing further. Leaving it in a net gain of $45.76 profit for the 3 days it traded.
Gomega Xray was also trading this currency pair having entered its position the week before. Just now Gomega Xray exited its position in the Pound Yen at a profit of $704.52. Leaving it with an account balance of $7686.72 and an equity balance of $8850.
Click Here for a Gomega GBPJPY to see Gomega GBPJPY in action
The back tests on Gomega were very good but the live results are even better. I’m not a big believer in back testing, simply due to the fact that the amount of data available for the EA to work with, is tiny at just around 1% to 2% of the real time live data ticks. And even when using the 1 minute time frame for the data source, each tick is an average of the 50 to 100 ticks that may have existed in real time. In other words, back tests are poor facsimiles of live trading.
So how did Gomega GBPJPY do in the back test? The test was run across the same time period that we have live results for. Which is from October 5, 2008 thru to April 10, 2009. Beginning with an account size of $5000, the Gomega GBPJPY back test completed with a closing balance of $8174 which is a 63% gain. This compares very well with the live results from Gomega clients. Andreas Maeder’s account began live trading on Sept 2nd 2008 with a starting balance $10,000. And by April 6, 2009, the account had reached $19,909.24. A gain of 99% in just 7 months. You can see Andreas, from Switzerland, talks about his Gomega settings for trading the Pound Yen. Another client traded with a $5000 demo account over the same period which hit a closing balance of $14,608.67 by April 3rd, which is a gain of 192%. And another client traded a live money account starting with $5000 beginning on October 5th, 2005 and by April 10 it had reached $12,811.01 or a gain of 156%.
Here I’ve taken the chart from the back test and superimposed it over the live result charts (Sean, Greg). I then color coded the balance curves to make it easier to compare the results. The blue line is the live money account, the green line is the forward demo test and the orange line is the from the back test. You can read more about the GOmega GBPJPY AutoTrader here GoMEGA Pound Yen Review.
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.
GoMega GBPJPY Autotrader will be released June 2nd, 2009 for 3 DAYS ONLY
GoMega GBPJPY Autotrader will snapped up by a number of smart traders beginning June 2nd for 3 days ONLY. After that, it will never be available again to the general public
I’ve been forward testing the new Gomega Pound Yen since Tuesday last week. And it has proven to be very consistent at anticipating the market direction on trades it has entered, is was however exited early when the market retraced before advancing further. Leaving it in a net gain of $45.76 profit for the 3 days it traded.
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