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

A quick step through an automated trade with Gomega Xray to get feel for how Gomega operates . . .

1. Entry
Within the purple rectangle, at the moment the trade was triggered, all of the entry conditions were met. Notice that the distance between the stop loss and the entry gives this trade plenty of room. The Take Profit target is 450 pips and the Reward/Risk ratio is 5, which means that the stop loss is 90 pips. Based on a 1% risk factor, the position size for the trade is .05.

2. Wide Initial Stop Loss
As you can see, the stop loss keeps you in the trade, even when there are retracements and reversals. Remember, the mission is to reach the target or exit with a 1% loss.

3. Liquidation of Half of Position to Lock in Initial Profit and Simultaneous Stop Loss Tightening
At this point, we zoom out to see that the first half of our position is liquidated. Ourr FractionProfit setting is 0.6 and our Take Profit target is 450 pips, which means that at 0.6 times 450, or 300 pips, it’s time to take some profit. Simultaneously, the stop loss moves to break-even plus 30 pips.

4. Exit at Profit Target
The second half of our position was closed out at the 450-pip profit level. In the aggregate, we made a gain of 4% of our account. As you can see from the chart below, it takes disciplined hands-off trading to reach the profit target.

It is only fair to warn you that the doors will close on omega Xray at Midnight, Thursday March 26th (Pacific Time, USA) to be exact.

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Gomega is the premier hands free automated forex trading suite from Quantum Research. With each release Gomega just keeps getting better and better, going from strength to strength. Becoming more profitable, more automated and easier to use. However the price continues to rise accordingly. The good news is that once you purchase Gomega, you become part of a privileged group who not only receive unlimited expert support in setting up and trading with Gomega, you also receive all future updates and releases free of charge.

Just released on the Gomega site are some more examples of Gomega in action.

Gomega Xray 30 Min pairs made 278% profit in one year

Gomega Xray 1 hour pairs made 492% profit in one year

Gomega Xray in brief:

• True Hands-Free, Brain-Free and Emotion-Free Forex Trading
• Unequaled Support * All Future Updates at no additional cost
• They guarantee you’ll make money or will refund the full price (conditions do apply, such as you must setup Gomega according to  their instructions and actually trade with it, either on a demo or live account.)

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