GoMega Xray Forward Testing

Decided to make a brief video to show Gomega Xray in action. Gomega Xray closed the week with a balance of $6980.77, which is a little down from last weeks high. However just looking at the balance is quite misleading, as it does not account for the many trades that are still open. I believe the more relevant number to look at, is the current equity balance, this is currently up to $8059.24. Of course, if I were to have manually closed out all the positions 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 chart for the detailed report. Including this along with the account balance, would provide a much better profile for the trading performance.

To illustrate this point, I’ve decided to plot the equity balance onto the account balance chart. Each red dot shows the end of week equity balance. 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 at the end of each week. It would be nice if a plugin were available for Metatrader that would log the equity balance and draw a detailed graph with the push of a button.

You may notice the red dots are not evenly spaced, as Metatrader plots the x axis on a per closed trade 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 had been a very active week for Gomega Xray. It was during that week, that the massive discrepency between the account balance and the equity balance became abundently clear. For much of the week they were moving in opposite directions, the account balance was falling yet the equity balance was generally rising. Of course the account balance will see a decline, if trades are exited if the stop loss is hit, the equity balance includes all open trades, many of which are likely to be closing in on their profit targets. Of course with Xray trading right in front of you, you can see this effect, first hand. Which is what motivated me to make the latest video.

For my review of the new Gomega GBPJPY, follow this link Gomega GBP JPY Review to see Gomega GBP JPY in action

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