GoMega Xray Forward Testing
Decided to make a quick video to show Gomega Xray in action. Gomega Xray closed the week with a balance of $6980, just a bit off its high of last week. However just looking at the balance is somewhat misleading, as there are many trades that are still open. I believe a more relevant number to look at, is the current equity balance, which is now up to $8059.24. After all, if I were to have manually closed out all the positions then this would would then be represented in the account balance.
It is unfortunate that the Metatrader platform doesn’t include the equity balance in it’s chart for the detailed report. This, along with the account balance, would provide a much better representation of the trading performance.
To illustrate this point, I decided to plot onto the chart produced by Metatrader, the equity balance at the end of each week. Each red dot shows the end of week equity balance. The green line is a simple approximation of the equity curve. Of course the only equity balance data I have, comes from the detailed weekly reports generated by Metatrader and I’ve only been generating those once per week. It would be nice if there were a plugin for Metatrader that would log the equity balance at regular intervals and produce a detailed graph with the push of a button.
You will notice the red dots are not spaced evenly, as Metatrader plots the horizontal axis on a per position closed scale, not on a linear time scale. So the distance between the 5th and 6th red dot from the left, represents just 1 week. That is the week before last, which was 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 glearingly obvious. While the account balance fell for much of the week, the equity balance was flux but generally rising. Of course the account balance will see a decline, as several trades are closed at the stop loss value, the equity balance includes all open positions, 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 phenominon in action. Which is what motivated me to make the latest video.
Also see my Gomega GBP JPY Review and Back Tests, Forward Tests and Live Results
Mail this post