Decided to make a quick video showing Gomega Xray in action. Gomega Xray closed the week with a balance of $6980, just slightly down from last weeks high. However just looking at the balance is somewhat 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 currently stands at $8059.24. Of course, if I were to have manually exit all the trades, this would be the approximate account balance.
Unfortunately the Metatrader platform isn’t able to include the equity balance detailed report chart. This, along with the account balance, would provide a much better representation of the trading performance.
To illustrate this point, I’ve decided to plot onto the chart produced by Metatrader, the equity balance at the end of each week. Each red dot represents the current equity balance at the end of each week. The green line is simply to illustrate an approximate equity balance curve. As the only equity balance data I have, comes 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 at regular intervals and draw a detailed graph at the click of a button.
Notice the red dots are not evenly spaced, as Metatrader plots the x 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, is just one week. That was the week before last week, which was a very active week for Gomega Xray. During that week, the massive discrepancy between the account balance and the equity balance became glaringly obvious. They were for much of the week moving in opposite directions, the account balance was falling while the equity balance was generally rising. Which would suggest the equity balance is a fairly good indicator of the future account position. This also makes sense as the equity balance includes the current 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 witness this phenomenon in action. Which is what initially motivated me to make the latest video.
Also see my Gomega GBP JPY Review and Live Results
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