Forex Grid Robot

It was a interesting week for my installation of Gomega Xray and perhaps for many automated EAs. I’ve had Gomega Xray trading a $5000 demo account with Alpari since April 21st, and it began the week with a balance of $6188. During the week it took a number of successive loses drawing its account balance down to well under $6000. Yet at the same time its equity balance was hovering around $7000. So on the one hand the results didn’t look so good at first, it was in a very good position overall.

Part of the explanation for the string of losses in my judgment is Gomega Xray trades multiple currency pairs and one of the entry standards is the cross currencies strength for each currency pair being traded. This is one of the many factors that gives Gomega the edge when determining whether to enter a new position. However this is a 2 edged sword. So if the market direction changes or goes against Gomega, Gomega will possibly have many tiny losses in a row as the stop losses are hit. Of course the opposite is true when Gomega is on the right side of a market swing, the result being many giant wins in a row.

This is exactly how last weeks trading had been. Gomega found itself on the wrong side of the market movement a few times as well as some positions that were spiked out as a result of some major news events. Those news events without doubt had sent a cascade of stop losses rippling across the markets. Maybe a great oppurtunity for a dedicated manual trader? However notwithstanding this, Gomega was still in the trade on several positions since the start of the week and before. And as the Euro continued to strengthen during the week, Gomega’s equity position continued to grow, though its balance was down.

By the end of the week, Gomega had closed out several positions it had been holding and ended the week with a balance of $7296 and equity of $7478. So that was a gain of $2296 or 45% in less than one month.

While the weeks trading didn’t produce a nice smooth balance curve, the final result is still really impressive. If Metatrader were able to show an equity curve that encompassed the equity balance, it would be easier to visualise how the trading situation had progressed. Another limitation of the chart s produced by Metatrader are that the horizontal axis is constructed on a closing trades basis rather than a fixed unit of time. So the end result is a somewhat distorted view.
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