GoMega Xray Trading Action
Just thought I’d make a brief video showing Gomega Xray in action. Gomega Xray closed the week with a balance of $6980.77, just a bit down from last weeks high. However to just look at the balance is a little 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 equity balance, this is now up to $8059.24. Of course, if I were to manually closed out all the positions then this would be the approximate account balance.
It is unfortunate that the Metatrader platform doesn’t include the equity balance detailed report chart. Including this along with the account balance, would give a significantly better profile for the trading performance.
In order to illustrate my 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, is from the detailed reports Metatrader has generated and I’ve only been producing those at the end of each week. It would be great if a plugin were available for Metatrader that would log the equity balance at regular intervals and produce a nice graph with the click of a button.
You will notice that the red dots are not spaced evenly, as Metatrader plots the horizontal axis on a per trade closed scale, not on a unified time scale. So the distance between the dot 5 and 6 from the left, represents just 1 week. That is the week before last week, which was a very active week for Gomega Xray. It was during that week, that the massive variation between the account balance and equity balance became abundently clear. For much of the week they were moving in opposite directions, the account balance was declining yet 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 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 above video.
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