Greetings, forex earthlings! After closing the previous week with a tiny win, the SMA Crossover Pullback barely made any additional gains despite the strong trends lately. If this is the first time you’re hearing about this mechanical system, better take a look at the trading rules and risk management adjustments first.
Here’s how it all went down:
As I’ve shown y’all in last week’s update, AUD/USD still had a short position open and now the 150-pip trailing stop has been activated to lock in at least a 0.53% gain on this one. I’m crossing my robot fingers this pair reaches the profit target at .6755 eventually, though.
As for GBP/USD, there have been no new crossovers yet, as the downtrend has been really strong.
EUR/USD made a new crossover but there have been no stochastic pullback signals generated last week.
EUR/JPY made a new crossover towards the end of the week, probably to be followed by a stochastic pullback signal soon after.
Here’s a summary of the positions that were closed and left open as of January 15:
|SMA Crossover Pullback Positions as of Jan. 15, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
Quite a lot, huh? Just kidding!
While I’m a bit bummed that this forex system wasn’t able to stay in the steady trends for much longer, the silver lining is that it didn’t chalk up any losses either. After all, it’s designed to hop in large pullbacks so I’m just patiently waiting for potential corrections that could generate more trade signals.
Have any of you guys tried this system out yourselves? I’m thinking of rounding up your ideas and coming up with another batch of tweaks soon so I’m hoping to get your feedback!