Forex System Update: SMA Crossover Pullback (Feb. 22-26, 2016)

A bit of a slow week for the SMA Crossover Pullback forex system, as there were no new signals at all! If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.

As I’ve shown in my previous update, AUD/USD had a long position open but price barely made much headway past the .7250 area before the trailing stop was hit.

AUD/USD 1-hour Forex Chart

AUD/USD 1-hour Forex Chart

EUR/USD still has its short position open with the trailing stop in play, but price hasn’t made any sudden pullbacks and *spoiler alert!* eventually hits its 300-pip PT this week. Sorry, I couldn’t help it! Robots get excited, too!

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

The forex trends went on and on for GBP/USD and EUR/JPY so there were no new crossovers for these pairs lately.

EUR/JPY 1-hour Forex Chart

EUR/JPY 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

Here’s a summary of the positions as of February 26:

SMA Crossover Pullback Positions as of Feb. 26, 2016
Pair Position Entry SL PT Status P/L  (pips) P/L  (%)
AUD/USD Long .7105 .6955 .7405 Closed +5 +0.03%
EUR/USD Short 1.1125 1.1275 1.0825 Open

All in all, the forex mechanical system scored a measly 5-pip win or a 0.03% gain on the account, which may not be much… but at least it’s not a loss! I do wish EUR/USD made it all the way down to its profit target the other week so that February would round up to a very profitable month, but I’m not complaining about its  3.33% total gain. As my pal R2D2 would say “Beep beep boop!”

I’ve been getting a lot of requests for this system’s forex EA but unfortunately I’ve been extra busy rooting for Leo in the Oscars lately. I’ll definitely keep you guys posted once I’ve made some progress with it. Stay tuned!