A not-so-good week for this forex trend catcher system, as it lost a couple of pips from both EUR/USD and GBP/USD. What the heck happened?!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
It wasn’t the lack of directional moves that killed the system’s profits from EUR/USD. Signal #4 would’ve done A LOT to mitigate the system’s losses, but the move was cut off by the system’s tight 50-pip trailing stop loss. Hmm, does this mean that I should make tweaks to prevent these events from happening in the future?
The system’s performance on GBP/USD is a classic example that more trades don’t necessarily mean more profits. Cable popped up a whopping 22 signals for the week alone! Only 5 signals were valid though, and 4 of them turned out to be losers. By the end of the week the system is down 29 pips from the pair.
Fingers crossed for waaay less fakeouts next week!