Finally, a double win for this trend-catcher system! Thanks to the FOMC minutes, both EUR/USD and GBP/USD yielded a few forex pips. Yay!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
Now THAT’s trend-catching! EUR/USD was happily boxed in a tight trading range until the FOMC event in the middle of the week. With Janet Yellen and her friends surprisingly dovish in their statement, the dollar ended up losing across the board. Good thing the system caught it with signal #8 yielding a nice 114 pips. This offset the losses and resulted to a net of 96 pips by the end of the week.
Though GBP/USD didn’t have as many trades as EUR/USD did, it yielded enough when it mattered. The HLHB System caught the FOMC move though it was prematurely cut by the stop adjustment rule. Hmm, do you think a 50-pip trailing stop too tight for major events such as the FOMC statement? Oh well, +15 pips isn’t too bad for trading just 4 signals throughout the week!
That’s it for my updates today! How about you? Are you working on any mechanical trading system?
P.S.: Remember to never risk more than 1% of a trading account on any single trade and to adjust position sizes accordingly. Create your own ideas and don’t follow what I do. Better yet, read the Risk Disclosure!