HLHB Weekly Update – April 16, 2012

HLHB Weekly Update

If you’re wondering about why I didn’t post my HLHB Weekly post last week, it’s because I decided to move my updates to Mondays from here on out. I noticed that posting after the week seems more timely rather than making updates on Fridays.

That being said, how did the HLHB Trend-Catcher 3.0 fare last week?

EUR/USD HLHB Chart

1. Short at 1.3044. Closed when new crossover formed at 1.3076. -32 pips.
2. Long at 1.3076. Closed when new crossover formed at 1.3070. -6 pips.
3. Short at 1.3070. Closed when new crossover formed at 1.3072. -2 pips.
4. Long at 1.3072. Closed when new crossover formed at 1.3090. +18 pips.
5. Short at 1.3090. Trailing stop hit at 1.3109. -19 pips.
6. Long at 1.3091. Trailing stop hit at 1.3108. +17 pips.
7. Short at 1.3107. Closed when new crossover formed at 1.3119. -12 pips.
8. Long at 1.3119. Closed when new crossover formed at 1.3119. 0 pips.
9. Short at 1.3119. Closed when new crossover formed at 1.3141. -22 pips.
10. Long at 1.3141. Closed when new crossover formed at 1.3167. +26 pips.
11. Short at 1.3167. Still open…

Sad to say, my system has seen better weeks. The Relative Strength Index (RSI) was not able to filter out the fakeouts.

Consequently, the Trend-Catcher scored a loss of 32 pips for the week. But, but, but! When the pair finally trended, the system was able to jump in on the move. The last signal for the week, a short at 1.3167, is still open.

I’m pretty optimistic that this trade will turn out to be a big winner. It’s actually up 159 pips as of this writing.

EUR/USD Trade

EUR/USD Chart

My EUR/USD trade is turning out well. As you can see, I was able to enter at the top as price found significant resistance at the 50% Fibonacci retracement level. I still haven’t determined my ultimate profit target but I have decided to close half at 1.3000 and move my stop to breakeven.

While I keep my hopes up for both the HLHB system and my discretionary trade, I’m not really holding my breath to see my sister and her boyfriend get back together. I’ve done everything in my power to try and convince them to work things out.

Unfortunately, my efforts were in vain. My sister’s convinced her decision was the right one. She tells me that “Those who think it is permissible to tell white lies soon grow color-blind.”

It seems that there are more complicated factors that underlie their relationship which I don’t understand. But, oh well. At least they’re still friends and I don’t have to stop talking to my sister’s ex-boyfriend.

XOXO,

Huck

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  • Pipstriker

    Hi, there’s nothing wrong with using the RSI as a filter, but a period of 10 is probably too tight and is only going to mirror the price too closely. Why not try doubling the period to something like 20 and see how that goes? Hopefully that might help to avoid some of the silly fake-outs!

    • huck

      Hmm, good point. This is a small tweak and very doable. Perhaps I should do it for the next 3 months.

  • reno

    I’ve been experimenting with the macd using a host of different numbers versus the R.S.I.  I like the backtesting thus far.  As you may have guessed; very similar outcome- though fakeouts can be costly enough right?  My opinion on the personal saga…   Keep it simple the best you can, stay off the couch, get out and have a blast with all.  Stay optimistic.  Matters of the heart can become very complex and sensitive

  • riyan

    hello huck, i think it time to close the 11st trade. 5MA cross 10MA..  +121pips.. the system is not bad. the overall is +89 pips. maybe there is indicator that can filter the side way moves. another MA maybe:)? when i observe it again, at the side way, the trade become profitable (less losses) if the TP is fixed at 30 pips.

  • Johnnyfx91

    Glad to hear the system will be profitable this week! The previous couple of weeks were at a loss (by like 2K overall) which worried me. But it still seems HLHB will eventually need some tweeking. Pipstriker’s suggestion of going to RSI 20 seems like a great idea :)

    A fan,
    ~Johnny~