HLHB Weekly Update – February 1, 2013

EUR/USD

EUR/USD 1-Hour Chart

Ugh. It was another rough week for the HLHB Trend-Catcher as EUR/USD mostly ranged. To add insult to injury, the last signal for the week was invalid. It was the only one that showed promise, but the RSI was did not allow the system to enter the trade.

Here’s the complete summary of the crossovers that were generated:

1-8. Invalid signals since RSI never crossed the 50.0 level.
9. Long at 1.3329. Closed at 1.3323 when 50-pip trailing stop was hit. -6 pips.
10. Short at 1.3313. Closed due at 1.3322 to new crossover. -9 pips.
11. Invalid long since RSI was already above 50.0 in the candle prior the crossover.
12. Short at 1.3314. Closed at 1.3318 due to new crossover. -4 pips.
13. Invalid long since RSI was already above 50.0 in the candle prior the crossover.
14. Invalid short since RSI was already below 50.0 in the candle prior the crossover.
15. Long at 1.3332. Closed at 1.3304 when 50-pip trailing stop was hit. -28 pips.
16. Short at 1.3282. Closed at 1.3319 due to new crossover. -37 pips.
17. Invalid long since RSI was already above 50.0 in the candle prior the crossover.
18. Short at 1.3311. Closed at 1.3317 due to new crossover. -6 pips.
19. Invalid long since RSI was already above 50.0 in the candle prior the crossover.
20. Short at 1.3311. Closed at 1.3341 due to new crossover. -30 pips.
21. Long at 1.3341. Stopped out at 1.3291. -50 pips.
22. Invalid short since RSI was already below 50.0 in the candle prior the crossover.
23. Invalid long since RSI was already above 50.0 in the candle prior the crossover.

Total pips: -170 pips

GBP/USD

It was almost the same sob story for GBP/USD. The system wasn’t really able to filter out the fakeouts. Boo!

GBP/USD 1-Hour Chart

1-2. Invalid signals since RSI never crossed the 50.0 level.
3. Long at 1.5857. Closed at 1.5815 when 50-pip trailing stop was hit. -42 pips.
4. Short at 1.5823. Stopped out at 1.5873. -50 pips.
5. Long at 1.5869. Closed at 1.5847 due to new crossover. -22 pips.
6. Short at 1.5847. Closed at 1.5853 when 50-pip trailing stop was hit. -6 pips.
7. Long at 1.5874. Closed at 1.5843 due to new crossover. -31 pips.
8. Short at 1.5843. Closed at 1.5847 due to new crossover. -4 pips.
9-12. Invalid signals since RSI never crossed the 50.0 level.
13. Long at 1.5813. Stopped out at 1.5763. -50 pips.
14. Short at 1.5778. Closed at 1.5813 due to new crossover. -35 pips.
15. Long at 1.5813. Closed at 1.5778 when 50-pip trailing stop was hit. -35 pips.

Total pips: -275 pips

This is the second week of (big) losses for the Trend-Catcher. I’d be lying if I said I’m happy with it. However, I do understand that there’s no such thing as a perfect system. It just so happened that the market ranged and there wasn’t really any trend on either pair for my system to catch.

I still haven’t given up hope so I’m sticking to my current rules and parameters on the Trend-Catcher. I just wish the following weeks turn out to be better.

XOXO,

Huck

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