HLHB Weekly Update – February 24, 2012

Ayayay! My Trend Catcher System 3.0 raked in a handful of fakeouts as EUR/USD was stuck in a consolidation for the most part of the week.

EUR/USD 1-Hour Chart with Trend Catcher Signals

Unlike last week, EUR/USD consolidated for the first three days of this week. Consequently, my system raked in one fake out after another! But before I get to the bad part, I’m happy to report that the last signal which materialized last week (Long at 1.3042) closed at 1.3234 with a 192-pip win!

Now without further ado, here’s how my system did this week:

  1. Crossover at 1.3234 not valid. RSI was not below 50.
  2. Bought at 1.3259, closed on new crossover at 1.3231: -28 pips.
  3. Sold at 1.3231, closed on new crossover at 1.3255: -24 pips
  4. Bought at 1.3255, closed on new crossover at 1.3234: -21 pips.
  5. Sold at 1.3234, closed on new crossover at 1.3249: -15 pips
  6. Bought at 1.3249, closed on new crossover at 1.3234: -15 pips
  7. Sold at 1.3234, closed on new crossover at 1.3240: -6 pips
  8. Bought at 1.3240, closed on new crossover at 1.3230: -10 pips
  9. Sold at 1.3230, closed on new crossover at 1.3238: -8 pips
  10. Crossover at 1.3238 not valid. RSI was not above 50.
  11. Sold at 1.3227, closed on new crossover at 1.3242: -15 pips.
  12. Bought at 1.3242, trade still open…

Total gain/loss for the week: -142 pips

It was a really bad week for me. My USD/CHF trade ended up with a loss and the HLHB Trend-Catcher did not produce a profit. Nevertheless, I have to keep my chin up and move on. Losses are part of trading and not every week will end up positive.

This goes not only for me, but for other traders as well. It’s okay to feel down, but what’s important is for you to look past those losses and focus on the process.

XOXO,

Huck

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  • Cldchc

    did you never try to change your ema 10 close to ema 6 open? It seems to be more accurate crossover.

    • huck

      Not yet, as the system is still profitable with its current settings. If you have backtested it, perhaps you can share the result with me and the rest of the BabyPips.com community? I’m sure they’ll appreciate it!

  • Shindhu Manob

    I prefer not to use it in RANGING period. It is obvious that moving average crossover system gives FAKE signal in ranging period.

    It would be better to find out the RANGING period ourselves manually and wait for the range breakout. After the breakout we may start following our system.

    “No Trade is a part of Trading”……

  • SexyForex

    Are you waiting for the retest during the breakout? If not, then that’s why you always end up with a fake out.

    • huck

      I normally do but at that occasion I was feeling confident on my trade and wanted a larger R:R ratio. Sadly, it did not work out.

  • Szgabor

    The original amazing crossover system uses HL/2 for RSI setup.  Why do you use close price for RSI?  The close price is better than HL/2?

    • huck

      I think both are acceptable. Is the HL/2 better? If it is, I may revert to it… Have you tested it?

      • Szgabor

        I use only on demo account, but it give different entry points than RSI with close. I don’t know what is better.