HLHB Weekly Update – July 2, 2012

Definitely not a good week for me. Not only did one of my favorite Hollywood couples split, but I also lost on my GBP/USD trade and HLHB Trend-Catcher system. Boo!

HLHB Trend-Catcher

EUR/USD 4-Hour Chart

Here’s how my HLHB Trend-Catcher system fared last week:

1. Short at 1.2539. Closed due to new crossover at 1.2505. +34 pips.
2. Invalid long signal since RSI did not cross the 50.0 level.
3. Short at 1.2502. Closed due to new crossover at 1.2517. -15 pips.
4. Long at 1.2517. Closed due to new crossover at 1.2488. -29 pips.
5. Short at 1.2488. Trailing stop hit at 1.2493. -5 pips.
6. Long at 1.2496. Closed due to new crossover at 1.2486. -10 pips.
7. Short at 1.2486. Closed due to new crossover at 1.2503. -17 pips.
8. Long at 1.2503. Closed due to new crossover at 1.2494. -9 pips.
9. Invalid short signal since RSI did not cross 50.0 level.
10. Long at 1.2494. Trailing stop hit at 1.2475. -19 pips.
11. Short at 1.2460. Closed due to new crossover at 1.2448. +12 pips.
12. Invalid long signal since RSI did not cross the 50.0 level.

Total loss: -53 pips

Overall, my system generated 12 signals but only two ended up as winners. They weren’t able to offset the losses that the Trend-Catcher incurred, which led to the system closing the week with a 53-pip loss.

More than the loss though, I’m more upset that the Trend-Catcher didn’t catch the rally on EUR/USD. Had signal 12 been valid, my demo account could’ve ended the week in the green. Oh well, I guess I can’t catch them all!


GBP/USD 4-Hour Chart

As you all probably know by now, my GBP/USD didn’t work out so well. When price broke through support, I closed my trade early to avoid more losses. It was the right decision as price eventually hit my original stop loss.

Closed at 1.5530: -60 pips / -0.85%

What broke really broke my heart was that price soon reversed and rallied strongly after I had closed. Apparently, the EU summit caused a huge sentiment shift. Forex Gump wrote a very informative blog post on the result of the EU summit, you should check it out too! If I just had a wider stop and trusted my analysis better, I would be smiling right now instead of feeling down!

That wraps it up for this blog post. Hopefully, the upcoming week will be kinder to me!



Follow me on MeetPips.com
Follow me on Twitter
Like my page on Facebook

Like what you've read?
Join over 45,000 other traders who get our newsletter. Tutorials, EAs, chart setups, free forex trading systems, and more!
  • Gazi Nibras

    Using RSI(14) would have filtered out a lot of bad trades IMO.

    • zhexiang

      I don’t see how does that help. I use RSI(20) and still having many bad trades.

  • Rp

    These crosssover systems are good. However, one MUST do MTF with them to get a good confirmation IMHO ..newbie here