“Huck loves her bucks!” I always say. The problem, of course, is how to make those bucks!! In this blog, I'll be posting my adventures as I traverse the forex world, while trying to catch some pips along the way. To do this, I will make use of classical charting methods as well as develop my own 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
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 Trade
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!
XOXO,
Huck
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