HLHB Weekly Update – July 30, 2012

HLHB Trend-Catcher

EUR/USD 4-hour Chart

My HLHB Trend-Catcher System‘s performance last week was as action-packed as the Olympics! Although there were no big trends on EUR/USD, it still closed with a 150-pip gain! Well that is adding the last trade from the week prior.

Remember trade number 12 from my HLHB update last week (short at 1.2258)? It closed at 1.2117 when the 50-pip trailing stop got hit and garnered a 141-pip win.

For last week, my system generated 11 trades and finished with a net win of 9 pips. Not bad if you ask me since EUR/USD was pretty volatile.

Here’s a rundown of the trades that materialized:

1. Long at 1.2126. Closed due to new crossover at 1.2111. +15 pips.
2. Short at 1.2111. Closed due to new crossover at 1.2077. +34 pips.
3. Invalid long signal since RSI was not above 50.
4. Invalid short signal since RSI did not cross 50.
5. Long at 1.2090. Trailing stop hit at 1.2120. +30 pips.
6. Short at 1.2130. Closed due to new crossover at 1.2156. -26 pips.
7. Long at 1.2156. Closed due to new crossover at 1.2124. -32 pips.
8. Short at 1.2124. Trailing stop hit at 1.2167. -43 pips.
9. Long at 1.2224. Trailing stop hit at 1.2281. +57 pips.
10. Short at 1.2248.Traling stop hit at 1.2292. -44 pips.
11. Long at 1.2310. Trailing stop hit at 1.2328. +18 pips.

Total Gain (including last week’s open trade): +150 pips

EUR/USD Short

EUR/USD 1-hour Chart

Unfortunately, my discretionary trading did not perform as well. I struck out again, bringing my losing streak to three.

This time, it was the result of ECB President Mario Draghi’s pledge. According to him, the central bank would do everything in its power to make sure the euro remains intact. This proved to be extremely beneficial for the euro, as it staged a major rally versus the dollar.

Stopped out at 1.2250: -100 pips / -1.0%

Ah, well… I hope there are better days ahead. My confidence is shot, and I need to come up with a winning trade soon…

XOXO,

Huck

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  • M Vanvliet

    Hi, What about using the dynamic RSI indicator with the
    HLHB Trend-Catcher System
    link to detrademanager.nl… 

    • Buster-48

       care to post this in english anyone ?

  • M Vanvliet

    Realise me now that most of you don’t speak Dutch. The article in the comment below is about a RSI indicator combined with Bollinger bands to make the RSI less static. It is invented and used by the wellknown Dutch stock analist Nico Bakker.

  • Pip Demon

    That must have been a fabulous opening trade! Do tell….

  • JJ6845616

    You are a perfect system follower.I think that you should give more importance to fundamentals to your discretionary trading.

    • huck

      That’s true. It’s frustrating because Draghi’s statement was such a big surprise!

      • Teddyj0406

        Fundamentals are important, but let’s face it….you are not Mrs. Cleo. Who the hell knows when news like that will be released? The answer is no freaking body. From what I can tell, there are a couple of things that you can do to improve your trading. #1 Be a sniper-only go for the perfect shot. Example, take a look at the daily candle on eur/usd for 07-27. Notice the rejection? That is a sell signal if I ever saw one. Always check your daily candles. #2 Quit trying to go for the 200 pips moves. 10 pips a day can make you a millionaire. What makes you think that you can get those huge gains every trade? That is a rookie mistake. Lock in profits and cut losses early.

        • JJ6845616

          So what if the reward:risk ratio goes bad?Like you said “Don’t go for 200 pips moves and lock profits”

          • Teddyj0406

            How often do you actually think you will hit a target like that? Aim for higher highs or lower lows. Nikitafx has a great thread that you should check out at link to forums.babypips.com… I dont plan on making a thread, but my trading approach is very similar to this

        • Buster-48

           half the time though teddy, candles seem to lead you up the garden path.

      • JJ6845616

        Of course it was..but don’t be frustrated.After all,it won’t happen always.