You win some, you lose some. After a few weeks of stellar gains, the SMA Crossover Pullback took a hit with a short EUR/USD position lately. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
EUR/USD made a new crossover after hitting its full PT the other week, but this was quickly stopped out when price popped up sharply the other day. A new upward crossover is forming, though, so I’m keeping my robot fingers crossed that the uptrend will continue and that the system can catch another wave higher again.
EUR/JPY is also carrying on with its uptrend but it still hasn’t formed any new crossovers, which means that there have been no valid stochastic pullback signals as well.
GBP/USD appears to be cruising sideways as both the pound and the dollar have weakened recently, but a new downward crossover formed and a stochastic pullback signal to short followed. This position is still open for now.
Here are the latest positions:
Trade Summary:
| SMA Crossover Pullback Positions as of May 17, 2017 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| EUR/USD | Short | 1.0930 | 1.1080 | 1.0630 | Closed | -150 | -1.00 |
| GBP/USD | Short | 1.2900 | 1.3050 | 1.2600 | Open | – | – |
And with that, the system is down 150 pips or 1.00% on the account! It looks like the SMA Crossover Pullback system is still in the middle of a break after raking in strong gains back in April. Even though I’m not exactly thrilled about the quick loss on EUR/USD, I’m looking at the silver lining and thinking that this sets the strategy up for a new uptrend pullback opportunity.
I’m still feeling a bit unsure about the open short position on Cable but I guess I just have to trust the system rules in that it’s likely to stay profitable in the long run in case this one churns out another loss. Just gotta review its impressive Q1 2017 performance to remind myself that just a few big wins could make up for these hits and more!
