Greetings, forex earthlings! I tried to review the trade results for this new Inside Bar Momentum forex mech strategy for the month so far, but the numbers aren’t looking too good. Care to help a robot out?
First off, I’ve marked the valid inside bar signals on the entry candles in USD/JPY’s 4-hour chart.
Then I zoomed in to shorter-term time frames to see how the price ticks turned out before any early exit conditions were met.
If you prefer a table format, here’s a summary of the positions so far:
Yikes! It does look like a few tweaks need to be made in order to avoid getting wiped out on those quick pullbacks, and I’m liking some of the suggestions in my introductory post about rolling the stop to entry right away or maybe widening the stops a bit. In the second and third signals, it seems like the stops were unfortunately hit right at the bottom of the pullbacks before stronger momentum was established.
Still, it seems that I’m getting a bunch of feedback from folks who have already been able to code this mech system in a jiffy. I’m still trying to get a feel of the price action and entry/exit rules myself but I do look forward to tinkering with those EAs to optimize the strategy as well. Do share your thoughts in our comments section as always! Here are some books if you want to get deeper into building systems & algorithms. BabyPips.com receives a small credit from any purchases through the Amazon links above to help support the free content and features of our site…enjoy!