This strategy snagged a couple of losses and one win that managed to put it in the black for the week, but by how much?
If this is the first time you’re reading about this forex strategy, I suggest you take a look at the system rules before reading on.
Also, this version makes use of an adjusted stop loss size on both USD/JPY and GBP/JPY.
The size of the stop loss was adjusted from the original 20% of the first candlestick to 40% of its length.
USD/JPY had a couple of valid signals for the week, with the first one being a short play and the second being a long position.
The long position also came within striking distance of its target before retreating. Ugh!
Fortunately the losses weren’t THAT big. Here’s the damage:
Now here’s what went on with GBP/JPY:
Fortunately this sole position turned out to be a win!
With that, the Inside Bar Momentum Strategy is up by…
*drumroll, please*
ONE PIP!
I know it ain’t much and it probably would’ve resulted in a tiny loss, given the pip spread in real-world conditions. But hey, at least it’s not a week deep in the red!
The percentage win/loss depends on how position sizes are calculated.
See how the numbers added up for Q4 2020!