It’s time to review the first few trades of the SMA Crossover Pullback forex mechanical system… and they’re not looking too good. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first. Oh, and I’ve got the compiled results for Q1 2016, too!
The system seems to be off to a bumpy start since we’ve seen a lot of rallies and reversals in the past few days. EUR/JPY had a long position open and this one’s still going but is currently in the red.
AUD/USD also had a new crossover and a long pullback signal. So far, it’s been moving sideways so I guess I’ll have to wait and see how this turns out.
GBP/USD also had a long signal but this one quickly got stopped out when the pair sold off last Friday.
Lastly, EUR/USD had a long position opened and this one’s not looking too bad. I hope I didn’t jinx it, though!
|SMA Crossover Pullback Positions as of Apr. 3, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
So for the latter half of last week, the SMA Crossover Pullback forex mechanical system incurred a 150-pip dent or a 1% loss on the account. Price action has been extra jittery these days and that’s not working out too well for this trend-following strategy, but I’m hoping the choppiness will fade soon. ‘Til my next update!