A winning trade and a few new signals! It looks like this month is shaping up to be a pretty active one for the SMA Crossover Pullback forex mechanical system. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
In my update last week, AUD/USD had an open short position that managed to narrowly avoid hitting its trailing stop before eventually hitting its 300-pip profit target. *happy robot dance*
EUR/USD had a long position then but this had to be closed early on a new crossover. Soon after, a pullback took place and generated a short order at 1.1430.
GBP/USD formed a new downward crossover at the end of the other week, before showing a pullback signal towards the end of last week.
Lastly, the short position on EUR/JPY from way back eventually hit its full stop loss right before a new crossover formed. A long pullback signal was generated at 124.00.
Here’s a summary of the positions as of May 13, 2016:
|SMA Crossover Pullback Positions as of May 13, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
The SMA Crossover Pullback system was able to score a 35-pip win or a 0.24% gain on the account for last week, as one big win made up for a couple of losses. Not so impressive but not so bad either! Let’s see what the rest of the month has in store!