Another position hit its full stop loss for the SMA Crossover Pullback system but I’m positive that the remaining trades could make up for it. 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, GBP/USD had a short position open but unfortunately this was stopped out on a huge spike up. Argh!
EUR/USD formed a new crossover on a sharp rally towards the end of the other week and a stochastic pullback signal soon materialized late last week. Am I the only thinking that this may have happened too late?
As usual, EUR/JPY was in Chopsville but it’s actually looking like the only pair that might yield a big win for the mechanical system this time. Keeping my robot fingers crossed!
Lastly, AUD/USD still has its long position from the previous week open with the trailing stop activated so I can breathe a little easier with this one.
Here’s a summary of the positions as of June 10, 2016:
|SMA Crossover Pullback Positions as of June 10, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
All in all, the system ended with a 150-pip loss or a 1% dent on the account with the GBP/USD position hitting its full stop loss. There are still a few positions open, one with its trailing stop in play and another closing in on its profit target, so this mech system could still turn around. Stay tuned for my update next week! 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!