There was a lot of pip movement during the EU referendum week, but did the SMA Crossover Pullback System catch any of these? 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, EUR/USD had a short position left open but this was closed on a new crossover around the middle of the week. A stochastic signal materialized soon after but price eventually hit the trailing stop just slightly above entry. Phew!
GBP/USD had an upward crossover and a buy signal mid-week, just a day before the EU referendum officially started. Fortunately, the profit target was hit before price dropped like a rock! *happy robot dance*
EUR/JPY, which already had a winning trade in the previous week, had no new crossovers or signals last week.
Lastly, AUD/USD had a short position from the previous week but this was closed on a new crossover. Soon after, a long signal materialized but was stopped out at breakeven when the Brexit results were announced.
Here’s a summary of the positions as of June 24, 2016:
| SMA Crossover Pullback Positions as of June 24, 2016 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| GBP/USD | Long | 1.4665 | 1.4515 | 1.4965 | Closed | +300 | +2.00 |
| EUR/USD | Short | 1.1250 | 1.1400 | 1.0950 | Closed | +36 | +0.24 |
| AUD/USD | Short | 0.7425 | 0.7575 | 0.7125 | Closed | -50 | -0.33 |
| EUR/USD | Long | 1.1250 | 1.1100 | 1.1550 | Closed | +30 | +0.20 |
| AUD/USD | Long | .7460 | .7310 | .7760 | Closed | 0 | 0 |
All in all, the system ended with a 316-pip win or a 2.11% gain on the account with one big win on GBP/USD and a couple of small wins on EUR/USD. No other positions were left open by the end of the week so I guess I’ll have a chance to round up the Q2 performance numbers for this mechanical system in my next update. Stay tuned! 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!