Finally a winning week 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, EUR/JPY had a short position open before the pair broke below its consolidation, tossed and turned a little, then eventually made it all the way down to the profit target.
Cable’s new crossover from the other week was followed by a long stochastic pullback signal that seemed to be going pretty well until the BOE announced a more aggressive stimulus plan than anticipated. Fortunately, the 150-pip trailing stop was already in place by then so the long trade was stopped out at breakeven.
EUR/USD also had a new crossover but the pullback signal took longer to materialize, and it looks like it may have popped up too late.
Lastly, AUD/USD also showed more bullish momentum after its upward crossover, forming a pullback signal before buyers started pushing price higher. Robot fingers crossed that this turns out a winner!
|SMA Crossover Pullback Positions as of Aug. 5, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
All in all, the SMA Crossover Pullback system ended up with a 300-pip win or a 2.00% gain on the account for the week, thanks to the short EUR/JPY trade. There are still a couple of positions left open and one’s looking good so far. Here’s to hoping that these setups turn out to be big winners just like my fellow robots Michael Phelps and Simone Biles in the Rio Olympics! (Yep, they’re definitely not of this human world, that’s for sure.) ‘Til my next update! 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!