Finally a big win for the SMA Crossover Pullback System! And one that’s more than enough to make up for its earlier losses. 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 new downward crossover but it wasn’t until the middle of the week that the pair followed up with a stochastic pullback signal.
Cable made a short pullback signal towards the end of the previous week and the selloff carried on until price hit its full profit target. Woot woot! *happy robot dance*
AUD/USD had a short position opened towards the end of the previous week but this had to be closed for a small loss when a new crossover formed. So far, no pullback signals have materialized yet.
Lastly, EUR/JPY finally made a convincing crossover, followed by a stochastic pullback short signal. However, this position had to be closed before the end of the week when the 150-pip trailing stop was hit.
|SMA Crossover Pullback Positions as of Sept. 23, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
With that, the SMA Crossover Pullback system ended the week with a 225-pip win or a 1.50% gain on the account. A bit of range-bound action was still in play for the euro pairs but fortunately the pound exhibited a strong selloff that took GBP/USD to its profit target.
Next week, I’ll be wrapping up the mechanical system’s performance for the quarter so make sure you stay tuned to see how the numbers add up. See ya then! 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!