New euro trends seem to be working out for the SMA Crossover Pullback forex mechanical system lately. 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 was left with a long position open but this had to be closed on a new crossover. A stochastic pullback signal materialized soon after.
Cable’s downtrend is still going strong but, unfortunately, there still haven’t been any new crossovers that’d allow the system to hop in the selloff.
AUD/USD had a downward crossover from the previous week but it took a while before a stochastic pullback signal to short popped up.
Lastly, EUR/USD is establishing a downtrend also and a stochastic pullback signal to short near 1.1200 materialized. Price has already dropped more than 150 pips so the trailing stop is already in place. So far, so good!
|SMA Crossover Pullback Positions as of Oct. 14, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
With that, the SMA Crossover Pullback system ended the week with a 95-pip loss or a 0.63% dent on the account. It looks like new trends are just starting to gain traction, except on GBP/USD, so I’m keeping my metal fingers crossed that the open positions would turn out profitable. Do you think the system can follow up its strong performance like it did for Q3? Stay tuned for my next updates! 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!