A couple of choppy trades wasn’t enough to stop the SMA Crossover Pullback mechanical system from catching a big win for the week. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
In my earlier update, EUR/USD made a new crossover and was followed by a stochastic pullback signal right after. I held my breath as price dipped close to the stop loss in the aftermath of the Italian referendum then I let out a huge sigh of relief when the climb resumed a few hours later. The pair initially spiked higher during the ECB statement, causing the trailing stop to get activated, but a sharp reversal took place so the position was closed.
Meanwhile, EUR/JPY was still doing fine and dandy with its uptrend, barely looking back to form new crossovers or pullback signals.
Cable had a long position opened from the other week with the trailing stop already in place. The pair hit its full PT early on Monday even after price gapped down over the weekend. *happy robot dance*
As for the choppy trades I mentioned earlier, AUD/USD paced back and forth throughout the week, causing new crossovers to form and trades to get closed early. Fortunately, one of those positions managed to snag a few pips.
|SMA Crossover Pullback Positions as of Dec. 9, 2016|
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
Ha! The SMA Crossover Pullback forex system was able to rake in a total of 407 pips or 2.71% in gains for the week even with range-bound conditions on AUD/USD and a few close calls. I can only wish that it was able to stay in the EUR/JPY uptrend for much longer, but I ain’t complaining with these recent wins.
So far, it looks like this quarter could overtake the system’s strong performance in Q3 but I don’t want to jinx it. 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!