It wasn’t one of the best weeks for the SMA Crossover Pullback system, but I’m still pretty happy with how early exit conditions trimmed losses. If you’re wondering what I’m talking about, make sure you look at the trading rules and risk management adjustments first.
EUR/USD made a new upward crossover, which was almost immediately followed by a stochastic long signal and closed early on a new crossover. A short pullback signal followed, but I’m not too confident that this trend is gaining traction either.
Cable had a long position from the other week but this was also closed on a new crossover before the downtrend took place. It took a while before a valid stochastic short signal materialized, but it does look like the trailing stop could get activated soon. Robot fingers crossed!
Unfortunately for EUR/JPY, the selloff reversed before the pair even had its trailing stop on the short trade activated. This position was closed on a new crossover with a small loss before a new pullback signal was generated.
Here are the latest positions:
Trade Summary:
| SMA Crossover Pullback Positions as of Mar. 8, 2017 | |||||||
|---|---|---|---|---|---|---|---|
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
| GBP/USD | Long | 1.2430 | 1.2280 | 1.2730 | Closed | -60 | -0.40 |
| EUR/JPY | Short | 119.65 | 121.15 | 116.65 | Closed | -40 | -0.27 |
| EUR/USD | Long | 1.0540 | 1.0390 | 1.0840 | Closed | -40 | -0.27 |
| GBP/USD | Short | 1.2290 | 1.2440 | 1.1190 | Open | – | – |
| EUR/USD | Short | 1.0605 | 1.0755 | 1.0305 | Open | – | – |
| EUR/JPY | Long | 120.10 | 118.60 | 123.10 | Open | – | – |
With that, the SMA Crossover Pullback System ended up with a 140-pip loss or a 0.94% dent on the account for the past few days. All the pairs I’m watching have new open positions at the moment so I’m staying hopeful that these trades can bag some pips that might make up for the back-to-back weekly losses.
So far, the mechanical system is still in the black for the first two months of 2017 and I’m positive that it can cap off the quarter strong and maybe even beat its Q4 performance. What do you guys think?