Note: This write-up has been rewritten and republished to reflect the updated rules.
Greetings, fellow Happy Hunters! The trading week is done, so let’s take stock of how the two Variants of the Happy Hunter Price Action Trading System fared this past week, shall we?
By the way, I’ve rewritten and republished the monthly evaluation to reflect the updated rules. If you’re interested to know how the two Variants fared under the new rules, then click on the link below.
Anyhow, below are the topics that we’ll be covering in today’s update:
- Must-Read For New Readers
- The Fixed TP Variant’s Trade Details
- The Trailing Variant’s Trade Details
- This Week’s Performance
- The “Bigger Picture”
If you’re a regular reader, then you may wanna use the relevant jump links above to go directly to the actual review.
But if you’re a new reader, then I insist that you read up on that part. Look! It’s right below. So go ahead and read it. Please?
Must-Read For New Readers
If you’re a first-time reader who stumbled across this write-up for some unknown reason, and you have no idea what this is all about, then just know that I crafted a purely mechanical trading system, pursuant to My 2018 Trading Resolution.
If that piques your interest and if you may wanna know more, then click on the links below to read about and understand the rules of the system.
- Updated: The Happy Hunter Price Action System (Fixed TP Variant)
- Updated: The Happy Hunter Price Action System (Trailing Variant)
However, let me just give these statements/disclaimers:
Firstly, I make no claim to the profitability of this system (I’m forward testing it after all), so if you use the system to trade real money without doing your own tests, that’s on you, whether you lose money or get lucky and make money
Secondly, there’s no central exchange for the forex market, so there may be discrepancies in our data feed, and it’s highly probable that I may have a valid signal based on my charts where none exist on yours (and vice versa)
Also, here are the parameters/assumptions for my tests, just in case you wanna follow along:
- Currency pair for the tests is GBP/NZD and only GBP/NZD
- We only use the 1-hour chart to trade
- Trading day begins at 12:00 am GMT+2 and ends at 11:00 pm GMT+2
- Starting account balance is $10,000
- Max risk per trade is $50 or 0.50% of starting account
- The lot size is variable, so learn to use (and love) the Position Size Calculator
- As I’ve been stressing since I laid down my plans in My 2018 Trading Resolution, I’m assuming a fixed spread of 12-pips in all my tests; this system was designed with strict cost control in mind, so variable/floating spread wasn’t even considered
- In cases where there are weekend gaps that would make the trade invalid (i.e. the market opens way beyond the TP or SL level), it’s assumed that the broker cancels pending orders, just like most of them usually do in real world conditions
- But for orders that were filled before the weekend gaps, it’s assumed that we get out at TP (even if the gap greatly favors the trade) or at SL (even if the gap is not in favor of the trade) because it’s assumed that the broker guarantees our exit levels, well, that or it’s assumed that we complain and/or threaten to close out our account with the broker
With all of that out of the way, it’s time to finally discuss how the week went.
Below you’ll find charts of each trading day of the week. And if you’re wondering what the numbers on the charts are about, they refer to the trade #, based on the chronological order when the signal was generated, not necessarily when the trade was opened or closed. And the details of each trade are contained in the table after the charts. Just scroll down.
The Fixed TP Variant’s Trade Details
The Trailing Variant’s Trade Details
This Week’s Performance
Trading conditions were very favorable during the past week, especially the high volatility days on February 28, March 1, and March 2.
And as a result, the Fixed TP Variant captured 3.83% in gains this week (+3.51% under the old rules) while winning 69.57% of trades and losing only in 30.43% of them, which is a very good performance.
The favorable trading conditions, especially the long downtrend from February 28 until March 2, also gave the Trailing Variant a boost, allowing it to capture 3.12% in gains (+3.07% under the old rules).
Do note that the Trailing Variant’s 3.12% gain is lower than the Fixed TP Variant’s 3.83% return for the week.
And the Trailing Variant underperformed the Fixed TP variant because of the choppy price action on February 26 and because the Trailing Variant’s bullish positions on March 2 (trades # 3, 4, 5, 7, 8) were all taken out below their respective TP levels when trade # 9’s sell stop order was triggered.
The “Bigger Picture” View
The Fixed TP Variant’s 3.83% gain this week more than doubled the system’s total return from +3.31% to +7.15%, which is pretty sweet.
The Trailing Variant, meanwhile, finally clawed its way back to breakeven last week but is in positive territory again, thanks to this week’s sweet 3.12% return.
Hopefully, trading conditions continue to be favorable. It would be even better if we see more price action similar to the strong downtrend from February 28 until March 2, since the Trailing Variant usually easily beats the Fixed TP Variant when GBP/NZD trends well, which is just natural, given the design philosophies behind each variant.
Okay, that’s all for today.
As always, I enjoy your feedback. So if you have any questions, or if you see a possible error in my work somewhere, or if you just want to say “hi” then don’t be shy and write a comment down below!
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.