Greetings, fellow Happy Hunters! The trading week is done and a new one will soon begin, which means that it’s time to take stock of how the two Variants of the Happy Hunter Price Action Trading System fared this past week.
And below are the usual topics that we’ll be covering in today’s update:
- Must-Read For New Readers (click to jump to this part)
- The Fixed TP Variant’s Trade Details (click to jump to this part)
- The Trailing Variant’s Trade Details (click to jump this part)
- This Week’s Performance (click to jump to this part)
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.
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 up on the rules of the system.
- The Happy Hunter Price Action System 4.0 (Fixed TP Variant)
- The Happy Hunter Price Action System 4.0 (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)
With 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
After last week’s very impressive performance, the system turned in a mixed performance this past week since the Fixed TP Variant closed out the week with a 0.06% scratch while the trailing Variant only captured a measly 0.18% in gains.
And the system’s not-so-impressive performance this week is due to the fact that trading conditions deteriorated.
The choppy, sideways price action during the later half of Monday (October 8) and the first half of Tuesday (October 9) were particularly terrible since both Variants went into a losing streak and both were forced to shed 2.54% in gains.
Fortunately, volatility levels were elevated for most of the week, so most of the winning trades were able to hit TP and many of the losing trades had their SL moved to RSL, which allowed the Fixed TP Variant to close out the week with only a scratch instead of a gaping wound.
And in the Trailing Variant’s case, it actually had a head start since last week’s open trades were closed at slightly better prices and the Variant was also able to ride the strong downtrend on Monday, which allowed the Trailing Variant to hit a fresh high water mark of 14.80% for the month.
The losing streak also took its toll on the Trailing Variant, though. In fact, the Trailing Variant didn’t do too well for most of the week. Even so, the Trailing Variant did have a head start, and that gave the Trailing Variant a large enough buffer to eke out a small win instead of closing out the week with a loss.
Also, here are the stats for both Variants as of October 12.
This week’s not-so-impressive performance wasn’t unexpected, I suppose. After all, I did warn last week that there’s a chance that trading conditions may deteriorate since GBP/NZD was approaching the area of interest at 2.0390.
Well, it looks like I was right since 2.0390 did act as resistance on Monday and again on Wednesday and Thursday.
I’m still mainly bullish on the pair and I still expect bulls to shoot for 2.0680 next, provided that 2.0210 holds as support. But if support breaks, then the pair will likely be moving lower towards 1.9980.
Either way, we get some volatility and directional movement. I just hope the pair doesn’t start trading sideways between 2.0390 and 2.0210 since that will raise the odds that the Trailing Variant may start shedding its gains.
Okay, that’s all I’ve got for today! And 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!
By the way, if you want to know how the system fared in September, then you can do that by clicking on the link below.
And if you need to check out the previous week’s performance, then go ahead and click on the link below.