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
The (very) Happy Hunter Trading System followed up last week’s lackluster performance with a pretty solid performance this past week.
To be more specific, the Fixed TP Variant closed out the week with 3.09% in gains, while the Trailing Variant captured a slightly bigger 3.72% in gains. Also note that the win rate of both Variants came in at 66.67%.
And this week’s good run was due to the elevated volatility and the somewhat choppy downtrend that started last Thursday and persisted throughout the entire week.
This is what I’m talking about, by the way.
And if you’re wondering why the Trailing Variant only slightly outperformed the Fixed TP Variant, that’s because the hourly candles were relatively large and intraday price action was rather choppy, so the Trailing Variant’s winning trades had a difficult time riding the trend and/or preserving whatever profits have already been accumulated.
The price action on Thursday (October 18) and Friday (October 19) are good examples of what I’m talking about.
As you can see above, GBP/NZD traded steadily lower during those two days. And as you can also see, the system generated a bunch of trades in the direction of the trade (trades # 62, 63, 64, 65, 66, and 69).
However, the choppy price action meant that trades # 62, 63, 64, and 65 were not able to ride the downtrend on October 19 since they were closed out when trades # 67 and 68 (longs) were triggered. Moreover, trades # 64 and 65 were closed out at SW, while trade # 66 was a net loser, even though it got the overall direction right.
Trade # 69 is also a victim of the choppy price action. See that downtrend after trade # 70? Well, trade # 69 wasn’t able to ride that because it was closed out when trade # 70 was triggered.
So, yeah, trading conditions weren’t particularly favorable for the Trailing Variant.
The Fixed TP Variant didn’t mind the choppy price action too much, though, since there was enough volatility to hit TP on the majority of trades.
And this past week’s gains mean that both Variants are now printing very impressive numbers for the month so far.
Anyhow, GBP/NZD’s downtrend this past week was one of the scenarios I considered last week, so GBP/NZD’s price action and the system’s performance weren’t too surprising. What surprised me, however, was the strength of the downtrend since I only expecting a downward move to 1.9980 if 2.0210 fails to hold as support.
Well, the 2.0210 didn’t even act as support since the pair gapped lower at the start of the week. And while the pair did trade around 1.9980 for some time, it eventually moved lower past that before bouncing off 1.9760.
And it just so happens that 1.9760 is the broken resistance of the broken ascending triangle that I’ve been mentioning since July.
I’m still somewhat bullish from a technical perspective, but if 1.9760 fails to hold, then 1.9550 would likely be the next area of interest that the bears will be gunning for.
But if 1.9760 does hold, then a move towards 2.0210 by the end of next week seems probable.
Doesn’t really matter, though, as long as the pair doesn’t trade sideways between 1.9980 and 1.9760.
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 review how the system performed in September, then you can do that by clicking on the link below.
And if you need to check out how the system fared in the previous weeks, then go ahead and click on the links below.
- Week In Review At The Happy Hunter’s Lodge (Oct. 1-5)
- Week In Review At The Happy Hunter’s Lodge (Oct. 8-12)