Talk about having a bad week! The Trend-Catcher missed a couple of coulda-been-winners. Argh! To make matters worse, it finished last week’s trading in the red! Here’s what happened.
Here’s a summary of the signals that materialized:
1. Invalid signal since RSI was not above 50.
2. Short at 1.2708. Closed at 1.2723 due to new crossover. -15 pips.
3. Long at 1.2723. Closed at 1.2711 due to new crossover. -12 pips.
4. Short at 1.2711. Trailing stop hit at 1.2711. 0 pips.
5. Long at 1.2715. Trailing stop hit at 1.2678. -37 pips.
6. Invalid signal since RSI was not below 50.
7. Long at 1.2742. Closed due to new crossover at 1.2770. +28 pips.
8. Invalid signal since RSI was not below 50.
Signals 5 and 8 could have closed with wins, but the trailing stop and the RSI kept the system from banking on pips. As a result, the Trend-Catcher finished last week’s trading with a 36 pip loss.
It’s all good though. Just like boys, I have to understand that every trading system isn’t perfect. Hopefully, this coming week turns out to be better than the last!
In other news, I decided to not take my EUR/USD trade. It turned out to be a very good decision as price dropped below the 61.8% Fibonacci retracement level (I normally place my stops below this retracement level).
That’s it for this update. Since I haven’t had any triggered trades in quite a while, I’m really excited for the coming trading week. I’m searching high and low for a good setup on the majors, so if you’ve got any suggestions, be sure to hit me up!
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.