It’s just the usual handful of signals from this mean-reversion mechanical trading system. Read on to see if any of these caught big wins.
In this revised version of the Short-Term Bollinger Reversion Strategy, I’m waiting for RSI to cross above or below oversold or overbought levels to indicate a bit more momentum in the direction of the trade. Make sure you review the tweaks here.
USD/CAD had a long position left open from the earlier update, but sadly this still tumbled all the way down to hit the full stop.
A new signal came up towards the end of the week, but this one is still open.
CAD/CHF had an initial short position opened earlier on in the week, but this had to be closed early when a new one popped up.
Fortunately this second short play turned out quite well, as it hit the first target at the middle band then went on to close the rest of the position at the opposite band.
With that, this pair was able to make up for the earlier loss with a teensy pip and a 0.02% gain. However, the full loss on USD/CAD still puts the Short-Term Bollinger Reversion strategy down by 49 pips or 0.98% for the week. Ouch!
Still no big rebound in sight for this mech system, huh? Do you think I should start thinking about new changes again or just trust that it could pull off a good finish like it did in Q4 2018?