Got a bunch of new positions on this mechanical trading system, but early exit signals were quick to pop up. Did it still catch some pips?
If this is the first time you’re reading about the SMA Crossover Pullback system, make sure you look at the trading rules and risk management adjustments first.
EUR/USD did make a bullish crossover after a signal-free week in the previous update, and a long stochastic pullback followed.
However, this position had to be closed the next day when a downward crossover popped up. Fortunately, the early exit still managed to lock in a few gains before a new short signal materialized.
Cable had no crossovers or pullback signals for yet another week, as the would’ve-been bullish crossover didn’t push through.
Lastly, EUR/JPY hit its trailing stop in the previous update, and a new long signal followed. However, this also had to be closed on a new crossover as price moved mostly sideways, and this yielded 10 pips in gains.
To summarize, here are the latest positions:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | P/L (pips) | P/L (%) |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Long | 130.84 | 129.34 | 133.84 | Closed | 10 | +0.06 |
| EUR/USD | Long | 1.1787 | 1.1637 | 1.2087 | Closed | 25 | +0.16 |
By the looks of it, more declines are in the cards for these pairs I’m watching, and it’s a pity that the indicators didn’t really line up for a new short position on Cable. Oh well, let’s see how it goes from here.
ICYMI, check out this system’s performance for Q1 2018!
