It’s another set of early exits for this mechanical trading system, but I’m seeing some green! Check out how the latest positions turned out.
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 had a long position left open in the earlier update, but the rally topped out a few bars later and a new crossover eventually materialized.
This was followed by a stochastic pullback signal to short, and this one’s still open with bearish momentum going for it.
Cable had a bearish crossover as the longer-term uptrend started to reverse, but the short stochastic pullback signal took some time to pop up. I hope I’m not too late to the selloff, but so far it’s looking good!
EUR/JPY’s long position from a few weeks back had to be closed as price tumbled to its trailing stop. It still locked in a teensy win, so this robot isn’t complaining.
Here’s how it all turned out:
Trade Summary:
| Pair | Position | Entry | SL | PT | Status | Pips | % |
|---|---|---|---|---|---|---|---|
| EUR/JPY | Long | 124.35 | 122.85 | 127.35 | Closed | +8 | +0.05 |
| EUR/USD | Long | 1.1440 | 1.1290 | 1.1740 | Closed | -58 | -0.38 |
| GBP/USD | Short | 1.2954 | 1.3014 | 1.2654 | Open | – | – |
| EUR/USD | Short | 1.1337 | 1.1487 | 1.1037 | Open | – | – |
| EUR/JPY | Short | 124.73 | 126.23 | 121.73 | Open | – | – |
All three pairs have short positions left open, but I’m not too worried about potential triple losses because these ones haven’t been so correlated these days. I do hope these end up as triple wins, though!
Have you checked out how this strategy fared for Q4 2018 yet? Or how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase?