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Things still ain’t looking up for this mechanical trading system as it got caught up in another set of early exits. Take a look!

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 bullish crossover in the earlier update that was followed by a valid long position. Unfortunately this didn’t last very long as a bearish crossover came after.

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

On the upside, this early exit actually scored a few pips for the pair. I know it’s not much, but at least it ain’t another loss!

Meanwhile, Cable had a lot going on as one position got closed after another. Just like EUR/USD, this pair managed to scrape some pips off these early exits.

GBP/USD 1-hour Forex Chart
GBP/USD 1-hour Forex Chart

Lastly, EUR/JPY also snagged an early exit with its long position but wound up with a loss. A valid short position was opened soon after.

EUR/JPY 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart

Here’s how the positions are looking:

Trade Summary:

SMA Crossover Pullback Positions as of July 23, 2019
Pair Position Entry SL PT Status Pips %
GBP/USD Short 1.2520 1.2670 1.2220 Closed +9 +0.06
GBP/USD Long 1.2408 1.2258 1.2708 Closed +13 +0.08
GBP/USD Short 1.2435 1.2585 1.2135 Open
EUR/JPY Long 121.80 120.30 124.80 Closed -32 -0.21
EUR/JPY Short 121.33 122.83 118.33 Open
EUR/USD Long 1.1258 1.1108 1.1558 Closed +4 +0.02

And with that, the system wound up with a 6-pip or 0.05% loss on the account, chalking up its ninth losing week in a row. It’s significantly smaller compared to the earlier losses, but I’m still bummed out that the system hasn’t been able to catch a win in a long while.

A couple of positions are still left open for now, and it’s been pretty tough to stay hopeful that these could avoid early exits in the days ahead. Ugh!

Make sure you check out how this system fared in Q2 2019 and how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase!