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Not exactly the best of runs for this mechanical trading system as it snagged full losses on euro pairs. Here’s the damage.

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, and this didn’t gain any bullish momentum at all as the pair went straight for its full stop loss.

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

With that, the pair chalked up a 150-pip dent on the long position before a new crossover even occurred.

This bearish crossover was quickly followed by a stochastic pullback signal to short, but price is still going nowhere for now.

Cable already hit its trailing stop on its long play in the previous post before a fresh bearish crossover popped up.

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

So far so good on this one as price seems to be making some headway south.

I’m just keeping my robot fingers crossed that the pair dips by more than 150 pips from its entry so that the trailing stop will get activated!

As for EUR/JPY, the pair’s earlier long position also didn’t have any bullish momentum on its side. Instead, price went the opposite direction and hit its stop loss in a couple of days.

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

A new short position was opened after a bearish crossover took place, but this was stopped out as well. Argh!

Here’s a look at the latest positions:

Trade Summary:

SMA Crossover Pullback Positions as of May 12, 2020
Pair Position Entry SL PT Status Pips %
EUR/USD Long 1.0945 1.0795 1.1245 Closed -150 -1.00
EUR/JPY Long 116.85 115.35 119.85 Closed -150 -1.00
EUR/JPY Short 114.90 116.40 111.90 Closed -150 -1.00
GBP/USD Short 1.2396 1.2546 1.2096 Open
EUR/USD Short 1.0840 1.0990 1.0540 Open

Bah! Three positions all hit their stop losses throughout the week, yielding a 450-pip or 3% loss.

This forex strategy has yet to chalk up a positive week for this quarter. Ugh!

Check out how this system fared in Q1 2020 and how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase!