Back-to-back hit! No thanks to the ranging environment, the HLHB Trend-Catcher System lost two trades this week. Boo!
Read all about my HLHB Trend Catcher System if this is your first time hearing about it!
As I’ve mentioned before, I’ve decided to stick to my second tweak in my forward tests for the next couple of weeks. Basically, I’m adding the ADX indicator as a filter on top of the RSI and applying all of them on the 4-hour time frame instead of last year’s 1-hour charts.
Read: HLHB System’s Q1 2017 Results
Here are the results from the last full week of May:
EUR/USD
GBP/USD
USD/JPY
After opening a new trade last week, I finally closed USD/JPY’s open position this week…for a 10-pip loss. As you can see on the chart above, all was well at the start of the week until the pair saw a mid-week reversal. Unfortunately, USD/JPY hasn’t moved down enough for me to adjust my stop to break even. As a result, I closed the position with a 10-pip dip.
I had two other signals to distract me during the week, though. First, EUR/USD popped up a sell signal on a strong candle and proceeded to move lower. I have now limited my losses to 41 pips.
GBP/USD also printed a valid signal. Unlike in EUR/USD, though, I was on the wrong side of a strong move. Thanks to the U.K. elections, the long trade I had ended up with a loss of 53 pips. Not so bad considering that the system lost out to a fundamental catalyst, but it does make me consider putting up rules regarding trading during top-tier events. What do you think?
P.S.: Remember to never risk more than 1% of a trading account on any single trade and to adjust position sizes accordingly. Create your own ideas and don’t follow what I do. Better yet, read the Risk Disclosure!