As you probably know, my EUR/USD trade didn't turn out well. But it's all good! I'm still a happy camper because my HLHB Trend Catcher 3.0 had a good week, ending it with a 376-pip win!
Since my last update, six more crossovers materialized for the week. Three ended up as winners, one incurred a loss, and two were not valid trades because they didn't meet my RSI condition. Here's the breakdown:
1. Short at 1.2796, closed at 1.2678 (+118 pips) when a new crossover materialized.
2. Crossover at 1.2678 wasn't a valid trade because RSI wasn't above 50.
3. Short at 1.2664, closed at 1.2679 (-14 pips) when a new crossover materialized.
4. Long at 1.2679, closed at 1.2737 (+58 pips), when a new crossover materialized.
5. Crossover at 1.2737 wasn't a valid trade because RSI wasn't below 50.
6. Long at 1.2747, closed at 1.2947 (+200 pips). Maximum profit target hit!
Adding all 'em pips up, my system was up 376 pips for the week! That's huge!
This year is starting out opposite of how I ended 2011. My discretionary trading is sucking but this tweaked version of the Amazing Crossover system is performing extremely well! But I guess it's only been barely one month, and anything can happen in the next 11 months.
The reason why I lost this week was my failure to recognize the major shift in market sentiment. A few weeks ago, the dollar was gaining due to euro zone debt troubles. But the positive news from the region, like ECB President Mario Draghi's optimistic speeches, and the possibility of Greece finally coming to an agreement with bondholders by Saturday, completely turned this around.
Unfortunately, I remained stubborn and I was slow to change my gloom and domo bias. As a result, my account took another unneeded hit! Ahh, drawdowns our part of trading - I can't win them all! For next week, I promise to re-asses my views and come up with a more solid market analysis.
XOXO,
Huck
Follow me on MeetPips.com
Follow me on Twitter
Like my page on Facebook
Add me to your Circles on Google+
On Friday January 20th, 2012 at 04:59AM by ToneCapone - Like - 0 People
On Friday January 20th, 2012 at 05:00AM by ToneCapone - Like - 0 People
On Friday January 20th, 2012 at 05:00AM by ToneCapone - Like - 0 People
On Friday January 20th, 2012 at 06:27AM by RamenHero - Like - 0 People
this is the system she is using: http://www.babypips.com/blogs/loonie-adventures/new-system-for-2012-trend-catcher-3.html
i believe she trades on the 1H tf when 5 and 10 ema crossover and when RSI crosses 50.
On Friday January 20th, 2012 at 07:21AM by ramlied - Like - 0 People
On Friday January 20th, 2012 at 10:09AM by hipipotamus - Like - 0 People
On Monday January 23rd, 2012 at 05:00PM by don555 - Like - 0 People
On Monday January 23rd, 2012 at 05:18PM by greed - Like - 0 People
On Tuesday January 24th, 2012 at 02:23AM by Huck - Like - 0 People
@hipipotamus I don't think there is a way to backtest your system here. It only records trades you take moving forward
@ramlied The tweaked version wasn't backtested, but the original version, the "Amazing Crossover" was backtested by Robopips a few weeks back. Here's the result: http://www.babypips.com/blogs/art-of-automation/backtesting-results-amazing-crossover-system.html
On Tuesday January 24th, 2012 at 02:24AM by Huck - Like - 1 Person
@greed Thank you!
@don555 I don't know what an HLHB calculator is either... Do you mean my system?
On Tuesday January 24th, 2012 at 10:34AM by don555 - Like - 0 People
Yes Huck I meant your system
On Tuesday January 24th, 2012 at 12:15PM by don555 - Like - 0 People
On Tuesday January 24th, 2012 at 12:20PM by don555 - Like - 0 People
On Wednesday January 25th, 2012 at 07:30AM by Huck - Like - 0 People
For the Trend Catcher, just refer to this: http://www.babypips.com/blogs/loonie-adventures/new-system-for-2012-trend-catcher-3.html
The settings for my Stochastic on the discretionary strategy is 14, 3, 3! :)
On Wednesday January 25th, 2012 at 02:53PM by don555 - Like - 0 People
Thanks Huck
Would you reccomend using it on any other pairs apart from EUR/USD
On Thursday January 26th, 2012 at 07:09AM by Huck - Like - 0 People
Should work on the majors. I would avoi cross currencies since their ATRs vary greatly.
On Saturday January 28th, 2012 at 12:11PM by don555 - Like - 0 People
On Wednesday February 1st, 2012 at 09:09PM by ToneCapone - Like - 0 People
Huck, do you wait for the cross then the rsi to cross. Or do you waith for the cross and the rsi already above or below the 50 level. or do they both have to cross at the same time?? also! have u heard of inside bar trading?
On Thursday February 2nd, 2012 at 05:59AM by Huck - Like - 0 People
@don555
Crosscurrencies are those currencies that don't include the USD. (EUR/JPY, EUR/GBP, AUD/JPY, etc)
ATR is the average true range, or the amount of pips a pair moves given a certain time period.
On Thursday February 2nd, 2012 at 06:01AM by Huck - Like - 0 People
@ToneCapone
It has to happen at the same time!
I have heard of inside bar trading, and even though I don't trade like that, I think it's a good breakout strategy!
Leave A Comment
Please sign in to comment.