It’s a mixed run for this mech system this time as it caught a fairly even number of wins and losses for USD/JPY and GBP/JPY. Take a look!
If this is the first time you’re reading about this forex strategy, I suggest you take a look at the system rules before reading on.
Also, this version makes use of an adjusted stop loss size on both USD/JPY and GBP/JPY.
The size of the stop loss was adjusted from the original 20% of the first candlestick to 40% of its length.
First up, here’s what went on with USD/JPY:
This pair was off to a running start as it caught a couple of valid inside bar signals early in the week.
Momentum didn’t pick up so strongly for the first play while the second position saw a more sustained follow-through.
The rest of the week went on with not many signals until a long play popped up towards the end.
Here’s how it all turned out:
Now here’s what went on with Guppy:
This pair managed to catch three valid inside bar signals this week as well.
The first one was a long position that didn’t gain much traction before another long play was opened.
This second position enjoyed stronger bullish momentum, followed by yet another long play before price consolidated.
As you can see from the table below, the first long play got stopped out while the next two fared much better:
USD/JPY wound up with a 14-pip loss for the week while GBP/JPY closed with a 14-pip gain, resulting in a break-even run for the mech system.
I can’t say I’m not a bit disappointed that all these opened positions didn’t generate any pips at all, but at least it wasn’t a total loss, right?
The percentage win/loss depends on how position sizes are calculated.
ICYMI, check out how the Inside Bar Momentum Strategy fared for Q1 2020 and how other mech systems are stacking up in Forex Ninja’s Systems Showcase!