This is true i.e. @Trendswithbenefits would have had you short all the way down.
The system I’m talking about would just have taken small profits on a daily basis is all. The trend following system would definitely have yielded better and cheaper results (not paying spread every day). But in not knowing the system too well: what happens when the trend ends and the chop starts (the system to which I’m referring works in a choppy market).
Put it this way: they both work (or would have worked on this pair). Maybe just a matter of personal preference and what suits you I guess. I know for a fact that trend following is not my strong point i.e. always am I tempted to, and have always done so, take profits way too early. It’s suits who I am far better to be in and out of the markets either intraday or every second or third day type of thing.
Also bear in mind I’m dependent on my trading to put food on the table. This also makes a big difference to how a person trades. I don’t have the luxury of being able to sit on positions for days, months, or weeks on end even if those are the more profitable trades. I know for sure I’d never be able to close out a trend trade, withdraw funds, and then get back in again i.e. I would always fear I was getting in late.
Basically the above two systems demonstrate nice what I was saying to somebody else on another thread just this morning. Your reasons and motivations and personal circumstances play a big part as to how you trade.