Summary
Phil Anderson notifies subscribers that the Mexican Pete model portfolio’s long position in Westpac Banking Corp (WBC) hit its stop loss during the trading week of 26 March 2026. The stop was deliberately kept tight relative to entry given the current position in the economic cycle. Anderson uses the update as a teaching moment on asymmetric return profiles and the importance of keeping losses small as the foundation of long-run trading success.
Key Claims
- WBC long position was stopped out — stop was placed close to entry by design, reflecting caution given cycle positioning — confidence: high
- Mexican Pete setups naturally lend themselves to risk control by placing initial stops at the most recent higher low before a breakout — confidence: high
- Asymmetric returns (large average wins relative to average losses) are achievable even with a low win rate — confidence: high
- Summary portfolio statistics (win rate, average gain vs. average loss) for all Mexican Pete trades will be published soon — confidence: medium
- Stops should be trailed gradually after entry, allowing room for normal retracements — confidence: high
Mex Pete References
- WBC (Westpac Banking Corp, ASX): Long trade entered on a Mexican Pete / ascending triangle breakout setup. Initial stop placed at the most recent higher low in the pattern prior to breakout. Stop triggered this week, resulting in a small controlled loss.
- General methodology described: stops begin at the most recent higher low, then trail progressively with the trend while accommodating normal retracements.
Stock Picks / Signals
- WBC (Westpac Banking Corp, ASX-listed)
- Direction: Long (now closed)
- Signal status: Stop loss triggered — position exited
- Stop placement: Close to entry; set at most recent higher low before breakout
- Price target: Not specified
- Outcome: Loss (described as small/controlled)
Predictions / Forecasts
- Upcoming publication of Mexican Pete model portfolio aggregate statistics (win rate, average gain, average loss) — no specific date given.
Notable Quotes
“The key to successful trading in the long run is by creating asymmetry in your results, which means having large average wins relative to your average loss.”
“The key to successful trading starts with keeping losses small.”