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Consistency

Mechanical Consistency Weekly Review 4; +10% Return.I humbly apologize for the extended hiatus, as I was navigating through some profoundly personal challenges. Despite the setbacks, I’m pleased to share that my trading endeavours have not only persisted but also yielded remarkable results. Miraculously, each of our trades has culminated in a profitable outcome, marking a pristine 100% success rate. Allow me to delve into the details below. Monday (07 August 2023) My mechanical strategy was executed flawlessly, defying its initial parameters geared towards an upward trend. I managed to secure profits at Take Profit 1 and adeptly adjusted the stop loss to breakeven just as the price trajectory began to shift in a downward direction. Tuesday (08 August 2023) By looking at the very first candle of the day, I changed my strategy bias to align with the emerging downward trend. This astute shift allowed me to initiate a mean reversion trade, effectively attaining success at Take Profit 1 while seamlessly riding the ongoing downward trajectory. Wednesday (09 August 2023) Maintaining a downtrend bias, my strategy once again demonstrated its prowess by executing a trade during the retracement phase, flawlessly achieving both designated take profit levels without incurring any drawdown whatsoever. As the day progressed, my strategy seamlessly activated a mean reversion trade, hitting the bullseye with Take Profit 1. Furthermore, I skillfully managed to conclude the remaining trade at a slight deviation level come Thursday. Thursday (10 August 2023) Similar to Tuesday, my strategy adeptly initiated a trade during a retracement, adeptly securing gains from both take profit levels. This time around, the trade unfolded over a span of approximately 2 days, culminating in a graceful and satisfying closure. Friday (11 August 2023) During this period, our trading activity remained non-existent. The absence of substantial trading volume resulted in an inability to generate price movement of significance. Endnote This week was truly exciting for me. It’s the first time in my 4 years of experience that I’ve won every single trade in a week. This success proves without a doubt that my consistent mechanical strategy works perfectly, which has made me much more confident in my trading approach.
OANDA:XAUUSDEducation
by Barry_Games_Trading
Mechanical Consistency; Gold (XAUUSD) Trade Review for 01 AugHi, This is a trade review for 01 Aug 2023. Here are some details for the trades. OANDA:XAUUSD 1-hour time frame 2% per trade 1 loss, 1 win (trade still open with take profit 1 achieve) Net -1% currently. Disclaimer: Not Financial Advice! I'm just sharing my trading journey. Please take it as educational content. Thank you! Tuesday, Gold fails the upward push and falls below the market structure, triggering and losing my first trade. Luckily, the price is able to hold at my 2nd trade level. Retracing back to my first take profit level, recovering half of my loss. The 2nd is currently still open with 0 risk running. As a full-time working individual, I do not have the time to constantly monitor the charts and look out for the "perfect" trading opportunity. This is why I adopt the mechanical trading strategy to earn extra money. This approach eliminates the need for extensive technical or fundamental analysis and removes any guesswork. It is a 100% Mechanical rule-based strategy, ensuring disciplined and consistent decision-making. Here's how it works: Immediately after the 1st-hour candlestick closes either below or above the 21 EMA (Exponential Moving Average), you place precise Buy/Sell limit orders. Once all parameters are meticulously set, you can confidently attend to your daily routine, including your day job, while entrusting the market to dictate the trades. If you are interested to learn my strategy, please visit my blogging site, link in BIO. Thank you!
OANDA:XAUUSDEducation
by Barry_Games_Trading
Mechanical Consistency; Gold (XAUUSD) Trade Review for 25 JulyHi, Just sharing my trading journey with you guys! Disclaimer: Not Financial Advise, just sharing my trading journey. Please take it as educational content. Thank you! As a full-time working individual, I do not have the time to constantly monitor the charts and look out for the "perfect" trading opportunity. This is why I decide to adopt the mechanical trading strategy to earn extra money. This approach eliminates the need for extensive technical or fundamental analysis and completely removes any guesswork. It is a 100% Mechanical rule-based strategy, ensuring disciplined and consistent decision-making. Here's how it works: Immediately after the 1st-hour candlestick closes either below or above the 200 EMA (Exponential Moving Average), you place precise Buy/Sell limit orders. Once all parameters are meticulously set, you can confidently attend to your daily routine, including your day job, while entrusting the market to dictate the trades. For the trade on 25 July 2023, I manage to profit a 0.5R with my mechanical approach without any analysis.
OANDA:XAUUSD
by Barry_Games_Trading
3
👻3 Steps To Become A Professional Trader👻 Becoming a professional trader is not an easy task. While trading may seem exciting and lucrative, it requires dedication, discipline, and a sound understanding of the markets. In this article, we’ll share with you three key steps to becoming a professional trader. 🌺Step 1: Build a Strong Foundation Before beginning your journey as a trader, it’s essential to build a strong foundation. This involves educating yourself about the financial markets, including learning about different trading strategies, technical analysis, risk management, and market psychology. The good news is there are plenty of resources available online to learn about trading principles and strategies. Another part of building a strong foundation involves studying the market and practicing with demo accounts. Demo accounts allow you to practice trading in a simulated environment that replicates the real market. 🌸Step 2: Develop a Trading Plan Developing a trading plan iscrucial to becoming a successful trader. A trading plan should outline your objectives, risk management strategies, trading rules, and decisions about entry and exit points. It would help if you also identified what type of trader you are, whether that’s a day trader, swing trader, or a position trader. A trading plan gives you a framework to base your trading decisions on, which can help you remain disciplined and make smart choices based on data, not emotions. 🌼Step 3: Consistency is Key Consistency is key in trading. It’s not enough to have a single profitable trade; you need to be able to make profitable trades consistently. To achieve this, you need to have patience, discipline, and a strong mindset. One of the essential aspects of consistency in trading is understanding and managing risk. This involves limiting potential losses and setting profit targets to ensure you don’t go overboard. Lastly, you need to set realistic expectations and maintain good habits like keeping a trading journal, analyzing your trades, and continuously improving your trading strategies. In conclusion, while there isn’t a specific recipe for success when it comes to trading, these three steps outline the fundamental elements of becoming a professional trader. With dedication, effort, and discipline, you too can make a living or even a fortune from trading! Please cheer me up with a like and a nice comment😸❤️ Please, support my work with like and comment! Love you, my dear followers!👩‍💻🌸
Education
by AnabelSignals
8
Targets Matter TooIt may not seem like it is very critical, but let's use two traders as an example. Trader #1 on the left uses targets. They know the move may be way bigger than what they target, but every time they close a position, they can re-enter again, keeping a small risk for consistent reward. Trader #2 on the right wants a home run every trade, and they do not use targets. They know big moves happen and they want it (greed) If they risk small, evetually they will get the home run trade, but at what cost? Trader #1 had a great day. They took 7 trades and lost two. Final results +135 points (150 won from 5 x 30, -15 from 2 lost) They had a consistent hit rate, closed several winners, and never had to stress about the charts because their move was over in a few minutes. No grey hairs today. Trader #2 however sees how trader #1 does things, and thinks, "that's no good. All those tiny trades and short targets, they could just make one trade and make HUGE! that's what I'll do...." They see a possible entry, and it works. Price gets jumpy and they get excited "This just has to go forever! I'm rich! Beat that other trader!" They have to go to sleep eventually and let the trade run. When they wake in the morning, they find they were stopped out. How? It left with so much momentum there's no way it would come back! :( Now trader 2 wakes up to a bad trade, which makes the rest of the day terrible. Why couldn't they catch that and close it? It's ok, I'll try again. Set another trade, watch for hours, walk away and same result. Constantly getting stressed and worrying about the stop being hit, because they don't have a target that makes sense. Maybe they do put targets in eventually, but then the "This is a home run!" sets in, and they remove the target, because hey, one trade for 300 pips is better than 10 for 30, it's just logical, right? Stop hit after stop hit, and eventually, the account goes kaput. Had trader#2 copied the target mentality, And set even a slightly beyond reason target, they still have more chance of success than the "Home run hunter" Yes, the 100 r trade is awesome, I'd like to have one. The only problem with hunting that massive winner is it will cost you a lot more than just some money. It will cost you time, stress, sanity, and make your head grey before it's time. So is the home run really worth this? I'll leave that decision to the individual, but numbers don't lie. The trader with targets is doing well. They can even raise their lot sizes with confidence, and know that when they lose 4 times, it's a bad day (Because of R:R) and stop to keep the account healthy. The trader without a target just keeps losing trades, deals with constant excitement and doubt, can't leave the charts, and can never be confident enough to trade beyond a minimum size, because they have been stopped out so many times, what if they take the risk and it (likely) fails, like all the other trades..... And they never grow the account, even if they do all the other things right. They may get profitable, but they won't ever grow exponentially, because the confidence will never agree with the trade, and they won't be able to hold it long enough to be worth it. Targets are where consistency comes from. This is especially true about scalping. DON'T BE GREEDY! Set a target and take the money. Stop letting a fast candle delete your target. Often times, price will run, you remove the target, and u-turn right to the stop loss (probably reaching the target you had). Don't delete a winner and get knocked out by a stop run over volatility. They also can not get a solid statistic for trades, and never gain the certainty in putting the risk on the line. Trader #1 can do whatever they want. They know how often they win, how well the system they use works, and they know about what to expect for a return on a good day, so they can trade any amount and let it run to the target without panic. They know out of 10 trades, they lose 4 times. Because of the R ratio, If they use the same value for the lot stops, they will make money no matter the trades play out..... Comfortable, no greed, certain, and highly profitable to a point of exponential account growth. That's how they do it.... So, pick a R ratio, 1:2-3-4. Use it consistently, and then tally the results. After some practice, you can find a good ratio that works for your trading style. The larger the ratio, the less you will win. The math is on your side though, because 1:3 only needs to win 4 out of 10 times to make money... Pick one that fits your strategy/style/level of patience, and you may find a big difference in your trading consistency. Consistency is what really makes or breaks an account. Consistently hit targets, account will grow. Consistently enter, wait days, and stop out will surely ruin the account over time. Stop the account demise with targets, and ALWAYS have a target if you find yourself breakeven or stopped out often.
Education
by ForexStoryteller
gbpjpy analysis - 27 mar 2023okay so on GJ it's a bit of a tricky one but i'll try put it into words... - firstly i identified the overall trend to be bearish on the daily and weekly as well - down to the H4 market has been bullish since friday morning but then it turned bullish after creating a lower low, so right now it could be going up to form a new lower high but we will see - so i'm currently waiting for market to get to my 161.599 zone and see what it does when it gets there but i will be anticipating a bearish move once it gets there - or waiting for a breakout of the zone on the H1 to go short as well but we sit and wait to see what happens
Short
by K0KETSO
gold analysis - 27 mar 2023salut salut, comment allez vous? ;) my analysis is a follows... - on higher timeframes such the daily and the weekly market has been in a range and has formed a double top on those time frames - from last week thursday market respected a level of major resistance and was then bearish ever since - the bearish move has broken out my upward trendline and market is currently at the support of the range - what i will be doing now is waiting for a break of that support/neckline of double top then a restest for me to go short - my stop will be above the breakout candlestick then take profit at the next major level of structure and lastly if my edge happens i am taking the trade and then wait to see what happens
GShort
by K0KETSO
nas100 analysis - 24 mar 2023- on the weekly we are bullish due to market breaking out of major resistance earlier this year around jan 23rd - and then the market went on to form a new higher low point around the previous lower high point which was broken - now we are currently at the high high point and market showed signs of respecting that level during the last week but has held it's bullish momentum this week and i see it breaking out the higher high - down onto the daily market has been in a range for 3 days but today's daily shows some buying pressure - currently waiting for the range on the H1 to breakout to the upside to go long, i am leaning more towards being bullish also because on lower timeframes market is forming HH'S and HL's - if it breaks to the downside i'll revisit my analysis and make a decision from there - tp and sl are as shown on the chart God bless :)
NLong
by K0KETSO
gold analysis - 23 mar 2023hope all you man are good here's what i see on igolide! - on the weekly and daily we are strongly bullish as seen by the long candlesticks - down to the H4 market broke out a level of resistance and retested that level as seen by he long wick on the current H4 candlestick - on the M30 and M15 i am waiting for a higher low point to make entry - my stop will be a few pips below the lowest point of the range - take profit is at the resistance level but overall projections are for the next major level of structure at 2016 - again anything can happen, market could be bearish but we will see i will stick to what i see but stand to be corrected/wrong
GLong
by K0KETSO
1
gold analysis - 13 mar 2023i hope all you great traders are doing well! here are my observations on gold... - at the market open of this new week, a gap was formed and since open price has been around the 1887 resistance zone - on the H4 we can see 4 candlesticks respecting that zone and showing signs of a bearish move - a consolidation zone was formed so a break of this zone will show us the direction in which the market will move but i am strongly bearish at the moment but we will see what happens - currently waiting for a break of a intraday support zone on the M15 and a retest for me to short gold - my tp will be at the 1866 price level but i will monitor how market reacts to the support of the consolidation zone - like with every other trade there is no 100% guarantee that it will play out accordingly
G
by K0KETSO
s&p 500 analysis - 03 mar 2023hope all you traders are doing great! here are my observations of the s&p... - so for two days (thursday and wednesday) the market was at a level of support, and price tried to breakout of this support level (on lower time frames) but broke back in to show that it has been respected - the rejection of yesterdays daily candle are seen as an inverse head and shoulders on the H1 - yesterdays candle closed off bullish, and with a lot of momentum seen by the long body - and it broke through an intraday level of resistance 3968.71 which is now our support, but price has already retested that level on the london open - so now i am currently waiting for my peach resistance to get broken and i will go long on the retest of that zone - but i could be wrong this is just what I THINK WILL HAPPEN ;)
ULong
by K0KETSO
1
Sniper Trading System EURUSDThere is genius in simplicity. On Friday's the market typically reverses. So we use the Data of the previous days of the week to determine where price is and if it's time for a reversal. A simple chart analysis of this pattern let's the Snip0er know what direction price is going:) It's been a great week of trading with you all and showing you my Sniper Trading System. Never over leverage. Trust your trade set up. Have Fun!!! I Am Trading Made Simple. Master Jedi & Sensi of #SniperGang
Long
by Master-Jedi-Trader
1
gbpjpy analysis - 01 mar 2023happy first of the month!! hope we all have profitable months :) so here it goes... - on the daily market closed below the downward trendline yesterday - down to the H4 a bearish engulfing formed closing two previous bullish candles - a head and shoulder pattern formed which is more clearer on the H1 - entry could have been taken at the london open where the right shoulder formed - but now we WAIT for a breakout of the neckline and depending on how aggressive your entries are you can enter at the immediate breakout or wait for a retest of the neckline - and just like every other trade I DO NOT KNOW WHAT WILL HAPPEN NEXT, i'll just act on my edge and SEE WHAT HAPPENS
Short
by K0KETSO
2
us30 analysis - 27 feb 2023hope all you successful traders are doing great and cheers to a profitable week! here goes my us30 analysis... - on the daily timeframe market respected a level of support and closed above it - down on the H4 and H1 market formed a double bottom and broke its neckline - also forming HH and HL around the significant level of support - so the two peach yellow zones are where i'll be looking to catch this move so a retest of the 32875 or wait for the 32912 zone to get broken then i'll go long - but market could carry on being bearish so we'll see what happens
ULong
by K0KETSO
gold analysis - 24 feb 2023my top down analysis goes like this... - market broke out the 1829 level of support on the daily support - yesterdays daily candle retested (broke in and broke out) to respect that level of structure which is our new resistance - currently on the H4 market is still respecting structure and is showing signs of a bearish move with the long wicks - just took a trade on those wicks but i'll be monitoring what market does because i see signs of an inverse head and shoulder which could work against us - but tp is at 1812 and sl is placed at 1828 above the wicks so we'll see which one gets hit today
GShort
by K0KETSO
2
nas100 analysis - 06 feb 2023too late with publishing this trade i took on nas100 but my reasons were as follows - a double top formed last week at a significant resistance level - market then broke the neckline of that double top - waited for a retest of that neckline which occured at the london open and the new york open - waited for a formation of a lower high on the M5 after the rejection than placed my sells - take profits are at the 12187 level then we'll see what price does when it gets there
NShort
by K0KETSO
S&P 500 analysis - 06 feb 2023hope all you guys are doing fantastic here's my analysis for the s&p 500 - market made a higher high at around 4190 - then went on to make lower highs while breaking higher lows - initial entry could have been taken last week thursday, but market showed signs of continuation and at the london open it retested the support level where my entry was taken - take profits are at 4083 and we will see what the market decides to do when it gets there - if it breaks that support i will wait for a retest and go short, if it respects that level then i will look for a bullish reversal pattern and/or wait for the formation of a higher low point where i will place my long trades God bless! :)
UShort
by K0KETSO
Trade setups I would take and how to manage riskJust like this. Buy and sell limits above and below structure, as in the most recent highs/lows, with your TP in general being a return to structure. Brutally easy way to scalp and make money. Few more examples... This one shows where the stop loss might be. In general, I go with a 2/3 or 3/4 type rule, where I'll have a wide cluster of limits, then a gap, then a hard stop that closes all of them. Just in case. Your order clusters should be wide enough with this strategy that it almost never gets hit. Regular market movement should not be hitting your stop loss. That kind of behavior should generally be reserved for news events that catch you off guard. Now as far as actual risk goes, this is entirely determined by you and no one else. There's no single correct way to do this. A lot of people are dead set on the idea that you should never risk 10% of your account, but how big is the account? Is it $10,000? Is it $100? If it's $100, why not risk $50+ when the odds of a loss are very low? On EUR/USD, you might have a hard stop loss of 50 pips with 15 tickets separated by 2 pips each. Each ticket would be 1k (0.01 lots). If 1 pip on a 1k is $0.10, then a 50 pip stop loss is $5. Your second ticket is 2 pips away, so that loss would be $4.80. Third $4.60, and so on. It's doable, right? Maybe the price dips 20 pips into your counter-trend limit cluster, eating 10 limits. Then the price returns to the support or resistance near your starting point, and you decide to close all of your tickets. The profits from that would be $2.00, then $1.80, then $1.60, and so on. That might not seem like much in comparison to the stop loss, but consider this: your stop loss will have a 0-5% chance of ever getting hit. It's straight profit. And it's constant, and consistent. I cannot stress that enough! You can be doing this all day long. So, what if you want to follow a trend in this manner? It's the same deal, really... just throw limit orders below (or above) trending wicks. Like this: It's all just structure. You bet with structure, and you bet against structure. At all times. You only require a 50% retracement from your starting ticket in order to break even. If you even feel uncomfortable with what's going on in front of you, it doesn't take much for you to get out safely and start over with a new cluster of limits. There is absolutely nothing wrong with closing out safely. You'll be trading so frequently you aren't even a little bit obligated to let things "play out". Maybe you don't like how quickly the momentum built into your cluster, and it retraces down to the 50% area so you wanna break even, but then you start laying more limits above and below because you believe that momentum is likely to slow down. I'm gonna tear down a phrase that I'm sick of hearing: the trend is your friend . The trend could be the worst friend you've ever had. Sometimes he's really cool, and he's the life of the party. But he really likes hanging out with you, especially when nothing is going on. He really likes to wait! He doesn't exactly value your time, and he's perfectly content sitting in a chair next to you watching paint dry. He smacks the remote out of your hand when you try to turn on the TV. This trend guy can be a real jerk sometimes. You also suspect he might be bi-polar, because sometimes when you get excited to do things with him, his mood shifts the moment you open your mouth and suddenly the fun has been sucked out of the room. That is the trend. On some pairs like USD/JPY, a trend can go on for a very long time, and there's a lot of money to be made. The problem is it is speculative . You don't know where that trend is going to end. Nobody is clairvoyant, and most people will make incorrect guesses. If you simply remove this requirement of speculation, where you have to be "correct" in your guesses in order to make money, you will do better in almost any market. If your goal in trading is to make consistent money, then the trend is not your friend. He's an acquaintance at best. You have to associate with him in business and that's about it. You spend just as much time associating with the counter-trend, because you should be doing business with both of them constantly. Now, on the other hand, if your goal is to invest (AKA gambling), that's a separate concept entirely. You're trying to grow a tree from a seed when you invest, and there's nothing wrong with that. But most people cannot live off of it. You can't even order pizza with your investments until they come to fruition. A trader can make consistent money every single day, without knowing or caring where the market is going or what it's going to do. Price continues trend, price retests, trader makes money. Price reverses, price retests, trader makes money. That's it . No waiting for retarded "key support levels", no waiting for "confirmation", no speculation, no technical analysis. Just raw risk management, getting in and out of the market quickly and constantly. Now, the one downside to being this kind of trader is you generally can't do this easily with the basic tools provided by your platform, meaning you would need scripts, EAs or whatever in order to quickly deploy limit clusters. The tool I'm working on allows me to drag a horizontal line on the screen, and I have a panel of buttons that do interesting things. I can click "Sell limits" and a whole bunch of sell limit orders appear just above the line. I can move that line again and click "Adjust TP", and the take profits for all of those orders will appear right below the structural retest point I'm targeting. I have buttons to close profits, to close pendings, close all tickets... it's just the bees knees. This is an MT5 EA, which most people won't be using, but I trade on CryptoAltum so that's what I use. I will leave it here for free. Lastly, have some limit order porn. Every single rectangle is a place where you could've had limits that got filled and made money. On really strong trends, you might notice that the retracement only returns to around the 50% point of your limit cluster, but you'll notice how uncommon that is and how easily you could've gotten out with little to no loss. A lot of the time, I won't even restrict myself to structure (swing highs and swing lows) even though that's the most reliable way to do it. I'll literally just put limits above and below any wick because I feel like it and I can make a profit in all likelihood. ...Anyway. I hope you enjoyed this write-up. Leave a comment if you did, or have any questions!
Education
by WinkleTrades
nas100 analysis (08 aug - 13 aug)nasdaq has been in an uptrend for just over a month now so the chances of it continuing with this trend are highly likely and as seen by my analysis... 1. on the daily it broke above the downward trendline 2. market retested both the trendline and broken resistance on friday 3. entries can be taken if prices comes back down to the support level or if it breaks the daily resistance possible that market can just turn bearish but i will wait and see what happens on the next trading day but my current bias is bullish
NLong
by K0KETSO