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Mechanical Consistency Weekly Review 6; ~6% Return.Getting the hang of it! Trade Review 21 Aug to 25 Aug 2023. TL;DR Total Profit of approximately $600 (around +6%) for the 3rd week of August 2023. Total 8 trades, 5 wins & 3 loss. 1-hour Timeframe, Oanda, XAUUSD(Gold), $10,000 Capital, $200/ 2% per trade. Mechanical Consistency Trading Strategy; Purely rule-based strategy, zero guesswork, zero analysis. Disclaimer : I am not a financial advisor. The content for this article is purely for educational/research purposes only and is merely based on my personal opinions. Please note: There will be affiliate links in this article. But it will only benefit both of us. If you do not wish to participate under my affiliate links, please feel free to Google them separately. Cheers! The more I engage in trading, the clearer I perceive the profound significance of maintaining mechanical consistency within this domain. As this week unfolds, the market is growing increasingly volatile, driven by an influx of data from the United States. Let's review trades for this week. Monday (21 August 2023) 1x Win trade. Daily bias: Downtrend On Monday, the market began to shift its momentum in an upward direction. I managed to lock in some profits early, just before the market started to move against my initial daily bias. Tuesday (22 August 2023) 2x Win trades Daily bias: Uptrend On Tuesday, our trading performance was exceptional, demonstrating the remarkable effectiveness of my mechanical strategy. The first mean reversion trade was initiated with minimal drawdown, swiftly transitioning into profit. Similarly, the second retracement trade was executed flawlessly, experiencing no drawdown, and reaching both take-profit levels within just one day Wednesday (23 August 2023) 2x Losing Trades Daily bias: Uptrend I experienced my first loss of the week due to the sudden and aggressive rise in prices caused by the US market data. This unexpected development led to losses in both of my mean reversion trades almost immediately. This situation highlights a key aspect of my strategy: not all trades will be profitable, but it's crucial to appreciate the consistency factor in trading. I'm optimistic that we can regain some of the losses in the next trading session. Thursday (24 August 2023) 0 trades Daily bias: Uptrend Thursday saw relatively calm price movements following the sharp market activity from the previous day, and as a result, none of my trade parameters were triggered. Friday (25 August 2023) 2x Win 1x Loss trades. Daily bias: Downtrend On Friday, the impact of market data continued to affect my trading. I was only able to secure partial profit for the first retracement trade before significant volatility triggered my stop loss at breakeven. Similarly, the second mean reversion trade resulted in a loss primarily due to the same market volatility. However, the third mean reversion trade managed to weather the storm and eventually pushed the price into profit, hitting both take-profit levels. Endnote In conclusion, this week presented a mix of challenges and successes in our trading endeavours. While we faced a loss earlier in the week due to unexpected market movements, we also demonstrated the resilience of our strategy by recouping losses and securing profits in subsequent trades. It's important to recognize that trading involves both ups and downs and maintaining consistency and adaptability in our approach is key to long-term success. As we move forward, we'll continue to analyze and refine our strategies to navigate the ever-changing market conditions with confidence and determination. As a full-time working individual, I do not have the time to constantly monitor the charts and look for the "perfect" trading opportunity. This is why I adopted 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 want to learn my strategy, please visit my blogging site, link in BIO. Thank you!
OANDA:XAUUSD
by Barry_Games_Trading
Mechanical Consistency Weekly Review 5; +9% Return.TL;DR Total Profit of approximately $900 (around +9%) for the 2nd week of August 2023. Total 9 trades, 8 wins & 1 loss. 1-hour Timeframe, Oanda, XAUUSD(Gold), $10,000 Capital, $200/ 2% per trade. Mechanical Consistency Trading Strategy; Purely rule-based strategy, zero guesswork, zero analysis. Disclaimer: I am not a financial advisor. The content for this article is purely for educational/research purposes only and is merely based on my personal opinions. Please note: There will be affiliate links in this article. But it will only benefit both of us. If you do not wish to participate under my affiliate links, please feel free to Google them separately. Cheers! We had a beautiful trading week for 2nd week of August. Most of my predetermined parameters got triggered and reached my take profit without much drawdown. Let’s break it down. Monday (14 August 2023) I encountered my first loss of the week when the initial mean reversion trade didn’t go as planned. The price swiftly plummeted, triggering my stop loss and prompting me to initiate my second mean reversion trade. Fortunately, I managed to bounce back and secure some profit from take profit 1 before the price continued its downward trend. Tuesday (15 August 2023) My daily bias, determined by the 21 EMA, indicated a clear downtrend. I executed both trades flawlessly. The first mean reversion trade unfolded precisely as anticipated, allowing me to capture profits at each stage. The second trade, a retracement play, experienced an immediate reversal shortly after entry, with almost no drawdown. It was the ideal trade setup I had been hoping for! Wednesday (16 August 2023) The daily bias continued to favor a downtrend. While Tuesday’s trade remained open, my parameters signaled another retracement trade, and both trades successfully reached all of my predetermined take profit levels. As the trading day neared its end, I was triggered into a mean reversion trade at 127%. Fortunately, I managed to secure some profits before ultimately closing the trade on Thursday. Thursday (17 August 2023) The daily bias remained in a downtrend. Most of my attention on Wednesday was dedicated to managing the ongoing trade from that day. However, once I closed out the Wednesday trade, I was able to initiate a standard retracement trade that successfully reached both of my pre-set take profit levels, resulting in a substantial profit. Later that same night, my mean reversion trade was triggered, and I had to manage it until Friday. Friday (18 August 2023) Even though market sentiment began to show signs of shifting towards the upside, my daily bias remained in a downtrend. I successfully closed my Thursday’s trade with a profit and promptly initiated a standard retracement trade, reaching the first take profit level and securing a breakeven point at the entry price, just before the market began its upward momentum. Endnote As I navigated a market with a prevailing downtrend, while also observing hints of a shift in market sentiment towards the upside. Despite these challenges, I executed my trades with precision, closing out profitable positions and making the most of favourable retracement opportunities without any market analysis + zero guesswork, purely using a mechanical system that I developed, backtest and forward testing. Same strategy, same system day in and day out! As a full-time working individual, I do not have the time to constantly monitor the charts and look for the "perfect" trading opportunity. This is why I adopted 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 want to learn my strategy, please visit my blogging site, link in BIO. Thank you!
OANDA:XAUUSDEducation
by Barry_Games_Trading
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 04 AugHi, This is a trade review for 02 Aug 2023. Here are some details for the trades. OANDA:XAUUSD 1-hour time frame 2% per trade Thursday No Trade - Range Market. Friday 3 lose 1 partial win. On Thursday, the market was in range bound market, no trade got triggered, quiet and peaceful trading day. On Friday, we encountered a series of unfortunate trades following the US's Non-Farm Payroll Data. The price became super volatile, which mean the spread got even wider, triggering and hitting stop loss for the first 3 trades. Luckily the price is able to hold and trigger a winning trade, recovering some losses. After reviewing my trades I've decided to add some improvements to myself: Avoid trading Non-Farm Payroll. Disclaimer: Not Financial Advice! I'm just sharing my trading journey. Please take it as educational content. Thank you! On Wednesday, we came close to securing a successful winning trade. The price exhibited a retracement to the 50% Fibonacci level before initiating a downward movement, resulting in the establishment of a new lower low. As of now, my second trade has been triggered and is actively in progress. As a full-time working individual, I do not have the time to constantly monitor the charts and look 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 want to learn my strategy, please visit my blogging site, link in BIO. Thank you!
OANDA:XAUUSD
by Barry_Games_Trading
1
Mechanical Consistency; Gold (XAUUSD) Trade Review for 02 AugHi, This is a trade review for 02 Aug 2023. Here are some details for the trades. OANDA:XAUUSD 1-hour time frame 2% per trade 1 open trade. Disclaimer: Not Financial Advice! I'm just sharing my trading journey. Please take it as educational content. Thank you! On Wednesday, we came close to securing a successful winning trade. The price exhibited a retracement to the 50% Fibonacci level before initiating a downward movement, resulting in the establishment of a new lower low. As of now, my second trade has been triggered and is actively in progress. As a full-time working individual, I do not have the time to constantly monitor the charts and look 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 want to learn my strategy, please visit my blogging site, link in BIO. Thank you!
OANDA:XAUUSDEducation
by Barry_Games_Trading
1
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 31 JulyHi, This is a trade review for 27 July 2023. Here are some details for the trades. XAUUSD 1-hour time frame 2% per trade 2 Solid Wins, net around +5.5% Disclaimer: Not Financial Advice! I'm just sharing my trading journey. Please take it as educational content. Thank you! Monday's trading was exceptionally successful with both trades yielding outstanding results. The first trade was executed flawlessly, experiencing minimal drawdown before quickly hitting its target for a satisfying profit. The second trade was triggered right after the first's successful exit and continued its momentum into Tuesday morning, reaching its initial take profit level. However, due to the potential impact of the ongoing trade on the new setup, I had to make a prudent adjustment to the second trade's take-profit level. 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 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. 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 Weekly Review; -2.2% Return.Hi, Here's a weekly trades review on my mechanical consistency strategy. Here are some details for the trades. XAUUSD 1-hour time frame 2% per trade 3 win, 4 lose; Net Lose -2.2% The week started out great but ends horribly after wiping out all my profit from Monday and Tuesday. Let's review each day. Monday's trade was executed beautifully, price went into profit almost immediately triggering the entry and reaches my first take profit soon after. After shifting stop loss to entry, the trade retraces back and just went I thought the trade was over. The price holds and triggered my Tuesday trade and head down to profit with close to zero drawdown, hitting all my take profit levels. Tuesday trade was cut short after taking profit 1 has been reached and hit my stop loss level at entry. But still it was a good trade! Wednesday trades ended net zero, the first trade lose immediately, hit my stop loss and triggered 2nd trade at the same time. Luckily, the 2nd trade is able to hit my first take profit level before going further up. Thursday is the most disappointing trades of the week, wiping out all my profit for this week. Because of the strong US data, Gold price fells sharply wiping all my trades within seconds. Friday did not trigger in any trades. Most because of my trade setup parameters. Even we ended up losing only -2.2% of the capital. I am still in profit for the entire month of July. I will be sharing monthly trades review soon. As long as we do not deviate from my mechanical strategy, we can and will still profit in the long run. Take it as an investment instead of day job. Disclaimer: Not Financial Advise, just sharing my trading journey. Please take it as educational content. Thank you! 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 27 JulyHi, This is a trade review for 27 July 2023. Here are some details for the trades. XAUUSD 1-hour time frame 2% per trade 3 lose, net -3R / -6% Due to the robust US data, Gold experienced a significant decline, resulting in a substantial setback. Unfortunately, all three of my carefully positioned mechanical trades ended up losing -3R, erasing all the profits I had accumulated this week. Nevertheless, dwelling on the past won't be productive. Instead, I remain committed to my strategy without any deviations or changes. It's worth noting that I've extensively backtested this consistent mechanical approach, and it has proven to be profitable over the past year. Moving forward, I am optimistic that the upcoming week will yield better results. Staying focused and disciplined will be key to achieving success. Let's look ahead with confidence and hope for a more favourable outcome next week! 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 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 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. 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 26 JulyHi, This is a trade review for 26 July 2023. Here are some details for the trades. XAUUSD 1-hour time frame 2% per trade 1 win & 1 lose, net -0.2R (-$40) My mechanical strategy is still working as intended. Although the first trade ended up losing but the second trade manages to perform and reduce the overall loss to -0.2R. I am still confident that the strategy will work in the long run. 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 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 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. 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