Review

Mechanical Consistency March 2024 Review; -2.90%

LIM WEI XIANG

LIM WEI XIANG

— 3 min read
Mechanical Consistency March 2024 Review; -2.90%

First losing month of the year… but it could have been +5.90%

TL;DR

  1. Total Profit of approximately $-290 (-2.90%) for February 2024.
  2. But it could have be profitable…
  3. 1-hour Timeframe, XAUUSD(Gold), $10,000 Capital, $100/ 1% per trade.
  4. 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!

Unfortunately, we experienced our first losing month in 2024. However, I’m optimistic that this will be the last one. I’ve been fine-tuning the strategy to potentially improve returns, but these changes were only implemented in the last week of March. Here’s hoping for better results in April! Nonetheless, let’s go over the trades for March.

1) Trading Journey

  1. I’ve learned from my past trading mistakes and have returned to the drawing board for an extensive backtest.
  2. I’ve implemented the enhanced versions of my mechanical strategy to boost overall profitability!
  3. I’m transferring my funds from my trading account for Options Trading, as I’m currently trading with the Prop Firm’s capital.

2) Trading Progress

The5ers Hyper Growth Account 

Currently taking on Stage 2 ($10k account)

Progress: +1.07% / 10% Target.

The5ers High Stake Account

Progress: Stage 1 $100k Demo Challenge -1.70% / 10% Target.

3) Metrics and Data

Total number of trades executed: 24, 9 wins & 15 losses.

Average win rate: 37.5% win rate

2 trades/day: Retracement to Fibonacci levels at 61.80% and 38.20%

Trading Pair: Gold (XAUUSD)

Trading capital $10,000, 1% per trade.

4) Challenges and Obstacles

While documenting my trades, I discovered that with a slight adjustment, I could have significantly increased my earnings and reduced my losing trades. Unfortunately, I only made this realization towards the end of March, when most of the trades had already been executed. Nevertheless, it’s never too late to acknowledge a mistake and continue trading with a new and improved strategy!

5) BUT… it could have been +5.90% (+$590) 

I went ahead and backtested the new and improved version for March 2024 again, and as expected, this month could have been profitable at +$590! Nonetheless, I’m just happy that I’ve improved the strategy now rather than later.

Once again I would like to give a heartfelt thanks to all my paid members for supporting this paid signal group! I hope that you can profit with me through these months!

For those who are curious, my paid signal group offers a way for me to share live trades with you all, allowing us to trade and profit together. Skip the steep learning curve and join me in trading every day! Sign up now to start trading smarter!

Endnote

Once again, thank you so much for your ongoing support. I’m committed to documenting my financial journey, and I hope we can learn and profit along the way. Your participation means a lot in this evolving adventure!

  1. Connect with me on Linkedin
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  4. Thank you for Buying Me A Coffee:)
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  6. Collect Free Stock from Webull
  7. Join my trade Signal Group HERE

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