Mechanical Consistency November 2023 Review; +4%
Slow and steady!
TL;DR
- Total Profit of approximately $400 (+4%) for November 2023.
- Total 8 trades, 4 losses and 4 wins.
- 1-hour Timeframe, Oanda, XAUUSD(Gold), $10,000 Capital, $100/ 1% 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!
November was a great month for trading! Even though I was busy travelling with my family, sorting out my finances, and starting a new option trading project, I didn’t focus much on my forex trading. Surprisingly, my forex strategy worked really well without needing much detailed analysis. It performed just as I hoped, even when I took the mean reversion strategy out from my trading system!
Key Achievements
I was able to achieve a net profit of +4% / $400 for the month.
It's a purely mechanical trading strategy.
Starting option trading
Progress on Goals/Objectives
My prop firm progress: 6% / 10% target, a slight 0.2% increase from October 2023. I am slowly inching slower to my target!
Metrics and Data
Total number of trades executed: 8, 4 wins & 4 losses.
Average win rate: 50%
Average risk-reward ratio: 1:2
Trading Pair: Gold (XAUUSD)
Trading capital $10,000
Challenges and Obstacles
Staying consistent has been my biggest challenge, especially this month. Managing trade has been tough due to the time difference between my home in Singapore and Europe (Because of travelling) and finding the right timing to execute trades has been a struggle. Additionally, I’ve been working on reorganizing my finances, which has required me to go back to square one and create a new financial plan for a better future.
Lessons Learned
There have been moments when I’ve found trading while travelling to be an amazing experience. Exploring different corners of the world while earning money on the go has been truly rewarding. It’s why I’m pushing myself to work harder than ever before — to secure more earnings and pave the way for a more fulfilling and prosperous future.
Upcoming Plans and Initiatives
In the future, I plan to provide progress updates on all my side hustle ventures, including my YouTube channel, options trading, and other endeavours. Stay tuned for updates as these ventures continue to evolve and grow.
Endnote
Thank you immensely 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!
Affiliate Links / Connect With Me
- Connect with me on Linkedin
- Read my blog post on Medium or Blog
- Best Charting Tool: TradingView SuperChart
- Thank you for Buying Me A Coffee:)
- Useless fun fact Youtube Channel
- The prop firm I am using: the5ers Prop Firm
- Collect Free Stock from Webull
