Another winning month!

TL;DR

1. Total Profit of approximately $200 (+2%) for October 2023.
2. Total 10 trades, 6 losses and 4 wins.
3. 1-hour Timeframe, Oanda, 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!

This is my first monthly trading review. I’ve decided to review October trades since my weekly update stopped in Sep 2023.

Key Achievements

Achieved a net profit of +2% for the month.

Simplifying my trading strategy to only retracement trading system — read it here (link)

Purely mechanical trading strategy.

Progress on Goals/Objectives

My prop firm progress: 5.80% / 10% target.

Metrics and Data

Total number of trades executed: 10, 4 wins & 6 losses.

Average win rate: 40%

Average risk-reward ratio: 1:2

Trading Pair: Gold (XAUUSD)

Challenges and Obstacles

Maintaining consistency has proven to be the greatest challenge — each day, I find myself navigating through a familiar routine, repeating steps tirelessly. This challenge becomes notably strenuous, particularly in the aftermath of losing for three consecutive days.

Lessons Learned

When it comes to trading, emphasizing the significance of consistent trading is paramount. Regardless of the strategy employed, steadfast adherence to the trading plan and faithfully following each step day in and day out pave the way for future success.

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 that together we can learn and profit along the way. Your participation means a lot in this evolving adventure!

Affiliate Links / Connect With Me

1. Connect with me on Linkedin
2. Read my blog post on Medium or Blog
3. Best Charting Tool: TradingView SuperChart
4. Thank you for Buying Me A Coffee:)
5. Useless fun fact Youtube Channel
6. The prop firm I am using: the5ers Prop Firm
7. Collect Free Stock from Webull