Mechanical Consistency Weekly Review 4; +10% Return.
My first consecutive win, 100% win rate! 07 August to 11 August 2023
TL;DR
- Total Profit of approximately $1020 (~+10%) for the first week of August 2023.
- Total 5 trades, 5 wins & 0 losses.
- 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.
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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.
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