Mechanical Consistency Weekly Review 5; +9% Return.
Another positive trading week! 14 Aug to 18 Aug 2023.
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 day out!
Interested to learn my unique mechanical strategy?
Don’t miss out on the chance to learn my unique and profitable trading strategy! 🚀 Subscribe to my blog now to gain exclusive access to the insights, tips, and techniques that can transform your trading game. Let’s take your profits to new heights together! Click the link now and let the journey begin. 📈💹 Subscribe today!
