Mechanical Consistency; Gold (XAUUSD) Trade Review for 01 Aug
Hi, This is a trade review for 01 Aug 2023.
Here are some details for the trades.
XAUUSD
1-hour time frame
2% per trade
1 loss, 1 win (trade still open with take profit 1 achieve) Net -1% currently.
Disclaimer: Not Financial Advice! I'm just sharing my trading journey. Please take it as educational content. Thank you!
Tuesday, Gold fails the upward push and falls below the market structure, triggering and losing my first trade. Luckily, the price is able to hold at my 2nd trade level. Retracing back to my first take profit level, recovering half of my loss. The 2nd is currently still open with 0 risk running.
As a full-time working individual, I do not have the time to constantly monitor the charts and look out for the "perfect" trading opportunity. This is why I adopt the mechanical trading strategy to earn extra money.
This approach eliminates the need for extensive technical or fundamental analysis and removes any guesswork. It is a 100% Mechanical rule-based strategy, ensuring disciplined and consistent decision-making.
Here's how it works: Immediately after the 1st-hour candlestick closes either below or above the 21 EMA (Exponential Moving Average), you place precise Buy/Sell limit orders. Once all parameters are meticulously set, you can confidently attend to your daily routine, including your day job, while entrusting the market to dictate the trades.
If you are interested to learn my strategy, please visit my blogging site, link in BIO. Thank you!
Here are some details for the trades.
XAUUSD
1-hour time frame
2% per trade
1 loss, 1 win (trade still open with take profit 1 achieve) Net -1% currently.
Disclaimer: Not Financial Advice! I'm just sharing my trading journey. Please take it as educational content. Thank you!
Tuesday, Gold fails the upward push and falls below the market structure, triggering and losing my first trade. Luckily, the price is able to hold at my 2nd trade level. Retracing back to my first take profit level, recovering half of my loss. The 2nd is currently still open with 0 risk running.
As a full-time working individual, I do not have the time to constantly monitor the charts and look out for the "perfect" trading opportunity. This is why I adopt the mechanical trading strategy to earn extra money.
This approach eliminates the need for extensive technical or fundamental analysis and removes any guesswork. It is a 100% Mechanical rule-based strategy, ensuring disciplined and consistent decision-making.
Here's how it works: Immediately after the 1st-hour candlestick closes either below or above the 21 EMA (Exponential Moving Average), you place precise Buy/Sell limit orders. Once all parameters are meticulously set, you can confidently attend to your daily routine, including your day job, while entrusting the market to dictate the trades.
If you are interested to learn my strategy, please visit my blogging site, link in BIO. Thank you!