Mechanical Consistency; Gold (XAUUSD) Trade Review for 27 July
Hi, This is a trade review for 27 July 2023.
Here are some details for the trades.
XAUUSD
1-hour time frame
2% per trade
3 lose, net -3R / -6%
Due to the robust US data, Gold experienced a significant decline, resulting in a substantial setback. Unfortunately, all three of my carefully positioned mechanical trades ended up losing -3R, erasing all the profits I had accumulated this week. Nevertheless, dwelling on the past won't be productive. Instead, I remain committed to my strategy without any deviations or changes. It's worth noting that I've extensively backtested this consistent mechanical approach, and it has proven to be profitable over the past year.
Moving forward, I am optimistic that the upcoming week will yield better results. Staying focused and disciplined will be key to achieving success. Let's look ahead with confidence and hope for a more favourable outcome next week!
Disclaimer: Not Financial Advise, just sharing my trading journey. Please take it as educational content. Thank you!
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 200 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
3 lose, net -3R / -6%
Due to the robust US data, Gold experienced a significant decline, resulting in a substantial setback. Unfortunately, all three of my carefully positioned mechanical trades ended up losing -3R, erasing all the profits I had accumulated this week. Nevertheless, dwelling on the past won't be productive. Instead, I remain committed to my strategy without any deviations or changes. It's worth noting that I've extensively backtested this consistent mechanical approach, and it has proven to be profitable over the past year.
Moving forward, I am optimistic that the upcoming week will yield better results. Staying focused and disciplined will be key to achieving success. Let's look ahead with confidence and hope for a more favourable outcome next week!
Disclaimer: Not Financial Advise, just sharing my trading journey. Please take it as educational content. Thank you!
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 200 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!