Mechanical Consistency Weekly Review; -2.2% Return.
Hi, Here's a weekly trades review on my mechanical consistency strategy.
Here are some details for the trades.
XAUUSD
1-hour time frame
2% per trade
3 win, 4 lose;
Net Lose -2.2%
The week started out great but ends horribly after wiping out all my profit from Monday and Tuesday. Let's review each day.
Monday's trade was executed beautifully, price went into profit almost immediately triggering the entry and reaches my first take profit soon after. After shifting stop loss to entry, the trade retraces back and just went I thought the trade was over. The price holds and triggered my Tuesday trade and head down to profit with close to zero drawdown, hitting all my take profit levels.
Tuesday trade was cut short after taking profit 1 has been reached and hit my stop loss level at entry. But still it was a good trade!
Wednesday trades ended net zero, the first trade lose immediately, hit my stop loss and triggered 2nd trade at the same time. Luckily, the 2nd trade is able to hit my first take profit level before going further up.
Thursday is the most disappointing trades of the week, wiping out all my profit for this week. Because of the strong US data, Gold price fells sharply wiping all my trades within seconds.
Friday did not trigger in any trades. Most because of my trade setup parameters.
Even we ended up losing only -2.2% of the capital. I am still in profit for the entire month of July. I will be sharing monthly trades review soon. As long as we do not deviate from my mechanical strategy, we can and will still profit in the long run. Take it as an investment instead of day job.
Disclaimer: Not Financial Advise, just sharing my trading journey. Please take it as educational content. Thank you!
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 win, 4 lose;
Net Lose -2.2%
The week started out great but ends horribly after wiping out all my profit from Monday and Tuesday. Let's review each day.
Monday's trade was executed beautifully, price went into profit almost immediately triggering the entry and reaches my first take profit soon after. After shifting stop loss to entry, the trade retraces back and just went I thought the trade was over. The price holds and triggered my Tuesday trade and head down to profit with close to zero drawdown, hitting all my take profit levels.
Tuesday trade was cut short after taking profit 1 has been reached and hit my stop loss level at entry. But still it was a good trade!
Wednesday trades ended net zero, the first trade lose immediately, hit my stop loss and triggered 2nd trade at the same time. Luckily, the 2nd trade is able to hit my first take profit level before going further up.
Thursday is the most disappointing trades of the week, wiping out all my profit for this week. Because of the strong US data, Gold price fells sharply wiping all my trades within seconds.
Friday did not trigger in any trades. Most because of my trade setup parameters.
Even we ended up losing only -2.2% of the capital. I am still in profit for the entire month of July. I will be sharing monthly trades review soon. As long as we do not deviate from my mechanical strategy, we can and will still profit in the long run. Take it as an investment instead of day job.
Disclaimer: Not Financial Advise, just sharing my trading journey. Please take it as educational content. Thank you!
If you are interested to learn my strategy, please visit my blogging site, link in BIO. Thank you!