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June 2015 Bank Trading Setups & Trade Analysis

Last month I did a video that covered every trade taken during the month of May 2015. If you have not seen it you can check it out by clicking on the title of the post, 2015 May Trade Analysis & Results – Learn To Day Trade. I had a lot of positive response from both members and non members alike and so I decided to continue with the same format for June. June was a rather easy month to put a video together for as there was not a great deal of trades to cover. Even with the major reduction in quantity of trades the quality of the trades were quite high as we only had 1 losing trade during the month. 

If nothing else last month should illustrate the importance of trade management in a successful trading career. We had many trades that ran +25 pips or more and then came back to break even and further. It would have been very easy to allow those trades to go negative in hopes of seeing the market continue but strict application of the bank trading strategy was by far the better option. Last month also illustrates the importance of discipline and patience. One area that tends to get traders into trouble more than anything else is lack of discipline and patience. We went through one of the longest stretches I can remember without seeing a trade. It would be very easy to start taking random trades during lull. This training video just shows the importance of consistency and sticking to a rule set. In the end that is the key to long term success in the forex market.

If you didn’t see last months video that covered every trade from May you can che

-Sterling

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2 Comments

  1. Alan
    Alan July 31, 09:15

    Hi Sterling, thanks a lot for all the useful information! When you talk about closing the trade as breakeven, how do you manage it? Do you move the stop loss to breakeven once you reach half of your target (20 pips out of 40)?
    Thank you very much

    Reply to this comment
    • Sterling Suhr
      Sterling Suhr Author July 31, 16:39

      1 of the 4 basic trade management rules we use it just simply move to break even once a trade reaches 20 pips of profit. I don’t like to split profit on a trade before the 2/1 reward/risk ratio is reached.

      -Sterling

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