Stop Over-trading! July 2016 Month End Review
One of the most common areas that tends to plague retail forex traders is over-trading. With that being said a lot of trades is NOT a bad thing if they are all correctly executed trades that follow a proven trading strategy. The trouble comes in when traders start placing random trades, things such as the classic “double down revenge trade”. Regardless of the trading education that someone seeks out, only you can curve that addiction to over-trading. For those who struggle with the addiction of having to be in a trade, all hope is not lost. One of the strongest cures for over trading is having a detailed trading plan with strict entry and trade management rules. Having a solid rule structure gives you something to judge every setup against. While it will not physically restrain that pesky pointer finger automatically, it can give you a mental backstop from which you judge a setup before clicking the button to buy or sell. Because the DTFL forex bank trading strategy has a mechanical entry, it can reduce someone’s lack of restraint, but only if they focus on the rules. Again, nothing is a can stop someone from over-trading other than themselves, but a mechanical rule based entry can be the first step towards overcoming this common problem
Moving on to the July month end review video, we had the fewest number of trades in a one month period I ever remember in the history of DTFL. Granted these videos only cover trades on the EUR/USD and GBP/USD. Those two pairs alone are not a reflection of trade quantity for those members who trade many more pairs. Those who trade more pairs would obviously see more traders. July was however, a great illustration that the number of trades you might take really has nothing to do with the amount of profit you might make. During the month of July we only had 4 valid trades on those two pairs, but we had a total profit of +8% on only 2% risk per trade with zero draw down at any point during the month. This video is the 15th month end review video I have posted in a row, and it is the 15th consecutively profitable month as well. July’s +8% gain brings that 15 month compounded total to +335% on just the EUR/USD and GBP/USD. I hope you enjoy this months trade recap!
Want to learn the bank trading strategy, join our live training room, access live member chat, as well as lifetime support? Join Us Here