ForexSpirit

July turned out to be another difficult month for trend trading the EUR/USD. After breaching the high just above the 1.6 handle on July 15, price plunged back into the range it has been wading in since March.

My two winning trades for the month were in the first half of the month leading up to the test of 1.6. I also had two breakeven trades; one right at the start of the month and one in the final week. Six losing trades in the later half of the month ate away my wins and left me in the red for the month overall.

Three of those losing trades were AH entries; in other words, systematic entries losing to get back in the market at the price I had been previously stopped out. Unfortunately there was no real follow through in the main trend direction during the second half of the month and so the initial trade loss was compounded by the AH loss.

My equity for the month was reduced by -9.07%.

With only 10 trades for the month I feel like I’ve kept my tendency to over trade from earlier this year in check for another month.