I'm back. I took a "break" over the last few weeks and took my mind off trading (although I still traded). I just wanted some time off to recharge my batteries and do something else with my free time besides trading.
July was a breakeven month for me. I grew my account by a marginal 0.08%.
Trades: 12
Account growth: 0.08%
I closed twelve trades in July, which is what I expected. The major theme for me was the "Brexit" referendum and its aftermath (although the GBP has calmed down now. But I feel a major move is about to take place again as markets don't range forever).
Because I only broke even for July, I'm reducing my maximum risk to 1.5% for August. I'm not in tune with the market, but I'm not completely out of tune either. I think 1.5% strikes a reasonable balance.
I believe that sticking close to 1:1 R:R ratios has prevented a losing streak for July. My distribution of wins and losses during July is well-mixed.
My sticking point for July is being more aware of news. There was at least one trade that I should've avoided (I went long on the USDCHF just before the Federal Reserve made an announcement on 27 July. This was a stupid trade, and was purely based on a technical setup that became invalid on the release of news). ALWAYS be aware of upcoming news as they have the power to overturn technical setups.
