Greetings to all trading colleagues and blog readers! Without deviating from the usual rules, I hasten to submit a report on my activity in the Forex market for May this year. During the reporting period, I made not much or less – 36 transactions. Of the total number of transactions, only 13 were unprofitable. The total trading loss in May was $ 5068.62. The remaining 23 trades brought in 4919.94 dollars in profit. A trader should not be afraid of a large number of losing trades or single large losses. The main thing is that the profit covers the losing trades. In May, work was carried out on the Forex currency market, on the cryptocurrency market, on the precious metals market and on the stock market.
In May, there was a general price collapse in the cryptocurrency market. After the statement of Elon Musk, the entire cryptocurrency market was stormy. The fall in prices affected almost all assets. But the fall in price cannot be constant and endless. After the local price minimum of DOGE / USD on May 23, when the price dropped below 28,000.00, a gradual rise began. With a view to the continuation of the upward trend that had begun, an order to buy DOGE / USD was opened. As it turned out later, the trade decision was not entirely successful. The price began to decline, and after a few hours the order had to be closed from the market. This trade resulted in $ 543.10 loss, plus $ 20 transaction fees.
Precious Metals Market
Throughout May 2021, the gold price showed an increasing trend. The price movement of this asset is characterized by strong impulses. On May 7, the price went up with a sharp impulse, after which a sideways accumulative movement began. On May 11, the price drops sharply downward. After a rebound from the local support level, a decision was made to open a long position. The target was set near the upper savings line. But after the possibility of a downward reversal appeared, the deal was closed from the market. This operation brought in $ 1,923 in profit. Another trade on the xau / usd asset brought in $ 295 in profit. As a result, working in the precious metals market added $ 2,218 to my deposit.
Boeing is going through hard times right now. Since mid-March, there has been a corrective price decline for the shares of this company. On May 10, after the start of the downward price impulse, the decision was made to open a short position. The decision turned out to be correct. This stock market operation generated the largest profit in the past month at $ 3,400 minus $ 12 in fees.
During the reporting period, I traded on the Forex market, both major currency pairs and crosses. I will not say that the work was very successful, although there were many deals. The overall result of work in the foreign exchange market was $ 122.96 in loss. The most unprofitable deal of the month was on the eur / gbp pair on May 20 and brought a loss of $ 568.91. But in general, work in all market segments, as a result, replenished my deposit by $ 4919.94. Now I have 82,618.86 US dollars in my account. Don’t forget about money management rules. I wish you all stable results and successful trading!
June 3, 2021