Good day to everyone who reads my blog and colleagues in the trading workshop! As usual, I will not deviate from the established tradition. At the beginning of each calendar month, I publish a trading report for the past month. Trading in March was quite intense, and I made 43 trades. Of the total number of transactions, 18 were unprofitable. The total loss, including commission, was $ 5,748.87. The remaining 25 trades minus the commission brought in $ 4398.00 in profit. Such statistics proves once again that there is no need to be afraid of losses in trading. The main thing is that profit can cover losses. In March, I mainly worked in the Forex market. But, nevertheless, I opened deals in the cryptocurrency market, and in the precious metals market. Now more about trading.
Work on the crypto market
During the reporting period, I made only two transactions on the cryptocurrency market. In early March, the situation in the cryptocurrency market was rather unstable. A confident rise in prices gave way to unexpected rollbacks back. And although experts predict further growth in cryptocurrencies, the situation may change dramatically at any minute. On March 9, the price once again bounced off the support level. It was decided to open a trading position to buy the Ethereum instrument. But after a short rise, the price bounced off the resistance level. I had to close the deal from the market. This trade brought in, minus the commission, $ 116.34 in profit. The long position in Bitcoin had to be closed at a loss of $ 73.50, including the commission.
During the reporting period, 39 trading operations were carried out on the foreign exchange market. I will not say that trading in this segment of the market was successful for me. Many trades were closed with a loss, which totaled 5635.37 dollars. 23 profitable trades totaling 3489.55 dollars in profit. The largest loss of the past month was received on the gbp / jpy currency pair. Since March 5, the price has shown steady growth. On March 9, the price approached the uptrend line. With the expectation of a rebound from the trend line and further growth, a long position was opened. Still, the price broke through the trend line and after that began to decline. At 21:59, the price activated a protective stop order. This resulted in a loss of $ 410.32, the largest in the reporting period.
Precious Metals Market
In the metals market, I have conducted only two successful operations. Since the beginning of 2021, the gold market has been in a downtrend. Small upward corrective moves give hope to buyers. But sellers are still stronger, and under pressure from sellers, the price continues to decline. On March 24, after the price rebounded from the support level, a decision was made to open a trading position. Given the previous mainstream upward trend, a trade was entered to buy the asset. The target is set near the nearest local maximum, which is in the zone of the resistance level. As a result, the price activated Take Profit and the deal brought $ 4,557.00 in profit. This is the most profitable deal for March 2021. The deal with the asset xag / usd (silver) brought in $ 1,473.00 in profit. These two deals in the precious metals market brought the overall balance of trade into the positive zone. At the moment, the balance of my deposit is $ 70614.74. I wish you all stable and profitable trading!
April 3, 2021