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Practice of trading in December 2020 +6 885.30 $ – Forex for beginners from scratch

Greetings to all! Happy 2021! I wish all trading lovers and professional traders good luck this year! Also, I hasten to submit a report on my work in the markets for the last month of last year. My account was opened with the broker Maximarkets, for which I have been working for a long time. I will not say that the reporting period was very successful, but trading was conducted almost the entire month, despite the “thin” market. In total, I made 31 transactions in December. Of these, 8 transactions were unprofitable and 23 transactions were closed with profit. The total loss was $ 5,816.41. But the total profit covered the losses and amounted to $ 6,885.30. In December, I traded in the precious metals market, the foreign exchange market, the cryptocurrency market and the commodity market. Now more about my trading.

Trading in the precious metals market

A profitable deal to sell gold

Only 17 trades were executed on the precious metals market. One trade to buy platinum generated a profit of $ 1,156.00. Of the 16 trades in the gold market, two were unprofitable (- $ 2,456.00) and 14 trades brought in a profit of $ 9,738.80. The total earnings in this market were $ 7,282.80. The most profitable deal to sell gold was made on December 3 (+1 661.40 $). The most unprofitable sell order xau / usd was closed on December 15 (-1,964.00 $). Despite the “thin market”, when big business does not participate in trading, the work in the precious metals market can be considered successful. This market saw the largest profit in the past December.

Forex trading

In total, in the last month of 2020, 12 transactions were opened on the Forex market. To the greatest regret, work in the foreign exchange market cannot be called successful. Out of 12 open orders, 6 were closed with a profit of $ 2,061.94. But the remaining six trades brought a total loss of $ 3,360.41. As a result of a month’s work in the foreign exchange market, the result was a loss of $ 1,298.47. The largest profit was brought on December 21 by a deal to buy the gbp / usd currency pair (+ $ 344.00). And the most unprofitable deal, not only in the foreign exchange market, but also for the entire reporting period, was closed on December 15 for the purchase of the gbp / aud pair (- $ 2,096.88). But don’t be upset when you receive losses. This is only a temporary phenomenon and an integral part of the trading process.

Cryptocurrency trading

A profitable deal to sell Bitcoin

During the reporting month, I made only one transaction in the cryptocurrency market. On December 4, an order opened on December 3 for the sale of btc / usd was closed. As a result of this transaction, my deposit increased by $ 691.94 minus $ 40 in commission.

Commodity trading

The dynamics of pricing for such an important strategic product as sugar depends on many factors. On December 4, one deal was made to buy the sugar asset. The trade was closed at a profit of $ 130.00, minus $ 6 in commission. Even one profitable transaction makes a successful work for the reporting period in the commodity market. And as always, friends, I want to remind everyone of the high risks associated with working in the markets. Therefore, do not ignore the rules of money management in the pursuit of good profits. Try not to exceed the pre-planned risk for each trade. I wish everyone successful trading and good profits! The December statement can be downloaded here.

Yours faithfully,

Vitaly Pryadko.

January 5, 2021

Moris Akline
About author

Speculative operations in the foreign exchange and stock market. Work with futures and indices on CME. Work on FORTS and RTS. Development of portfolios and investment strategies for clients. Knowledge of technical (price charts of various types, indicators and oscillators, trends, channels, support / resistance levels) and fundamental analysis, take note of news. I work according to my trading strategy in compliance with the rules of capital management and risk management. Development of trust management strategies. Technique of order execution, placing and changing protective stop-losses, hedging.
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