Trade review for February. Profit – $2,877.
Welcome blog readers!
It is time to summarize the trading results for February. Within a month I closed 35 orders, including 28 profit transactions. However, the profit from February was small – 2877 dollars.
Trading account I opened with Maximarkets.
According to my observations, the mood in the world has improved somewhat. This is due to the fact that at the end of the tunnel there was a “light”. Despite the continued increase in coronavirus infections, this rate has slowed down thanks to vaccinations by the population. If there are no new “surprises” in the spring, it is likely that many countries will begin to put up with previously imposed restrictive measures.
Markets followed the situation in the United States with the adoption of the next stimulus package. To implement it, the U.S. authorities will have to allocate $1.9 trillion. The program was not approved in February because of disputes in Congress between Democrats and Republicans. But no one doubts that in the first half of March this package of measures will be adopted and signed by Biden. There is likely to be only some adjustment to the expenditure item.
I in February, mainly traded gold, oil and some bitcoin. Only 9 trades were made on currency pairs and indices.
Best and worst offer of the month
This year’s value of precious metals is declining against the backdrop of the strengthening of the US currency. In early February, I opened a sale offer for a pair of xauusd after a price break from the resistance line. The injunction was closed for the next trading day. As a result, a profit of $4,814 was made.
General News on February 16 showed a likely increase in the value of gold. Therefore, I opened an offer to buy. However, the publication of information on the rise in rates on long-term US Government bonds has lowered the market for this precious metal. The order was closed at a loss of $3,590.
The oil market in February saw an upward trend. Data on the decline in stocks in the United States, as well as forecasts of a recovery in demand in the context of improving the global epidemiological situation, supported the market. Within a month I closed 10 oil trading transactions because some market news had been published. However the overall trading result on this instrument was unprofitable. The losses from the two failed trades far exceeded the profit obtained from other orders.
This month we are waiting for news about the stimulus package in the United States. In addition, the next meeting of the US Federal Reserve will take place in mid-March. As far as the oil market is concerned, the main event has already taken place. The OPEC meeting ended today. Its participants decided not to increase production in April.
Statement_ February 2021
1010 00 Inga Fedorova
Record Trade Review for February. Profit – $2,877. Forex | The magazine first appeared on forex-for-you.ru.