Trade Review for October. Oil market. Best deals of the month.

Hello to blog readers!

I want to share my trading results with you in October. She was active enough. During the month I closed 77 trading transactions. Total profit from trading amounted to $5928.

I have a trading account with Maximarkets.

News background last month did not let the markets relax. The degree of tension in the U.S.-China trade conflict remained high. But last week, there was hope for a decline. Donald Trump made a loud announcement that he intends to conclude a trade agreement with Beijing at the G20 summit. He’ll start his work at the end of November. However, China did not comment clearly on Trump’s statement. The oil market has been falling during the whole month, despite the reduction of supplies from Iran. Oil prices were pressured by the growth of production in OPEC countries and the increase of oil reserves in the USA. But the cryptocurrency market very rarely reminded about its existence in the news feeds. Its dynamics was rather weak in the absence of any significant factors.

Best trade of the month

Based on the profit amount, such a deal can be called a buy on the NZD/USD pair. It was opened on October 10 on the basis of a technical analysis. There was no important news about the New Zealand dollar at the time.

The order was opened after confirmation of the rejection from the lower boundary of the channels. Profit in the amount of $4215 was fixed at approaching the price to the opposite boundary of the channel.

Successful deals can also be attributed to the sale of oil on the decline in quotations after the publication of data on the growth of reserves in the U.S. by the American Petroleum Institute. At the same time, they not only grew, but significantly exceeded the forecast of analysts. Two deals for sale were closed with a total profit of 6450$.

An example of an unsuccessful deal is the sale of Tesla shares. I made the decision after one of Ilona Mask’s statements, which the market has always negatively assessed lately. However, the movement down was short, and the trade order was closed with a loss of $3720.

This month it will be interesting to observe the squabbles between China and the U.S., as well as the reaction of the oil market to the entry into force of the U.S. sanctions. Well, this week we’re waiting for the Fed to decide on the rates.Trade status in October:statement-ffy-10-2018Fyodorov’s Inga05.11.2018
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