Dear friends, though our school years have long gone, we should never stop learning. I have been into financial markets for eight years and still discover something new and try to apply it to trading to improve my results.

Knowledge is power; and my latest report alongside the recent victory in trading contests proves it.

The pound volatility remains high. In the Asian session alone, when trading tends to be relatively muted, price action of the GBP/USD pair currently covers 100-200 pips. Just recently (before Brexit), the Cable’s trading range spanned around 20-30 pips. Tonight was no exception as the British pound strengthened by 1% (145 pips) against the US dollar amid low liquidity. Resistance at 1.3480 capped further gains, and now the pair is edging lower. 

I’d like to introduce you to my trading report for May 2016. In the run-up to summer, investors closed long positions on risky assets as usual. So I took advantage of this situation. And that brought me a total profit of +$3,553 from my three accounts. To my viewpoint, this is a great result every trader with average capital should strive to. 

Luckily,the Cruise trading team contest ended right on April 30, 2016. So instead of my usual monthly report, I decided to share the results of this captivating competition with you. The contest was held on live deposits, thus reducing rash decisions. The contest gave me an opportunity to trade alongside those who have been working on Forex for quite a long time. The prize pool of RUB 330,000 is provided by InstaForex. The pool was split as follows: