Hello dear blog visitors! Winter is at its best this year. Kids are pleased with fine snow. Nevertheless, severe frost prevents people from spending time outdoors and enjoying a ride on sled and skiing. I wish I could. I was facing the same situation on my active account in early January. First, I had fears about unexpected dynamics of trading instruments amid low market liquidity in the days of Christmas and New Year celebrations. Then my fears were followed by great confidence in my trading decisions that led to higher volumes of positions I decided to open.
However, this approach did not prove itself. As a result, my active account accumulated a 15% drawdown in a few days. I was dealing with it for three weeks. Interestingly, it was the only bitter pill to swallow this month. Indeed, I’m glad about gains on the other trading accounts. Trading commodities brought me a profit of $716 and trading a cryptocurrency generated a profit of $346.
First things first.
Account № 1
As I said, in early January I opened several random trades of too high volumes. 4% stop orders were triggered twice. They are clearly seen on the yield chart judging by a sharp decline in the balance. The drawdown could have been solved promptly unless a series of break-even stop orders. The GBP/USD deal was the most memorable for me. It was opened at the price of 1.2002 with the aim to overlapping a southern gap. After retesting the level of 1.2000 and activating a break-even stop loss, the GBP/USD pair gained 670 pips.
Account № 2
Trading commodities made a decent return. All market entries were carried out sensibly from the technical viewpoint. Partial profit taking allowed me to expand profits gradually without worries about irregular price fluctuations opposite my positions. I’m especially happy with the trade on oil, which I opened prompted by the Three Indians pattern. Despite the fact that only the first target level was reached to fix a profit, the oil trade made an overall profit of $600. Besides, trading gold was also gainful. Long positions were opened only from the resistance levels with the classical risk of 1-2% per deal. This approach was beneficial, so only one out of three orders were closed by stop loss. The other two orders generated profits.
Account № 3
I certainly took advantage of the bitcoin, which skyrocketed to record highs in early 2017. After the price had surpassed the psychological level of $1,000 and bears had shifted stop loss which was above it, I expected the price to retrace and to test “the mirror level” of $800. My expectations came true and I earned a profit of $346 on the bitcoin deal on the long-term account.
To sum up, in January I was struggling with the market on my active account and was earning on commodity and bitcoin trades.
Dear colleagues, how did you start the Rooster year? Feel free to share your trading results in the comments to the article.
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