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IG's 'Trade of the Week' achieved a hypothetical gain of 31.45% in 2024, despite only half of the trade setups being profitable. By risking no more than 2% of capital per trade and maintaining a positive risk-reward ratio, the analysts demonstrated effective risk management, resulting in a significant year-end profit.
In the latest trading update, a long trade on the Australian dollar against the US dollar faced challenges, nearing a stop loss but ultimately closing with a loss. Despite some negative trades earlier in the year, the overall performance for "Trade of the Week" concluded with a 31.45% return on investment, achieving 21 winning trades against 20 losses while risking only 2% of capital per trade.
US stocks surged to new highs, driven by strong job growth, with the S&P 500 reaching a record. The pound briefly hit a one-month high against the dollar but couldn't maintain its gains as investors returned to the greenback amid a lack of news in London. The FTSE 100 saw profit-taking following its recent rally.
French Prime Minister Michel Barnier's government was ousted in a no-confidence vote, marking a significant political crisis as left and far-right parties united against him. Analysts predict ongoing instability, with a high likelihood of fresh parliamentary elections next year and a provisional budget likely to roll over from 2024, delaying urgent fiscal reforms. President Macron faces pressure to quickly appoint a successor amid a divided National Assembly, complicating efforts to address France's fiscal challenges.
This week’s trading opportunity focuses on going long Arabica coffee futures, as the market shows signs of bouncing off support, indicating a potential resumption of the long-term uptrend. A stop loss is recommended below recent lows at 242.70, with an upside target set at 272.00.
This week’s trading opportunity focuses on going long GBP/USD, targeting entry around 1.3027. Following a steady uptrend since April, the pound experienced a pullback below 1.30 but shows signs of recovery, supported by positive divergence on daily stochastic indicators. A stop loss is set at 1.2950 to manage risk effectively.
Chris Beauchamp
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
hypothetical trading strategy achieves 31 percent gain with disciplined risk management
12:29 23.12.2024
End of Year Trading Results Show 31.45 Percent Profit Despite Challenges
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long arabica coffee futures recommended as market shows signs of recovery
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long gbp usd trade opportunity for the week of october 21
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