The year 2020 was very difficult for people around the world. However, for traders it was quite a profitable year: the volatility was so high that the value of many assets were changed in a few months not by 10, but by 100, but by 200% at once.
At the same time, despite the unpredictable perspectives, the trends were steadily upward or downward. 2020 was full of opportunities and everyone could easily earn on trading, with any investment abilities and skills. It was only necessary to choose a good asset, which was quite simple to do.
Summing up the results of last year, we decided to highlight the best asset in each trading category.
The most profitable currency trade of 2020
Trading with currencies, in general, was very profitable last year. A profit could be reached with both safe havens and risky or commodity assets in 2020. The key and the most profitable points in the opening the deals was the second half of March.
However, even opening the deal right on January 2 and then closing it at the last trading day, December 31, was quite profitable, but required traders to have nerves of steel and additional funds for the drawdown. However, the result exceeded all expectations. Which currency pair became the best of the best?
Number one in our rating is the USD/TRY. The dollar's position was weak against the major currencies, but in the confrontation with the lira, the US currency showed stable growth, which allowed traders, almost without drawdowns, to get a decent profit by trading with this currency pair.
Opening the deal on the first trading day of 2020 and closing it on December 31, you could get $19,169.4 of profit on each traded lot. Closing the deal in November you would earn even more - $33,331.2, with an investment of up to $3,000. Nominal growth was 24.1% YoY. The actual profitability reached 1111%.
In second place we put the USD/SEK currency pair. Investments in the Swedish krona were slightly less profitable. Last year you could earn $26,312.6 by opening the deals in March. But those who opened the deals in January or June could also fix a profit of $13,829 per traded lot on the last trading day of 2020.
At the same time, it would take up to $200 of investment, which made this currency pair a more optimal asset than the USD/TRY. Also in the top 5 we can see the more popular GBP/USD and USD/CHF pairs.
The most profitable trade of 2020 with Metals
2020 was no exception for those who invest in metals. Investments in metals were 100% justified: all precious metals, without exception, rose in price by 25-45%.
Silver became the leader in terms of growth. As for profitability, Palladium remains the best asset, which is increasingly in demand in industry and especially in the production of electric vehicles.
Opening the deal on the first trading day of 2020 and closing it on December 31, traders received $47,817 on each lot, or $478.17 on each purchased ounce of palladium.
But this was not the limit! Buying Palladium in mid-March at a price of $1,663, you could earn $73,957 on every lot. Despite the fact that in order to buy palladium, it would take at least 11,000 dollars of investment, each dollar invested in Palladium was eventually multiplied 5-7 times. Thus, huge investments were justified by 700%.
Be ready to find out about many other deals that turned out to be the most profitable in 2020 in our next review.
