Are you the type of forex trader who decides to take a time out during a global crisis and waits for the situation to cool down or do you prefer to at least try and take advantage of the opportunities presented?
I am trading through the crisis, but use a different account for it in order to shield it from the potential fall-out.
I’m with you. If you’re going to trade for yourself, you have to learn how to trade no matter what’s happening; because there’s always going to be something. The "always going to be something should not be confused with sitting out because the market is not giving you the signals you need to enter.
That’s one of the things I love about trading. One traders personals global crisis, is another traders global opportunity. Russia is falling apart on one hand; on the other US and Canada are getting stronger. The traders who bought oil at %107 are in crisis; Traders who bought when it was $60 cashed out when it was $107 now have their money under the mattress and are waiting for prices to level out and they’ll jump back in to ride it upwards again.
I defer to what I consider was one of your best quotes. “it’s tough business out there and you better know what you’re doing.”
I agree with both posts above! As gp0053 mentioned: One trader’s pain is another ones gain. I also think TheLastBear’s suggestion to trade from a different ‘crisis’ account is a great way to not allow it impact your ‘normal’ trading. Sitting on the sidelines in order to wait for the global situation to be free of major conflicts means you will never trader as there is always something going on!
I try to have a strategy that is antifragile enough to benefit from a major crisis.