Bank Holidays

Beginner Questions
1

Hi a query, i know it is generally bad to trade during bank holidays. I am from the UK and live in the UK and i am looking to trade EUR/USD, but on the 6th and 9th of april these are bank holidays in the uk.

Just wondering how this effects trading on a whole not just EUR/USD?

Since im off work these days should i trade them or not? What do you guys think?

Thanks

2

Absolutely not, I’m not saying you will definitely lose money, but it’s just not worth it, I never trade on normal Monday’s anymore, purely because is not good for your psyhce, same with Bank Holidays, don’t bother, take time off and enjoy yourself, open a bottle of wine or two!

3

Quite agree with PPF. For me trading is all about predictable moves. A number of people will leave the market on Bank Holidays - some because the banks are closed, others because they could trade but are actually off doing other things, perhaps sharing a bottle of wine or two with PPF, washing their car, whatever - and that means that Price is much more likely to drift around aimlessly rather than giving decisive moves.

It is tough enough to predict this stuff at the best of times, so personally I would avoid trading anything that makes it even less predictable than normal. I’d maybe carry a longer term trade through a Bank Holiday, if my trade management rules let me, if my Stop were in the right place (I would not expose risk, but I might expose a portion of profit), but intraday trading is a total no no for me on Bank Holidays.

As PPF says, this does not mean that you would definitely lose money (Price can only ultimately go one of two ways, after all), but it is certainly less stable to trade. I could decide right now that I intend to go long EUR/USD on every NFP for the rest of 2012. If I then do that, and win every time, that is still not good trading - I just got lucky. Same with Bank Holidays - there would be too high an element of luck involved in any win for me to want them on my trading plan. There aren’t that many in the trading year, even here in the UK - you can take those few days off and still make that million.

ST

4

Thanks for the feedback guys :slight_smile: much appreciated. Im still a newbie but
Im getting close to trading live, i think ill demo trade those days so if i lose then i gain expetience, plus i havent traded on a bank holiday before so it will be an interestinh learning curve.

Thanks