Happy Chinese New Year everyooone. Haha. My family celebrates it even though we live in the Philippines (and barely have any Chinese blood in us ). All day, we tried to avoid doing a lot of things because of lunar new year superstitions. Like washing your hair, or crying, or sweeping the floor. HAHA. It just made me wonder. Are you aware of any forex superstitions? I know about how some traders consider the full moon to be a bad time to trade and invest money!
I’m not superstitious but I just will not walk under a ladder.
Likely comes from various studies that full moon lunar phase stocks perform on average poorer - not sure many follow that.
Then again there is WD Gann - that’s another story
Moon cycles in the markets « LunaticTrader
Until I can move my SL to BE, I wear my underwear on my head while trading.
Yes. Don’t trade after a spectacular win. Last week I had one of those “to die for” trades - nearly a 5X with a same day trade. I went for a cup of coffee and sat next to my wife. She reminded me that we had not seen each other for more than an hour at a time in the past week, and reminded me of my superstition. I ended up sitting with her for four hours, then fell asleep on the sofa. I awoke at 8pm, with an urge to get back to the computer for “the next deal”, but instead decided to relax, and did not return to the screen.
It does not always happen like that, but it was difficult not to trade in such an exuberant mood. If it is a Friday (for Forex or stocks) then definitely walk away. The week has delivered the best it can to you - don’t push your luck.
Also I will not walk under a bladder.
Nor an adder.
(that’s probably enough superstitions now)
It’s taken me a long time not to trade FX Mondays. This follows my avoidance of trading GB PAIRS particulary GBP/USD & JPY. AS A PURE TREND TRADER I just cannot get a handle on how they tick.
On the bright side my most profitable pairs are AUD/USD EUR/JPY & USD/JPY.
AND I wear a Buddhist necklace with my baby pips T shirt.
None for me! I don’t believe in it.
I had a lot of losses with CHF pairs when I started in demo. I know losing is part of the learning process but I still avoid them when I trade lol
The researchers measured the strength of traders’ superstitions by the regularity with which traders chose prices ending in an 8 and their willingness to avoid the number 4. Notably, the research team found that investors were more than 50% more likely to place an order ending in an 8 than an order ending in a 4.
I feel suspicious sometimes but I’m no longer ever superstitious. As for the full moon, I was taught that our bodies are made up of about 75% water. Our moon’s gravitational pull affects the tide. The more the pull, the higher the tide. That’s why they say “lunatic” i.e. “Luna” is Latin for “moon” and “-tic” comes from Greek and refers to a pathology or behavior trait. “Lunar” is the late middle English equivalent of “moon”. As they say “All the freaks come out at night.”
There is no link between forex and superstitions.
But now that you’ve said that, you’re bound to have a loser next trade…
I second this haha. I also don’t trade Mondays or Fridays religiously and also I stay far far away from GBPJPY. Glad to know I’m not the only one!
Happy Chinese New Year to you too, ria_rose!
As for superstitions related to trading, no, I don’t think I have any. At least not conscious ones.
This is an interesting idea, I wasn’t aware of any forex superstitions before but I did some research and found that some traders avoid the number 4 but feel that the number 8 is lucky. I’ve always avoided walking under an open ladder or opening an umbrella inside, but don’t necessarily believe in them. I walked up to an open casket once while pregnant and someone told me that meant my baby was going to die, so I’ve kind of felt icky about them since. (Nothing bad happened, but that definitely freaked me out a bit).
No, I would like to focus more on my skills rather than blaming anything else. I believe superstitions only drag you away from your path to success. They should be avoided and self improvement should be given priority for surety of success. I know some people who do believe in trading forex with superstitions.
I’ve heard of that before! Haha. And when you think about it, there’s a practical reason behind it!
That is interesting! I thought it was just a superstition that was drawn from the bad luck associated with the full moon, but it seems like it has basis. Now, I’m thinking whether this historical poor performance was caused by people believing this superstition.