Hi Guy’s and Gal’s,
This is my 1st year trading and was wondering what the forex market is like over the xmas hols and new year. I normally trade Euro GBP, Euro USD and NZD USD. Any advice or experience trading at this time would be much appreciated.
Cheers
Happy Christmas
Take a break and enjoy the holidays
I couldnt put it better than mr_piece. The greatest thing about trading is it gives you time off to recharge, read, study and relax. Enjoy it!
Markets very slow , best to just have a few days off and if wanting to trade use the time backtesting your plan ready for the new year
Have a great christmas
Its time off for day-traders, business as usual for long-termers.
Christmas Eve and Boxing Day tend to relatively quiet, but volatility will pick up again after the 26th.
Could always trade cryptos if you get the urge…
Good time for learning - absence of news helps.
For example you mention EG - have a look at the hr1 over recent days.
GBP is the smaller fish so the cross is more reactive to UK news - market numbers were negative since Monday - hence the flag from the beginning of the week.
But look again at the yellow line (level 85.00 - the low of 2019 with quite a few hits in the Spring) - see how price went up to 85.50 on Thursday past - but what happened Friday when Holiday mode kicked in?
Back to the line - it ran out of buyers - they were on holiday.
So that can set a scene for your mind post holiday - if price gets to be worked down in a thin market would the buyers be even more keen?
As they say markets don’t repeat themselves but they rhyme, if you are trading intraday I think it is beneficial to go back a few Christmas and check the charts for yourself.
This.
I typically trade for the long term and have one open position that will stay open. I usually don’t look to initiate any trades for the last two weeks of the year though.
Good time to work on your strategy if you are new and need it or just take some time away from the charts. We’ve got a whole 'nother year of trading ahead!
Happy Holidays!!
I just closed 50% of my position 10 pips prematurely, cause i was scared of what might happen. Now that i am reading this…maybe i shouldn’t have
Not necessarily a bad idea - if things go wrong during times of market closure and thin volumes, they can go wrong fast and a long way.
Slow, better enjoy your holidays.
That’s what happened - price stayed above the line but was worked down on New Year’s eve - buyers back this morning.
I spend my holidays with my family, no trading actually.
