Hi, I noticed that in some weeks, it is quite risky to trade. I’ve been in fx for less than 1 year. To those who are senior than me, can you please answer my question. When should I avoid trading other than NFP week?
Any time there are major news items there is the risk of volatility. The problem is only some of those news items can be anticipated (data releases, etc.). At the same time, it is often the cast that news items don’t drive any real increase in volatility. Keep your risk management solid and you should be able to ride things out without too much trouble.
One should avoid trading when a trader is making continuous loss or in a situation or tie when a trader cannot concentrate on trading.
I think one should stop or avoid trading when he see that nothing change and no improvement are happening on he’s work, better stop it when you know that you already invest huge amount of money and nothing profited from any of your trades. maybe you can think of another way on how can you make good earning from what you invest.:30:
I think that a trader should stop or avoid trading if he/she is too emotional or too eager for a fast success. Often emotions are a bad advisor and if you cannot control them , then you can easily blow your account. You need to stop and concentrate on your goals and forget that things will happen quickly. During important political events, Elections and big news releases we have to be very careful and monitor their impact on the market. If we are not sure how the results will turn out, then we should back off a bit and perhaps seek some information and advice in some analysis and in the forums of course so we can adjust our strategy.
When you take too much risk in your trade because are trying to make money through forex trading while you do not have enough experience and knowledge and you have not mastered your trading system and you are always losing a lot, that is when you must stop trading.
Most rookies close their first trade in profit and that provokes to over trade. I suggest keeping monthly target.
And let not all your entry by current market price.
Try pending orders too.
Volatile markets doesn’t mean it’s bad. More opportunities to earn as well as lose.
I believe if you’re losing money on a long run then it’s time to move on with something else. Otherwise, make sure you’re in a good plus and you always use your spare money rather than your life savings. You should be good and be able to focus on making an educated decision.
A trader need to avoid trading when he or she is in doubt and not certain on what to do. I tend to do better when i am in the right frame of mind free from disturbances and distractions that can negatively affect the way you trade.
Hi All,
In my opinion a trader should stop trading if he cannot concentrate on his trading. He/she must not gamble. He/ she must not stop trading if the market seems to be volatile
Stop trading when get broke??? Lol
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Hi,
When the market movement did not meet your strategy, you may stop trading. In Forex market, a good trader must know the time not to trade. You don’t have to overtrade and there is no need for trading daily. You have to wait for the right time to trade which meets your strategy perfectly.
- Jim
What is acceptable for losing trades…
Does anyone have any number that people use as a guide…
Any criteria…?
Thank you
I think thats great advice
hello,
i have to agree with JimAce too. Your trades depend on your trading strategy. Generally is better to avoid news in case you wish to have a ‘smooth’ price fluctuation and no surprises. It would be good to try placing some pending orders too.
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I wouldn’t really advise new traders to trade when the volatility in the market is high. This usually occurs after the release of a big news. There would be too much movement and sometimes if your platform is not cool enough, you may even experience requotes.
Newbies should obtain first the required knowledge and experience and skills that are required to trade with Forex Trading. else they would be just wasting their time and money.
Whenever your edge is not present. You will only be able to find that out over time by journaling and looking at when your performance is best and when it is worst.
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Best answer.
Those times might include scheduled news announcements, Friday afternoons, Christmas, the first 15 minutes of a session, and possibly even a few weeks over the August holiday period.
Times of low volume and times of the most unpredictable and sudden movements.
Don’t focus on the external, consider the internal.
You shouldn’t trade if you’re feeling emotionally volatile … or just feeling emotional at all period.
Even if you’re feeling great and euphoric you should avoid trading.
Emotions are profit killers in trading. If you don’t think you can trade dispassionately then don’t trade that day.
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