7 ways you can stay holiday trading can be successful
Holidays. Specifically, time around Christmas. This is the time when people look for presents and try and stay sane while WHAM’s “Last Christmas” is blasting from all of the loudspeakers EVERYWHERE! And yes, people around this time are more distracted, but trading never stops. It can only slow down for a bit.
But trading during holidays can still be profitable if viewed and applied properly. And so, we need to look at all of the possibilities and understand – how can we be profitable while holiday trading?
1. Do not get focused on the speed.
2. Follow the news.
3. Get ready for low liquidity.
4. Do not think that the rules are changed.
5. Do not get distracted.
6. Follow the graphs even more careful.
7. Be prepared for surprises.
1. Do not get focused on the speed.
Here is the thing – markets around holidays are slow. That we all know. And that is why we need to understand – there is no reason for us to be in a hurry at the moment as the faster we are, the more panic we are going to experience because of
the slow pace of the markets around holiday.
I would highly recommend to follow the international holiday calendar at this time as it is absolutely impossible to remember all the possible bank holidays that can influence your trading.
2. Follow the news.
Even though Christmas preparations take over our media at this time, there is no reason for us to stop following them. After all, politics and economy do not stop during the holidays. And they can still influence your performance in forex and stock market. So, even though it may be difficult, it is important to filter all of the unnecessary information and look for what is really important.
3. Get ready for low liquidity.
It especially concerns forex market. After all, the lower the liquidity in the forex market, the less traders are going to stay in the market. So, this is a sort of an extension of the first point, so to speak.
Even though forex is the most liquid market out there, the level of its liquidity can even vary during the day, let alone during the slow holiday market. In this case we just need to wait things out and in case you still want to trade during this time, just get patience to accompany you in your trading space.
4. Do not think that the rules are changed.
Rules are rules. They are the same regardless of the situation in the world. And they are always working the same. So, do not think that just because it is Christmas time you are going to bend some of the rules and points and be successful due to that. No. Keep on following your strategies and look out for all of the possible trading tools. Remember – they all work the same. After all, it is so easy to forget that
5. Do not get distracted.
Or rather do no trade when you are distracted. Can you get you daughter a Barbie doll? Does your wife really need that new diamond ring? Will your best friend get you a new iPad? All of these thoughts are going to distract you from trading and your attention is going to wonder somewhere in the opposite of needed direction. Those are the thoughts for outside-of-the-trading zone.
6. Follow the graphs even more careful.
With holidays upon us, there are a lot of people who can usually help you, who are not there for this time. And that is why you need to rely on yourself and yourself only. Remember that graph-reading course that you took online like two years ago? Yes, the one that told you EVERYTHING, even the information that you thought you are never going to have to use. Well, now is the time. Try and implement all of your knowledge right now. Watch the graph and look out for all of the possible signs
that can lead you to wins and losses.
7. Be prepared for surprises.
And I do not talk about the presents under the tree. I am talking about the unexpected turns and performances in the market. Although a lot of traders are going to go slower on the trades, there might be times for the comebacks and high activity. Be prepared to unusually rocky performance. But hey, that is the thrill we are looking for, right? Plus, do not forget to rely on your trading signals even more.
Will you slow down with your trades during the holidays?
