4 tips on trading during Christmas holidays that you should mind.
As we have entered the last trading week of 2018, we are not going to dwell on the past, but rather focus on what the future week is holding in stock for us. In case you want to know what to do and how to trade during the holidays, stay with us for this article.
So, should we leap right into it?
1. Do not treat end of the year too lightly.
2. Rethink your stop losses and take profits.
3. Go into unknown territories.
4. Do not forget about calendar.
1. Do not treat end of the year too lightly.
End of the year has an interesting effect on traders and markets. Seasonal tendencies can be spot in all of the markets and we can clearly see them now in different segments of the market. And in this case end of the year is no exception. On the contrary – falls and losses are more visible right now. It is a perfect time to spot weaknesses and trade off of them in the future.
As the end of the year approached we should be more careful and tend to our money with even more attention than before.
2. Rethink your stop losses and take profits.
Right now volatility of the markets is extreme. And we all need to think about it through the holiday haze as we are trying to put down new trades. As an example in case you have a habit of placing your take profit 100 pips away from your initial order you might want to tighten that to 80-70 pips.
3. Go into unknown territories.
In case you haven’t been seen trading currencies that differ from USD and EUR, right now is the perfect chance to broaden your horizons. You need to especially turn your attention towards CAD. Its paring with USD is proved to be more volatile during the holidays and you can try and make profits with it.
4. Do not forget about calendar.
Of course, with traders being scattered all around the world it is hard to keep track of all of the holidays, but here are some of the dates when trading is not going to go well due to the major exchanges being closed.
Here is NY stock exchange. It is going to be closed for:
- January 1, 2019 – New Year’s Day
- January 21, 2019 – Martin Luther King, Jr. Day
- February 18, 2019 – Washington's Birthday
- April 19, 2019 – Good Friday
- May 27, 2019 – Memorial Day
- July 4, 2019 - Independence Day
- September 2, 2019 – Labor Day
- November 28, 2019 – Thanksgiving Day
- December 25, 2019 – Christmas Day
Here is London stock exchange:
- January 1, 2019 – New Year’s Day
- April 19, 2019 – Good Friday
- April 22, 2019 – Easter Monday
- May 6, 2019 – Bank Holiday
- May 27, 2019 – Bank Holiday
- August 26, 2019 – Bank Holiday
- December 25, 2019 – Christmas Day
- December 26, 2019 – Boxing Day
And here is Moscow
- January 1, 2019 – New Year’s Day
- January 2, 2019 – New Year’s Day
- January 7, 2019 – Orthodox Christmas
- February 23, 2019 – Defender of the Fatherland Day
- March 8, 2019 – International Women’s Day
- May 1, 2019 – Labor Day
- May 9, 2019 – Victory Day
- June 12, 2019 – Day of Russia
- November 4, 2019 – National Unity Day
Keep this cheat sheet close and you are going to be just fine. Knowing all of the major closing dates is going to give you a little more perspective on you trading through the year.
Are you going to trade through the holidays this year?
