What should a Forex trader do on New Year’s holidays?
So 2022 has come, and on behalf of the team of developers and professional traders of the information portal TradeLife.ru, we would like to wish all subscribers of our site a Happy New Year and Merry Christmas! We wish you health, happiness and fulfillment of all desires, as well as gain financial freedom and stability, so that all transactions you conclude are always closed with a profit, and Forex tradingbrought only positive emotions. With the arrival of the New Year, many traders do not know what to do with them during the holidays, as a result of which time is wasted, or the trader continues to work, but due to the absence of any certain trends, he makes many mistakes, which leads to losses and overwork. Therefore, in this article, we decided to pay attention to the following important questions: “How does Forex work on New Year’s holidays?” and “What should a trader do for the New Year?” For those who are just beginning their acquaintance with the Forex market, we recommend that you look at the Forex brokers rating page .
Where can I see the Forex work schedule for the holidays?
On Forex, the holidays begin already on December 25, this day is celebrated as Catholic Christmas, so we would recommend closing all positions and turning off advisors on the evening of December 24. It is better not to open new positions before December 31st. Despite the fact that Forex will work as usual, the movements will be small and unpredictable, so you should not risk your deposit. Forex also does not work in the first days of January. A more detailed Forex schedule for the holidays can be found on the website of your broker . There is an opinion that it is not advisable to start trading earlier than mid-January. So, Forex work on New Year’s holidays is associated with high spreads… Many brokerages widen their spreads in the early days of January, so it is necessary to check the spread size before opening trades if you want to start trading immediately after the holidays.
Others think that trading Forex during the New Years is too risky. How is the risk expressed? In the first days after the holidays can be a minor motion, so if you trade intraday , then put in front of a small target. Nothing changes for trading on daily charts , but scalpingit is better to abstain on New Year’s holidays, it will not bring you anything but losses. As for the advisors, it is better to turn them off, starting from the evening of December 24 and ending in mid-January. As a rule, all EAs are profitable due to stable trends or small price impulses for scalping robots. But on New Year’s holidays, the impulses are so small, and the trends are so insignificant, that trading in advisors on New Year’s holidays only leads to losses.
What should a trader do for the New Year?
As you know, any trader, especially a beginner, cannot imagine life without Forex, and the weekend is a painful expectation for him to resume the work of the foreign exchange market. What can we say about the protracted New Year holidays, here the trader does not find a place for himself at all. However, even this time can be spent usefully. We offer you some tips on how you can spend your time while Forex is not working:
- Get in shape. New Year’s holidays are a great opportunity to take care of your health. Instead of lying on the couch in front of the TV, go skiing, go to the pool, gym, or just spend more time outdoors. Also, trips to the theater or a company trip to nature are encouraged. Remember that in a healthy body there is not only a healthy mind, but also a positive attitude towards work;
- Take up self-improvement. Read books on the psychology of Forex trading, watch films that motivate you to trade. In our VKontakte group https://vk.com/tradelifeforex you will find interesting feature films about working on the currency exchange and a lot of other useful information;
- Work on the bugs. The New Year holidays are a good opportunity to look back and tidy up the trader’s diary . If you don’t have a trader’s diary yet, be sure to keep one. During trading, when you need to make instant decisions, there is no time to analyze the performed actions. By looking through the trader’s diary, where you make the necessary notes about trading operations, you can find the main mistakes that lead to losses and improve your trading system.
New Year Forex bonus from broker AMarkets
Finally, we would like to share some good news from the brokerage company AMarkets… Throughout January, with every replenishment of an account from $ 300, AMarkets broker gives a New Year Forex bonus in the amount of 20.16% of the funds deposited on the deposit. Moreover, every 16th replenishment of the account will be doubled, which will allow you to get additional profit from the invested funds.