Hello everyone,
All those who have taken my Forex trading course know that I have a bunch of what I like to call The Golden Rules of Sensible Trading. They are basically a compendium of conservative, common-sense-filled rules to keep a trader away from ugly trades. Well, two of those rules are:
No trading on Interest Rates announcing days
No trading during public holidays
And we’re having two spoonfuls of just that this week: US interest rates on Tuesday (with a massive rate cut expected), Bank of England Meeting Minutes on Wednesday, and Easter holidays today Thursday and tomorrow Friday. So, all in all a nasty cocktail of elements powerful enough to viciously whipsaw our charts like a kite to the wind… And that’s precisely what’s happened! I feel for those traders who’ve been trading through these last few days because I bet a number of them have scored sound losses :(
Please take a look at the following video and you will see why the Golden Rules of Sensible Trading are there for a reason.
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20 March, 6:15 pm
Hi Hector, thank you for the good advices.
You say traders who traded these days probably lost money, but i guess it all depends on the method and timeframe. My thinking is that this is a zero-sum game and what is lost by someone is gained by someone else. Am i mistaken?
Nice holydays and happy Easter to everyone!!
Jaime
22 March, 5:04 pm
Amen to the Rules!
Nic
22 March, 8:11 pm
Jaime - aye you’re right, trading is pretty much a zero-sum game. What I meant is that most RETAIL traders lost money.
Happy Easter everyone!
-HECTOR-