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I don't see any specific danger in the market, personally i Always shut down expert advisor activity before Christmas and resume trading around a week after new year. Days between i perhaps don't trade at all or if i got time i do some manual trading.....well thats the way i do it :)
Merry Christmas to you all *-<:-)=
It is just a recommendation (do not trade from end of December till the beginning of January). But I do not remember where it came from ...
For example, some traders do not trade on Friday, and some of the traders do not trade in the end of December.
Example with the settings of some EAs from this forum (from 'old but latest' versions of Terminator EAs and Mandarine EAs) -
For example -
24th of December 2018, Monday:
25th of December:
26th of December:
31st of December, Monday:
and so on
Could you elaborate on what kind of dangers ? I don't get it.
If a looked on past data around the same period, I don't see anything particular.
It has to do with the commonality between the increase of alcohol consumption around the holidays and bad trading.
https://www.youtube.com/watch?v=TP5cjnVGJ38No answer @Eleni Anna Branou ?
The charts on heavily traded currencies like EUR/USD, USD/JPY, EUR/JPY or EUR/GBP could look normal since the charts show price ranges [candle or bar sizes] that are similar looking to charts for normal trading days. However, if you check volume on the charts, you are likely to see it is much lower than on regular days. If you watch active charts on low volume days, and select to show both bid and ask price lines on your active chart, you will see prices swing somewhat or extremely wider, even looking erratic. So low volumes mean the price moves can be exaggerated and the chart patterns are usually uneven in real time. The distances between the bid and ask prices [spreads] can be very, very large compared to normal spreads/distances. Each trade from a thin market can jump around extreme price ranges because there are fewer traders buying or selling at any one time. The result of trading this time period could mean that you could try to buy or sell and never get filled, or if using market orders, your fill could be a considerable distance from the last price that filled. I'm sorry this is so long, but I hope it helps.
No answer @Eleni Anna Branou ?
During this period a lot of unexplained spikes happen and the forex market in generally very unpredictable because most of the big institutional players that control the market are absent.
This is my past experience of course. I welcome other traders to give their opinion on this matter.
The charts on heavily traded currencies like EUR/USD, USD/JPY, EUR/JPY or EUR/GBP could look normal since the charts show price ranges [candle or bar sizes] that are similar looking to charts for normal trading days. However, if you check volume on the charts, you are likely to see it is much lower than on regular days. If you watch active charts on low volume days, and select to show both bid and ask price lines on your active chart, you will see prices swing somewhat or extremely wider, even looking erratic. So low volumes mean the price moves can be exaggerated and the chart patterns are usually uneven in real time. The distances between the bid and ask prices [spreads] can be very, very large compared to normal spreads/distances. Each trade from a thin market can jump around extreme price ranges because there are fewer traders buying or selling at any one time. The result of trading this time period could mean that you could try to buy or sell and never get filled, or if using market orders, your fill could be a considerable distance from the last price that filled. I'm sorry this is so long, but I hope it helps.
During this period a lot of unexplained spikes happen and the forex market in generally very unpredictable because most of the big institutional players that control the market are absent.
This is my past experience of course. I welcome other traders to give their opinion on this matter.
Thanks.
I will check that more closely.