Ron Casey, FAPTurbo Expert Guide Author: Hey it's Rob Casey here ...Well it's that time of year again. The Christmas holidays are always a good time to take a break from trading and an even better time to catch up on some Forex education ...
Not Trading Until Jan 5th
The holiday season is a notoriously bad time to be trading Forex because there is often a lot of unusual and unstable behavior for a number of reasons ...
1) Long term traders often close out their large positions until after the holidays
2) Large companies stop making large purchases for operations since company operations often slow down at this time of year
3) Large companies often make strange unpredictable transactions due to year end book keeping
4) Most large Banks close for the holidays, or at least certain days during the holidays. These days can differ greatly from country to country.
In short, it is NOT business as usual and the markets will not usually behave as usual either so the risk you take trading during this time is usually greater than normal and generally not worth it. As a result I have stopped trading and will resume on January 5th
or 6th. You may want to consider doing the same. This is especially important for scalping strategies like FAP Turbo that require a stable sideways trading range during the off hours.
http://www.ninjatraderblog.com/
Great Time To Learn These Cool Techniques
While the holidays are a great time to break from active trading it's also a great to time to catch up on some Forex education. You can never know enough about trading ... and this applies to all traders, including EA traders. Right now you can get access to full length videos from two of the most celebrated trading authors of our generation ... The Free INO TV video collection that has been in our members area for some time often rotates the 4 free videos and right now they are showing videos from Jack Schwager and John Murphy.
If you don't know who these guys are ...
Jack Schwager wrote two of the biggest selling trading books of all time, the Market Wizards and the New Market Wizards. These books are interviews with some of the top traders in the world and will be a huge eye opener if you haven't already read them. John Murphy wrote the book on technical analysis titled, appropriately, "Technical Analysis of Financial Markets".
http://www.ninjatraderblog.com/
That gives you an idea of who these two guys are and why they matter. Both of these books are must reads for serious traders ... at the very least be sure to check out the free videos featuring these two guys while they are still in the rotation over at INO TV. The John Murphy video is well over an hour long and covers a lot of very excellent material that will take your trading to a new level provided you're willing to take the time to for the videos ... and why wouldn't you when they're free!
I'm going to be looking for more free top level educational material to share with you over the holidays so keep any eye open for the next newsletter because there's no better time to prepare and make next year your best trading year ever! The current INO TV videos are some of the best on the web and may be rotated out to other videos at any time so go grab them while they're still free.
http://www.ninjatraderblog.com/
