Forget About the Market
|DANGEROUS WEEK - Just a heads up that this week is a dangerous week for traders. Why? Well, ironically, because the economic calendar is exceptionally thin and because the US market will be taking leave around midday Wednesday for the remainder of the week for the Thanksgiving Day holiday. So if you have come into this week excited about your next trade and intent on taking positions, you better step back and seriously consider the actual reality of the situation. The reality is we may not see any movement at all this week and there could be zero reason to be taking on risk.
SOMETHING ELSE - Monday's price action has already foreshadowed the way things will likely go this week, with not one of the major currency pairs exceeding its average daily range into the North American open on Monday. Usually by that point in the day, there has been enough volatility to at least inspire a good chunk of markets out of their daily ranges. And yet, on Monday, nothing at all. So what to do? Do NOTHING! There is no reason to be taking positions when you don't need to be and I would recommend occupy your time with something else until fuller trader resumes next week.
EXPECT NOTHING - This way, you get into the right frame of mind of expecting nothing. And who knows, maybe then we finally do get some interesting price action this week. But I think the best course of action is to simply forget about the markets and keep busy with something else that excites you. As a reminder, we are heading into that time of year where this type of lackluster trade is common place, with the markets coming into the holiday season. I for one have enjoyed a fantastic year and don't plan on blowing it all away because I was bored. Anyway, let's see what happens.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.