We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 2.25% Gold: 0.65% Oil - US Crude: -1.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/baGqMWQ4zE
  • 🇺🇸 Michigan 5 Year Inflation Expectations Final Actual: 2.7% Previous: 2.5% https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇺🇸 Michigan Inflation Expectations Final Actual: 3.2% Previous: 2.1% https://www.dailyfx.com/economic-calendar#2020-05-29
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.13%, while traders in US 500 are at opposite extremes with 77.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7zuiFgkwj4
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 2.00% Gold: 0.48% Oil - US Crude: -1.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ICbXM6g3dk
  • Heads Up:🇺🇸 Michigan Inflation Expectations Final due at 14:00 GMT (15min) Previous: 2.1% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇺🇸 Michigan 5 Year Inflation Expectations Final due at 14:00 GMT (15min) Previous: 2.5% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇺🇸 Michigan Consumer Sentiment Final due at 14:00 GMT (15min) Expected: 74 Previous: 71.8 https://www.dailyfx.com/economic-calendar#2020-05-29
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: -0.18% Wall Street: -0.45% France 40: -0.95% Germany 30: -1.19% FTSE 100: -1.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YWyi6VjNe4
  • Fed's Mester says yield curve control is not for this phase of action where Fed is supporting market functioning
Guest Commentary: Trading on a Vacation? It isn’t a Vacation

Guest Commentary: Trading on a Vacation? It isn’t a Vacation

2012-07-04 04:00:00
Yohay Elam, Forex Crunch,
Share:

Forex trading is available 24 hours a day, 5 days a week. In order to trade, you just need a computer connected to the internet, and sometimes a mobile phone is more than enough. This flexibility enables traders to trade whenever and wherever they want. However, this flexibility can also take its toll on your summer vacation.

If you take into account that you’ll trade during your vacation, this isn’t exactly a vacation. But as you are fully aware of it, perhaps you can take more vacations – making money and enjoying the sun at the same time. But for most people, this flexibility just denies them of clearing their heads.

A vacation is necessary for refreshing your body and your brain from the intensity of trading. When you return from the vacation, the recharged batteries will help you as a trader.

Checking out the markets

Some traders just use their mobile phones to check out their positions but promise to themselves and to their families that they will not trade, just feed their curiosity.

But if you are already connected and see what your open positions are doing, the curiosity may change into an urge to act. With limited tools and limited time available on your vacation, you might reach the wrong decisions and lose money.

And if you do take your time to analyze and make a sound decision, you’re not really on vacation: you are not enjoying yourself and you are not allowing your mental batteries to recharge.

Leaving Open Positions

So, you decided to go on vacation and disconnect from everything: no charts, no positions, no market alerts and no nothing. However, you had an open position or two and you still want to keep them open while you’re away.

This may still hurt your vacation, as you’ll be worried about what’s going on. It will either sit on your mind and trouble you, or you’ll find yourself connected once again. In both cases, you’re denying yourself a full vacation.

As aforementioned, if you take into account that you’ll be fully connected while travelling, it can allow you to take many such “half vacations”. However, if you want a true vacation, close all positions and disconnect from the markets.

Opportunities will always come and go.

Further reading: 5 Most Predictable Currency Pairs – Q3 2012

By Yohay Elam, Forex Crunch

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.