3 reasons why I’m going to stop trading right now (and why you should too)
Alright, it’s not like I’m going to stop trading for ever, it’s just for the rest of the week.
If you were thinking about taking some days off your trading, this one would be the perfect week to do it.
And here is why:
Reason #1 There are plenty of important fundamental announcements
Just take a look at the next screenshot:
Screenshot taken from: http://www.forexfactory.com/calendar.php
Thursday and Friday will be probably the two days with the most important news releases in the whole year!!!
You know what that means right?
A lot whipsaws, market going crazy, etc.
So I think you and me are better off doing something else…
Reason #2 Technically speaking, the market isn’t that clear
If you have been reading my posts for a while, you know that I like to trade when the probabilities are on my favor, when the market conditions are clear, when the market swings make sense, you get the point right?
Well, right now… the market conditions are not as clear as I would like them to be in order to trade them…
In fact, I think its just the opposite:
- No clear swings
- S&R levels are all over the place
- Tight ranges
Why is the market like that?
Could be because of the fundamental announcements later this week, but the truth is that, no now knows, and you know what, I dont really care about the why.
The only thing I care about is that the market conditions are not ideal to trade, so I will go with that.
Reason #3 I could use a couple of days off
You know, I like to play guitar… And its been a while since the last time I played it, so these two days might be just what I was looking for.
Seriously… As a trader you know that you should trade only when the odds are in your favor, when there are low risk trade opportunities… and you know what, today is not that day.
So I think I’m better off not trading for the rest of the week (and you should do the same thing), take the rest of the week off, do something that you enjoy and go back to trading early next week.
Not trading is also a trading decision.
What do you think about the market in the last few days?
Are you going to trade on Thursday and Friday
What do you do when you are not trading?