A year which comprises 12 months typically has 250+ Trading Days. 2019, for instance, consists of 252 trading days out of a total of 365 days in a year and mathematically translates to around 4.85 trading days a week. Please see our Bank Holidays Calendar.
How Many Actual Trading Days Do I Have in a Year?
Based on your trading style, 250+ days can work. Around 5 PM EST on Sundays is when Forex markets open, and that’s the time for higher spreads. During low spreads and when the price isn’t consolidating and, I trade, and so I only trade around 7 pm like from Sunday to around 5 pm on Friday.
Do I Trade All Those Days?
No, I trade only when the market favors my daily traps. Starting with a 1% goal on daily bases is achievable whatever the strategy. Note that it is different on Demo on your first trading day. If you are new, try out your strategy anytime an opportunity comes up. Basically in demoing, you learn the DOs and DON’Ts, meaning you should bring in the VOT (Volumes of trades) you can.
But, when you are getting set to go live, ensure that you live demo! Now, live Demoing is turning into a machine that involves trading with no emotions. You should stick to setting your 1% goal and do not read when the market is not right. Aim on reaching that goal daily and then closing for the day. Stay away from trading in excess because it will end up hurting you. That is a lesson I have learned over the years.
If you lose nothing in a particular day, be glad for that victory, for so many newcomers quit in barely one week or month. The risk to reward ratio is another role in it.
Let me reiterate that you need to trade any minute if possible but don’t develop a habit of doing so every time. You must balance life and do some work elsewhere to supplement your income. There are weeks I trade for just a few days to ensure that my 4-5% is assured weekly. My trading involves perfect setups alongside stacked confirmations. I usually call it major energy points. I fix an alert in a small number of pips to 10 pips to let me jump on the charts to assess whether to or not to take that trade.
This enables me to go on with other important activities for my life the way I deem necessary without spending time 24/5 on the chart.
What Becomes of the Forex Market When it is Holidays?
Other currencies respond pretty slowly to most holidays. However, only U.S holidays have my interest to a significant degree, and it is not particularly so because I reside in the U.S. The U.S dollar has an influence over many other currencies, so when the USD is moving slowly, other currencies do not move.
Forex Trading Calendar
What Transpires During Holidays?
Based on the country that has the holiday, when banks are not operational that period, the market goes much slower, and the spreads go higher considering that volatility is less. It does not imply that you should not involve in trading. You rather just have to be careful and choose alternative currencies without any correlation with the specific country being closed.
And during the Weekends?
Retail traders have nothing to do with weekends. You should not feel laidback by weekends as they can be a good time to sit back and assess your last week’s performance. Besides, trading in crypto with some brokers can be a good option for you during the weekend.
That is what I was fond of doing in my newbie years, but it was during the hay days of Bitcoin. So, it helped me to get a few corrections while riding on the Bitcoin wave. Presently I am not trading cryptocurrency at all but I will again when my strategy gives me the go-ahead.
Banks and similar financial organizations continue to have the right of entry to the currency market and that accounts to why big Gaps exist in the market on Sunday when markets open. It can be a positive thing if the trade you are holding happens to jump even more towards you or a bad thing if the opposite is the case. When it is weekend, stay away from holding the trade. Friday is when I close, and Monday is when I get back looking for re-entry.
This as well provides an avenue for another strategy to trade the gap in the weekend. This strategy is pretty well-known and could be worth your interest.