Trading Binary Options on Christmas – Holiday Season Fever
Christmas time is an important time for binary options traders. The holidays are often marked by low volume and high volatility. The most frequent question I get asked at this time of the year is “what do I do now?” The best answer I can give is take a step back and get a fresh view of the markets.
Christmas is just around the corner and I have been getting question after question from my trading buddies all to the effect “its Christmas, now what do I do?”. Believe it or not this is a valid question for more than one reason. For one, it marks the end of the year. Most professional traders, money managers, investment brokers, institutional investors and nearly everyone else trading in the equity markets have been targeting the end of the year all year. This means it can often be a time of change. If the mass of the market has a different out look for the next year than it did for this year the market could reverse, or rally, or consolidate. Adding to the uncertainty is the fact that it is a holiday. The markets are closed part of the week and when it is open not many people are trading. The best answer I can tell you if you have a similar question, and it is my favorite answer, the answer that is in effect the answer to the question why am I trading, is take a vacation.
It’s Christmas Time, What Do I Do?
It’s the holidays for Pete’s sake! Take a break. There are much better things to do with the time than spend it hunched over your computer screen trying to trade the end of the year/holiday market. You need a break. If you are a newbie to binary you have probably been doing a lot of studying, practicing and testing. If you are a savvy trader you have probably been doing a lot of reading, analysis and trading. Regardless of your status I’m sure you are tired. If not physically then mentally. Trading is hard, it takes a lot of education just to be able to talk about it intelligently much less apply it to real money. You may not realize it but your brain is begging for a break, once you give it to yourself you’ll thank me. What should you do on your break? Here is a list of some of the things I like to do this time of the year.
Go shopping! I love to go shopping this time of the year. The stores are so full of decoration and merchandise, I always have a long list of people to buy presents for and using my hard earned profits to bring my friends joy is personally rewarding. Not everyone has the budget to go out and buy up the whole store for their family. No matter what you need to keep some money aside so that you can do some holiday shopping. This, to me, falls right into the same category as the rent money, the grocery money and the date money. If you are using the kids, the wife’s or the girlfriends Christmas money to trade binary then stop.
Do something for yourself. This could fall into the shopping category but doesn’t have to. You may have had your eye on an upgrade to one of your projects, need some new bike parts or want to try out a new restaurant. This is the time to do it. It’s something you need to do, you have to take of yourself. Without yourself in top operating condition you cannot make the tough decisions it takes to be a successful trader.
Spend some time with your family. That is what the holidays are all about, isn’t it. Family, and community, is important to everyone and this is the time to show them just how much you care. Besides, it’s much more fun hang out with the kids than it is to sit in front of the computer all day isn’t it? Take some time and bake cookies, drink some holiday cheer and toast to the good year you have all had and the good year to come.
Reflect and plan. The end of the year is a good time to sit and take stock of the past year. Reflect back on what you have done, what you have accomplished and where you are in relation to your goals. If you keep a trading journal or log book this is the time to pull it out and look back on what you have been trading. Which strategies worked well, which ones didn’t. What was going on in the markets way back in the spring when you had that string of losses. Use this time to plan for the future as well. What are your new goals? Do you need to carry a goal from last year into this year? What are your plans for continuing education and how might you adjust your strategies to better profit in the new year?
The Answer To The Question: Should I Trade on XMas?
Hopefully this answers your questions satisfactorily. The Holidays are an important time of the year for binary traders but not in the way that many may think. The best and most savvy traders understand that the holidays are not necessarily a time for trading but a time to take a step back from trading. It is a time to spend some of your loot, a time to spend time with the friends and family, a time to do something nice for yourself and a time to reflect and plan for the future. It is a time to recharge your batteries and get ready for the new year. Of course, you can keep one eye on the market and take a signal if it pops up.
Incase you are planning to trade on Christmas, here are some tips: 5 Tips for Christmas Time Binary Options Trading