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A Thanksgiving Trading Tale

13 Years ago | November 25, 2014 12/9/22, 12:00 AM

One of my forex trading tips is not to be complacent, which is easy to do in a week like this where the U.S. Thanksgiving holiday is not generally one when big bets are made. You can already see forex traders resigned to a holiday week where many in the US take an extended break. This does not mean you should not stay alert as I will explain in this Thanksgiving Tale.

Many years ago when I co-managed a small trading room, I went to work on the Friday after Thanksgiving, a time when many took extended weekends. I got some flak at home as my wife was not happy that I chose to work on a day I usually took off. Maybe it was a sixth sense but I had a feeling about that day.  It turned out to be incredibly active where I had one of my best trading days ever. Needless to say my wife forgave me for going to work when I told her about my day.

However, it was a great day that was not to be repeated. I went to work each Friday after Thanksgiving for years only to go home early when it turned out to be a dull trading day. I eventually gave up going to work on Thanksgiving Friday but that one stellar day taught me a valuable lesson, which is not to be complacent.  I am not saying this week will be any different but as that day taught me, when the market gets complacent, it pays to stay alert as markets can move when you least expect them to do so.

Forex Trading Tip: Complacency Can Be A Traders Worst Enemy

Jay Meisler, founder

Global Traders Association

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