The Experts' Recommendations for Holiday Time
International Trading
They also give us their book recommendation for the summer as well as their forecast for the rest of the year.
1. What are your recommendations on how to trade Forex this summer? What should be the trader's tasks in August? What should we prepare before leaving for holidays?
2. What book do you recommend us to read this summer?
3. What should we do when returning to the markets in September and what is your forecast for the major currencies in Q4?Ed Ponsi
“It’s important to enforce discipline; if the market isn’t giving you a good chance to turn a profit, you have to sit tight or walk away […] Also, beware of rumors in the summer.” [Read all Ed's answers]Phil Newton
“There is only one thing to do: trade your plan. […] Assuming you have taken a break you should ease yourself back into you're trading routine.”[Read all Phil's answers]Dr Sivaraman
“If one wants to do trades while enjoying holidays then do 1 lot position trade identifying the extreme levels ( limitations) and keep lower level buy or higher level sell orders - whichever is filled you may keep a stop and limit of 50-60 pips.” [Read all Dr Sivaraman's answers]Marco Mayer
“I’ve seen both, summers where literally nothing happened and summers where the markets were completely crazy. You have to be prepared for both, when things slow down, so do I.” [Read all Marco's answers]John Jagerson
“If the market does slow this summer - I think it is the perfect time to start creating conditional plans not just for inflation but for a variety of potential market conditions that may emerge through the end of 2010 and 2011.”[Read all John's answers]Gonçalo Moreira
“I wouldn't take a slow price action during August for granted - instead I prefer to be prepared for possible cascades in price due to thinner market conditions.” [Read all Gonçalo's answers]
Rob Booker
“I'll be focusing my time and attention on the GBP mostly - the crosses and against the USD - and I expect to see some significant moves.” [Read all Rob's answers]Wayne McDonell
“Preparation needs to be made for a return from holiday, not before the holiday. Traders need to anticipate what the "investors" intend to do when they return.” [Read all Wayne's answers]Valeria Bednarik
“My recommendations will be to reduce your leverage, use a tight stop and be patient! Use cyclic indicators to support your trading, like stochastic, or CCI.” [Read all Valeria's answers]James Chen
"When it gets slow (which it never really does for me), I would definitely say that people should keep trying to learn and practice as much as humanly possible." [Read James' full answers]Ilian Yotov
“The carry trade has made a comeback. If this continues [...] in August, the higher-yielding currencies could remain well bid [...]. Traders should watch throughout the month of August if the current market environment remains the same.” [Read all Ilian's answers]
