The market is open for all traders at all seasons. However, there is usually a break on the 24th and 25th December. The exchange market is often closed on these days to enable brokers and traders celebrate the Christmas season. Begineers are advised to close their trades unfailingly on the 23rd of December except they are willing to carry it over tilll 26th December when the market often resumes. Equally, begineers are admonished to refrain from trading during this season except for experienced traders. This is because the market exhibits great volatility during the Christmas season. Nevertheless Wikifx platform remains accessible to all South African traders and global users during this season.
The Forex Market is open for trading all through the season. However there is often a break on the 24th and 25th December. Daily traders are therefore expected to close their trades unfailingly on the 23rd of December.
More so, the market is often closed on the 31st of December to mark the new year celebrations.
Generally, the market remains very volatile during the Christmas season. This is because most institutions often book profits during the Christmas season which often affected the market immediately. Whales equally use this season in manipulating the market taking sudden profits and pumping unexpected pairs. Often the greatest volatility are witnessed in Gold, EURUSD, GBPUSD, indices and Silver. These pairs have been recorded in the past to have moved up to 100 pips in just one day during the past Christmas seasons.
While experienced traders see this as an opportunity to make big profits from either Longing or Shorting the market; amateur traders are advised to close their trades during this season except when they are sure of the market trend as to avoid blowing up their accounts. It is also better to safeguard ones account during this season and continue next year than to loose it due to sudden great volatility coming into the market during this season.
Above all, the Wikifx platform remains open and accessible to all users and traders during this season.
Wikifx articles and news updates will still be posted daily for our readers and visitors.