Saturday November 18, 2023 - 16:44:35 GMT
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[Trader Alert] Thanksgiving is Not a Normal Trading Week
This is an alert I like to repeat each year at this time.
As we look ahead to next week it is important to be aware that this is not a normal trading period.
Just keep this in mind, especially as the week winds on. While there may be exceptions, this tends not to be a typical week.
The week encompassing the US Thanksgiving holiday on Thursday is one characterized by thinning liquidity. Many in the US will start traveling by Wednesday and those still trading on that day will be looking for early exits. So, while US markets are open on Friday, trading will essentially wind down in the US by mid-week.
This suggests it will be a week characterized more by book squaring and position adjustments than taking on new positions. This does not mean there will not be trading opportunities during the week but keep the state of Thanksgiving markets in mind when trading. This suggests limited follow although nothing can be ruled out in the world of global trading.
My Thanksgiving trading story
Many years ago, before there was electronic trading, I had one of my best trading days on the Friday after Thanksgiving. US currency futures markets went wild and overwhelmed a thin interbank market. It was a great day!
For several years after I came into the office on the Friday after Thanksgiving hoping for s repeat performance. Much to my disappointment, there was never a repeat performance. That Friday proved to be a one-off.
To sum up, while global markets are open, US trading will be increasingly thin and essentially wind down by mid-week.
For those trading, I suggest getting access to The Amazing Trader and newly added AT Alerts as it will give you clues when real money orders are going through in a holiday-thinned market,
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