How Was Your Trading During 2020?
#394: How Was Your Trading During 2020?
In this video:
00:26 – What an interesting year!
01:06 - Trade the conditions you get at the time
01:21 – How was your trading during the year?
02:35 – My trading hours during the next 3 weeks
03:15 – Use the next 3 weeks wisely
04:07 – Wishing you all a fantastic Christmas and have a great 2021
How was trading for you in 2020? It was an interesting year, wasn't it? Let's talk about that and more, right now.
Hey, traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 394, and it's the last video and podcast for 2020.
What an interesting year!
Well, what an interesting year. Who would have thought back in January we would be in the situation that we're in now? Who would have thought we've seen all things that we've seen in 2020? Nobody could have predicted that, but for traders, it's actually been a pretty good year. Back in March and April, we had some unbelievably good trading conditions, made incredible returns because of the big movements in the market when the COVID really hit, and throughout the year we've seen some interesting trading conditions. Sometimes it's been a bit quiet. We've had the US election and all the buildup to that and still carrying on now, and so conditions have been a little bit quiet. Brexit still. Is it happening? Is it not happening in the UK?
Trade the conditions you get at the time
But as traders, you've got to just basically go with what the market's giving you at the time, and as mentioned, we have had some very, very good trading conditions throughout the year, sometimes a little bit quiet, other times exceptionally good.
How was your trading during the year?
But what I wanted to ask you is this. How has your year been in 2020? Has it been a good year, not such a good year? I suppose for a lot of people being able to now work from home and it's allowed people to adapt and accept working from home, working remotely. Things like trading has become easier to do. More opportunity to do it if you're not at work all day, so that's been a really good thing. But as a trader, what have your results been like and what are you doing to analyse those results, to look at those results and to think, "Well, this is what I've done this year?" Can't change it. This happened. Whether it be good or bad, but what are you doing now onwards over the next few weeks as we lead up to Christmas and New Year to ensure that 2021 is an exceptional trading year for you? What are you actually doing about that?
Are you reviewing the trades that you've taken this year? Are you looking at changing something? Are you looking at getting some education, some help, some support, do a course, read an ebook, watch videos? What is it that you are going to be doing now for the next few weeks and take advantage of this quieter time?
My trading hours during the next 3 weeks
I'm stopping trading Friday the 18th of December and starting again on Monday the 11th of January, so I'm just taking a break from trading. The market conditions are going to do one of two things. Either it's going to be very thin trading volume and the market's going to be crazy, or it's just going to be flat and dead, and of course you never know which, so for me it's just easier not to be bothering. There's plenty of other weeks in the year to be trading and making money from the market. It's just nice at the end of the year, have a bit of a downtime, bit of a relax and get ready for next year and so really, that's what I encourage you to do.
Use the next 3 weeks wisely
Yes, have some down time, some family time. That's what Christmas and New Year's all about,
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