The Year of the Rooster

The year of the Monkey was marked by events that had far-reaching consequences for global financial markets, including the meltdown of the Chinese economy, the Brexit and Donald Trump’s victory in the US Presidential elections. This eventful year now draws to a close, with the year of the Rooster beginning from January 28, 2017.

The Dawn of New Hope

The Rooster is the tenth of the Chinese zodiac animals; and signals dawn and awakening. There is great hope for this year, as the Rooster symbolizes triumph and success, albeit resulting from hard work and patience. This is the reason 2017 is expected to be a positive year for the financial markets.

While the year may be positive, it is not without caution. This is because the Rooster is represented by only a single element, unlike most of the other signs of the Chinese zodiac, which contain multiple elements of the Chinese cosmology. The presence of all elements generally yields balance and fulfilment. On the other hand, the presence of a single dominating element, as in the case of the year of the Rooster, may yield instability and intensify volatility.

Trading Styles to Adopt in 2017

The year 2017 may present several attractive opportunities to succeed, but this success may neither be quick nor easy. Trading and investing should be done with longer term horizons, impulsive decisions need to be kept in check and patience would be rewarded.

In 2017, these three Cs should characterize all trading activities: Calm, Calculated and Consistent.

While the markets may become volatile, traders should avoid rash decisions based on instincts and impulse. Random and frequent changes are unlikely to play out well this year. Instead, traders need to calmly accept that there would be ups and downs and avoid getting flustered by the downs.

Trades may go against you temporarily, but a hurried exit may not be the best solution, as the patient may have a higher probability of being rewarded this year. Similarly, windfalls are unlikely in 2017, while careful calculations hold a higher chance of returns.

Remember that the year of the Rooster may be beneficial to trading as well as financial investments, provided you focus on using the best available tools for decision making and work actively on keeping stress at bay.

What Could Prove Lucky in the Year of the Rooster

Remember we mentioned the elements of the Chinese cosmology? Well, there are five, namely, Earth, Fire, Gold, Water and Wood. This is the year of the Fire Rooster.

The colour of fire is red, which doesn’t mean everything red would be lucky. On the contrary, it may be best to avoid this colour. Instead, choose colours that complement red. So, the lucky colours for 2017 would be earth colours like brown and yellow. Moreover, purple and lavender are also considered lucky as these have a calming effect on the mind.

  • Lucky Numbers: 5, 7 and 8
  • Unlucky Numbers: 1, 3 and 9
  • Lucky Stones: Amethyst and Topaz
  • Lucky Direction: Southwest
  • Unlucky Direction: East

The Year According to Different Signs

For traders belonging to different Chinese zodiac animals, the year holds different prospects and different threats. This year is expected to be a brilliant one for Dragons. The Rooster, Snake and Ox would also likely have a great year, while the Rats and Tigers should have a good year. The Sheep, Pig, Monkey, Rabbit, Horse and Dog would need to more carefully balance opportunities and risks. Luck may not go in your favour, but determination and strong willpower could seize the day.

  • Rat: Things may evolve gradually. Be patient.
  • Ox: A change of trading style and/or trying a new trading instrument may prove beneficial.
  • Tiger: Tactful trading and focusing on your strength would be important.
  • Rabbit: Unprecedented challenges may come your way, but perseverance will be rewarded.
  • Dragon: The year holds amazing opportunities. Think practically and don’t let sentiments get in the way.
  • Snake: The year is expected to be great. New trading instruments may hold better prospects. Avoid taking on too much risk.
  • Horse: The year has challenges, but hard work will help you achieve great results.
  • Sheep: Do your homework thoroughly and make extensive use of analytical tools for trading.
  • Monkey: Explore more in the domain that you’re familiar with. Being alert when trading will present great new opportunities.
  • Rooster: You may have good control over situations. Discard instruments that have not worked for you in the past. Trying new ones may present good prospects.
  • Dog: You may be faced with lots of ups and downs, but everything you do will count and benefit you in the future.
  • Pig: Find out new ways to trade. You might make more progress with detailed planning and analysis.

Preferred Trading Instruments

According to the Chinese Horoscope theory, the Rooster is associated Metal. So, trading in gold, silver and platinum may be preferred. The sign is also associated with energy, so WTI, Brent oil and natural gas trading may see an upsurge. Moreover, the trading in agricultural CFDs, such as wheat, corn, sugar and soybean, could bring luck.

Interestingly, 2017 is a Yin year. In the well-known Chinese Yin-Yang philosophy, Yin represents the female and “hidden” values. For trading, this suggests indices, since their value is not for their own sake or explicit, but rather is determined by their underlying assets.

Trading Tools to Use

It would be a good idea to develop a trading plan, with identified entry and exit points. Strong risk management tools, like stops and pending orders may also be used to prevent impulsive trading. A good charting tool is essential to trading during the year of the Rooster, since calculated decision making is what’s called for and long-term trading would need historical data for better analysis. Moreover, historical data brings out the value of underlying assets. A good market newsfeed to stay in touch with the latest happenings that impact the financial markets and disciplined checking of the financial calendar could prove to be useful.

The post The Year of the Rooster appeared first on Forex.Info.

Source:: The Year of the Rooster

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