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Friday Trading?

  • #1
  • First Post: Jun 13, 2009 10:05am Jun 13, 2009 10:05am
Good day everyone.

I am new to the site and Forex in general but have been studying like mad for a few months before i go 'live'

On quick question, in most of the educational stuff i have read the recommend not to trade on a Friday under any circumstance. Is this right and why? I notice Friday seemed to be like a normal day on here as i followed the threads.

Anyone shed any light and most importantly stay lucky

Thanks in advance
  • #2
  • Jun 13, 2009 10:22am Jun 13, 2009 10:22am
Welcome aboard YoungMan...

well, fridays... it depends on your trading style.

If you tend to be a long therm trader, fridays don't upset you too much....sice you are already in the market an plan to stay for a while (weeks, months)... but even the long-therm traders avoid entering positions especially on late session of fridays (US session...)

If you are a intra-day trader, if you catch the early session (asian/london overlap) you can still trade regularly, IMO.... but, don't expect decent moves after london closes...

If you're a scalper, aim for the frankfurt/london open, and call it a day once london closes... cause liquidity/volatility decreases a lot on late fridays (US session "after lunch")...

HUh... that's only my very personal opinion.... hope that helps...

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #3
  • Jun 13, 2009 10:27am Jun 13, 2009 10:27am
Quoting HouseTrader
Welcome aboard YoungMan...

well, fridays... it depends on your trading style.

If you tend to be a long therm trader, fridays don't upset you too much....sice you are already in the market an plan to stay for a while (weeks, months)... but even the long-therm traders avoid entering positions especially on late session of fridays (US session...)

If you are a intra-day trader, if you catch the early session (asian/london overlap) you can still trade regularly, IMO.... but, don't expect decent moves after london closes...

If you're a scalper,...
Cheers and thanks for the info
  • #4
  • Jun 13, 2009 2:16pm Jun 13, 2009 2:16pm
Quoting HouseTrader
Welcome aboard YoungMan...

well, fridays... it depends on your trading style.

If you tend to be a long therm trader, fridays don't upset you too much....sice you are already in the market an plan to stay for a while (weeks, months)... but even the long-therm traders avoid entering positions especially on late session of fridays (US session...)

If you are a intra-day trader, if you catch the early session (asian/london overlap) you can still trade regularly, IMO.... but, don't expect decent moves after london closes...

If you're a scalper, aim...
Agree. Although I would add one thing. friday trading 'on close' is OK as far as you are 'scalper' trading on 1W charts...Sounds strange, I know, but sometimes it can be OK to enter trade on Friday - and aim to close it "somewhere' next week. Of course it requires to have more cash...but ot is doable.
  • #5
  • Last Post: Jun 14, 2009 3:13am Jun 14, 2009 3:13am
Mr. Young Man,
The way you asked your question makes me feel that you are an intra-day trader and not the long-term guy. Hopefully I am right.

Friday is fine for trading. The only thing to keep in mind is that you should not hold your position for the next week. Try to settle your positions on the very day. Also, if you actually post your method of trading, we can figure out how you should handle friday.
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