Planning on weekends? | Forex Factory

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Planning on weekends?

  • #1
  • First Post: Sep 28, 2014 7:18am Sep 28, 2014 7:18am
Who of you, with a normal 9h to 17h job does the homework on weekends?


After a nice workout this morning, I sat here in the computer and have been going through CFDs, Commodities and Forex (OANDA) and have picked around 20 possible trades(different instruments) for this week and in the end I will review them, ordering by risk/reward and check which are more likely to turn out right.

How do you go about this? Do you just submit all your possible trades?

Or do you have a specific method for choosing out of all possible trades for the week?
  • #2
  • Sep 28, 2014 8:36am Sep 28, 2014 8:36am
Quoting vashst
Who of you, with a normal 9h to 17h job does the homework on weekends? After a nice workout this morning, I sat here in the computer and have been going through CFDs, Commodities and Forex (OANDA) and have picked around 20 possible trades(different instruments) for this week and in the end I will review them, ordering by risk/reward and check which are more likely to turn out right. How do you go about this? Do you just submit all your possible trades? Or do you have a specific method for choosing out of all possible trades for the week?
Nothing wrong with planning during weekends. Some people can do it, some don't.

I personally don't.

Reason: I normally decide trades on what is happening NOW instead of what I think would happen in the coming week. If there is any possibility that my planning will introduce an unnecessary bias in my latest decision-making, I would avoid it.

In any case, for me, weekends are for family.

YMMV.
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #3
  • Sep 28, 2014 9:41am Sep 28, 2014 9:41am
Ok, when through week and daily charts, saw 19 possible trades.
3 had a risk/reward ratio under 1:3 so they were left off.
Afterwards when setting trades, the ones(4) that required over 2% of my account to be used as Margin, to get a risk(stop loss) of 0.5% per trade, were left off.

Ended up with 12, some of which will not be filled, others may give a loss, others will run over a week.




skenobi:
That was one of my thoughts. Unless you were trading daily or even 4hour charts, this weekend study would maybe be worthless because the set ups you are looking for appear throughout the week and are harder to predict.
  • #4
  • Sep 29, 2014 11:08pm Sep 29, 2014 11:08pm
Quoting vashst
Ok, when through week and daily charts, saw 19 possible trades. 3 had a risk/reward ratio under 1:3 so they were left off. Afterwards when setting trades, the ones(4) that required over 2% of my account to be used as Margin, to get a risk(stop loss) of 0.5% per trade, were left off. Ended up with 12, some of which will not be filled, others may give a loss, others will run over a week. skenobi: That was one of my thoughts. Unless you were trading daily or even 4hour charts, this weekend study would maybe be worthless because the set ups you are...
On second thoughts, I think I should qualify my statements.

I do allow SOME bias in that I use H4 charts to determine the theme of my trends. And that's the only reason I USE the H4; I don't TRADE the H4.

For that, I don't really wait for the weekends to plan e.g. to check for trend changes. That's pretty much an ongoing process for me. In any case, I don't expect my trend "biases" will change much over a weekend, hence I don't plan during weekends.

Different strokes for different folks, I guess..

Good talk!
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #5
  • Last Post: Oct 8, 2014 9:10am Oct 8, 2014 9:10am
Tried last week this plan. Half the positions got filled, and half of these were positive or around break even, but I did not move stop loss to break even so many were stopped.

Repeated this week, on monday around 40% of trades were filled, moved stop losses when possible. Eur/USD is now at 150pips, HKD/JPY at 2000 pips, problem is when to move and where to move the stop loss. And this is trading by levels of resistance/support, filling entries when there is a spike in prices (what some call a stop hunt).

This is annoying but so much better than my day job.
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