Anyone of you puts in a position at the beginning of the week and makes money friday?

Beginner Questions
1

This really is my dream way of trading. Put in a position on monday the start of the trading week. Checking on the trade periodically daily and finally closing the trade and getting profit at the close of the week. Of course such a trade would only work if the market was trending for the entire week in 1 direction.

Currently i put in positions daily. I would say i have been trading mostly on sideways markets and i have not really traded in trends because i seem to close off my positions when there is a rebound or i somehow didn’t catch the trend.

Now i don’t spend hours or long periods of time starring at my positions but my mind is constantly on them. It’s somehow like i still need to spend some amount of time making sure they don’t hit my sl too quickly so i widen my sl or shorten my tp from time to time and my trades are mostly based on the 1 hr period so the price obviously doesn’t move much.

Do i need to have a higher skill lvl, more experience, more guts to put in trades that will involve a longer time frame so that more pips will be bagged and i can earn a lump sum of money at the end of the week rather than opening and closing trades on a daily basis.

Anyone has any advice to share for a newbie that is going to attempt to trade on a longer time frame opening trades that will involve a few days in a row and who knows even holding positions over the weekends.

Currently the only reason why i sometimes hold trades over a few days is because the price has gone into the red so that my trade is in the negative so i obviously leave it open hoping it will go back into the green again and it’s not because i am confident that the price will move in my favor bagging me even more pips.

2

Unfortunately the price of any currency pair, stock, share, index or commodity does not care what day of the week it is.

You need to trade price action at the point in time which agrees with your trading method of execution.

3

Well it appears that daily charts obviously suit your trading style however maybe try 4 hourly charts too as they are good for weekly trades. Im the sort of person whom always likes to be at the computer trading, bit of an addict maybe and i always like to be trading throughout the day. If im not something is wrong :stuck_out_tongue:

You obviously have a mindset of what you want to do you just need to find a system to trade it and thats the hard part

4

The market is unpredictable. It’s like having a bipolar personality so to speak. It is already hard to predict where the market is going during the day let alone in a week.

If you are going to try this, you might wanna look at monthly, weekly, daily, 4hr, 1 hr. time frames to trade. I haven’t try this approach and… I will never do. Holding on trades in a week will drive me nuts. I like bagging those pips while it is there.

Also, your approach of holding on trades in a few days “hoping” to go back is a bad idea. What if it will never go back? What are you going to do then? It seems like your are more towards investing than trading. Those are 2 different approach.

I hope it will work out to you…

5

[B]hello…world…I am coming…:5:[/B]

6

of course, every one dreams about such. the question you have to face is, how do you go about achieving it?
obviously you are new at this and you need to dedicate a lot more time to this.
take action to fulfill your dream.