hi guys ,is it true that we shall not trade on friday
It depends, trading long term is probably ok but since you don’t know where it will open on monday makes it risky. The thing about friday is it’s the end of the week and there usually isn’t too much movement or movement is unpredictable (more than usual). Probably because people get out of their positions and not much moves happen. However I will say this, very early in some friday mornings I’ve seen some good trading opportunities. This is not to say you should trade on friday. All in all friday isn’t the best day to trade, but demo trade on friday and see if your trades work out or backtest your system to see how the trades have been going on friday. If it shows positive profit, and your comfortable with it, then go ahead. You could also keep a journal while demoing. One thing about keeping a journal is you can see specific times and days that are more profitable than others. (well, not specific times, but relatively around the same time assuming your system is mechanical.) Hope this helps a bit, others will most likely post to add to it.
With this trade style,
Friday as in Thursday 5:00pm until Friday close is pretty normal.
Friday as in Friday 8;00am until Friday close is not usually very good.
Hope this helps a little.
I never traded on friday.
Monday shows some promise. Maybe even Sunday night open.
Actually - this is a very good question or point!!!
I live in South Africa (GMT +02:00).
When is the earliest I could expect to trade on Sunday?
Which market opens first and at what time?
If you give it to me in GMT then I suppose I could work it out from there?
As a typical ‘newbie’ it has driven me crazy just sitting around the whole weekend watching my trading software which says ‘Closed’ on the bottom and no graphs moving or anything!!!
I used to have a life about a week ago!!!
Got to make up last weeks losses you know!!!
Man with all the trouble you’re having, i wish i could help with this one.