Morning Everyone 
And I hope youāll forgive yet another question from me but, the reason I ask is that in BabyPips school it tells us that Friday can be volatile (or quiet, depending on your chosen trading session) and that the weekend is generally quiet also (barring some unforeseen circumstance); leaving Tues through Thursday (ie 3 days) being the optimum trading time.
However, I know from reading many of the posts here, that some of the more experienced folk trade 5 days a week - so would those 5 days be Mon-Friday in that instance? And also when advice has been given to newbies, the ā5 days and so many pipsā is often quotedā¦
Hope it doesnāt sound like a silly question - itās just that I know I read (more than once) to avoid certain days, yet the successful guys (and gals) here I believe trade more than 3 days a weekā¦
As always, Big Fat Thank You to each and every one of you who indulges me with your patience and advice :21:
PS. I hate to sound ridiculous but if Iām posting too many questions, would someone please (kindly) let me know - I donāt want to offend anyone or drive you all nuts, and also I donāt want to get banned from BP for being overly active with my newbie questionsā¦ For the record, Iām reading through my notes from school (now finished) and dipping back into school and still have these questionsā¦
Morning Jess,
Trade when your system provides a good trade signal, no matter what dayā¦ If anything, you will get stronger by learning thru whipsaws ( fast, up and down volatility)
Just follow your system, and make the trade when it tells you tooā¦
Follow the News, IE Forex Calander, and just give 20 minutes before and after to hold a freeze on your actionsā¦
PS: your far from annoying, so keep firing away, or you can start a, " Jess wants to know" thread, lolā¦
Have a great day,
Hi Jessey,
It all depends on your trading plan (technical/fundamental, etc). There is no āset in stoneā how many days you should trade in a week. It is true that some traders do trade 5 days a week (Monday to Friday) but maybe they are also trading 2, 3 or more currency pair because they have more experience.
For a beginner, I would say that you pick one currency pair for now (EUR/USD, GBP/USD,AUD/USD, etc.) to get to know how they react on certain news events, find the support/ resistance, pattern, etc. that way you are only focusing on one pair. I think it doesānt matter what day(s) in a week you should trade as long as you know what you are looking for and why you want to be in a trade. Look for the higher probability trade that will go in your favor.
In my personal experience, I use to trade everyday just because I want to be āin actionā all the time. I want the excitement and I am afraid ƶf missing out the opportunity. In return, I over trade and I lose so much more that I almost lose my shirt on (not literally but you know what I mean :)). Because back then I have a high expectation and wanted to double my money but all Iāve got is failure after failureā¦ Currently, my goal is to have at least 10% ROI consistently every month. In order to get there, I only need atleast 5 good trades in a month. Fortunately, I am now in my 8% return this month 6% of that is from Tuesday this week.
You also need to find out what kind of ROI or how many pips you are targeting for each week/month. These will help you to make a sound trading strategy so you will avoid to over trade or just be in the trade without any reason. If you want you can start say 25 pips a week (that is 100 pips a month) and see how you doing. If you cant keep it maybe lower it to 50 or if it is too easy for you then add more next month. Sometimes it is easy to get those pip in 1 or 2 trades in a week, it is just keeping it consistently is hard to do but with discipline and proper money management it is achievable.
The point is make a realistic goal and make it consistent.
I hope these will help.
Sheryl
In addition, you should also pick the time/session you wanted to trade either it is in London Open, New York Open, Tokyo Open, etc. I only trade in London-New York Overlap session from 7AM to 12PM ET. I donāt usually trade at London Open because I need my beauty rest or else Ill get cranky in the morning We all need beauty rest so we can trade properly
Trading should be relax and funā¦Not being so damn stressful that feels like we are chasing our own tail all the timeā¦lolā¦
Sheryl
Hi Jessey,
I am used to trade only The London Session, the best Session for all we are in Europe. And I try to trade everyday. But like MoneyNVRSleeps has told you, You trade only when your systems is telling you to trade. I have found that one of my systems doesnt work very well on Monday mornings. But every time my system gives me the signals to entry, I just trade. no matter what day it is.
Hi Guys, and Happy Saturday
Money, nice to āseeā you back on the forum - hope all is going well and that you had a good week trading. lol - the thread āJessey wants to knowā - fun idea but might drive everyone nuts. I thought by posing the subject matter in the title it was easier for people to check in or ignore, as they see fitā¦
Pip - thanks hon for your reply - some good info in there and it sounds like youāre doing well this month, good on you girl I personally will be trading 1 pair (EUR/USD) only and in the NYork/London session - keeping in nice nā simpleā¦ And yes, I agree, we girls do need our beauty sleepā¦
Luister - thanks for your input also, I appreciate that
Cheers Everyone - have a great weekend