When holding trades for days and sometimes weeks does it matter if you see a valid entry signal on a Friday/Monday or over the weekend? Will you hold off entering the trade until Tues-Thurs or jump in when you see the signal regardless of when it is?
This is assuming you have a 9-5 and trade on the daily charts which you check in the morning and evening so don’t have the opportunity to set up optimal entries in the shorter timeframes.
The only problem I see regarding open trades during the weekend is that my broker won’t guarantee my SL or TP. The best I could get from them is “usually” they will be honored but again, “not guaranteed.” I won’t name them but they are MT4 based. d
It depends for me, if there is a long term setup that fits my strategy I’ll take it. However, if there is a scalp which sets up, I’m reluctant to take anything with the weekend coming into play.
End of the week profit-taking/weekend-open gaps etc. could really throw off a scalp or low profit target trade.
I don’t trade on Fridays. However, I don’t discredit what a Friday did and will directly translate that into the limit orders I set over the weekend awaiting Sunday night’s open.
I do trade Mon - Fri. but sence im from nyc i trade at 11:15 thats it. but i make one big trade, for that day, so i’ll be able to see my profits on the next day. Swing Trading
it really depends on how and what you trade. i traded this Monday on 14 pairs and got 1535 pips. trades lasted about a day or so. then I stopped and reversed and got back in the other way now that’s in profit. gotta love price action!
trade times and session are indifferent to me. a move happens when it happens and the charts tell me what to do and when to do it. nothing else.