Trade or not trade the news especially on Fidays

Hi all,

Today I wanted to trade like on the previous day on GBPUSD but after reading Babypips news I realised there were higher risks due important news planned during today’s morning until around 1PM (knowing the market close on Friday at 4pm…so less probable target profit for higher risk…) : as a result I didn’t trade taking into consideration the above and the time to acknoledge the news.

However, I would like to know if usually it is a better practice to avoid trading the news especially on Fridays.

IMO, and it’s debatable, only significant news affecting the economy, major political changes, or Covid 19, would for a short time be an aspect to consider.

As for Fridays, it’s my most profitable day of the week over the last 8 months being an intraday trend trader. In my view it’s human nature for the big institutional traders NOT to rock the boat or take risky positions going into a weekend, because nobody wants to be fearing an unsuccessful outcome come Monday morning. Humans, even traders, want their weekends to be enjoyable.

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@steve369
“nobody wants to be fearing an unsuccessful outcome come Monday morning. Humans, even traders, want their weekends to be enjoyable.”

I had the same feeling, but my decision was equally motivated by the fact I didn’t know where to quickly cross check the news in regards to the Economic Calendar. Hopefully from next week I could equally trade on Fridays (during mainly the London session).

Wow this is interesting. I suppose it works for you because you trade intraday. When I enter on Fridays I just find it so stressful having open trades going into the weekend. It’s either I’m stressed or I completely forget i even have trades on lol.

Well, if it causes you stress, don’t trade until you are able to trust your strategy to deliver. IMO, even if a trade loses, WHICH IS INEVITABLE, if it was a good trade that met all your conditions, you should pat yourself on the back and go out and celebrate life.

There’s always another trade waiting. Treat it exactly the same.

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i usually keep my position open on friday. if i think its better to exit, then i’m out else, SL is the best way out.

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Nothing truer. :white_check_mark:

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@frodo23 Everytime I ask my broker the cost for keeping a position open over the weekend he just provide me a strange formula…so I prefer to avoid (further) surprises.

If you know the trend, I think you can trade everyday even when big news are coming out.