playervalue:
I’ve seen here on babypips and other forums, where professional traders advice people not to trade on Mondays and Fridays, but I’ve never seen a single reason why. So I’m asking, why is it not advisable to trade on Mondays and Fridays???
I just posted my thoughts on another thread. Feel free to take a look.
IMHO, the main concern of opening a position on Friday is getting stop out due to higher over the weekend margins requirement for most brokers or getting gapped out. Unless you do not have a stop loss order in place, you will always have to worry over the weekends. Some trader who are able to execute a hedging strategy well and is prepared to HEDGE with a pending buy/sell stop order instead may worry less. Question is hedging a worthwhile approach to forex trading in today's world? I find th…
In addition to my earlier thoughts, perhaps scalping or trading multiple pairs simultaneously with lesser lot size for minuscule gains per pair may be feasible on Monday.