Just curious if you folks do actually trade on friday’s ? Not talking about non-farm payrolls. Just regular Friday’s.
My trading coach, says he generally avoids trading in the mornings.
Any thoughts ?
Generally speaking I don’t open any intraday trades past 14:00 UK time.
There is less trading on a Friday and, on average, smaller pips movement so there is in theory less opportunity to make a profit
[QUOTE=“eddieb;661469”]There is less trading on a Friday and, on average, smaller pips movement so there is in theory less opportunity to make a profit[/QUOTE] where did that theroy come from it all depends in my opinion, I’ve seen Fridays that’s not NFP, and there is plenty of movement, all depends on what pair and what’s going on I guess
Pipschool suggests Fridays and Mondays average the lowest pips movement
Not trading on Friday’s is just down to cultural aspects. If you go to Mayfair on a Friday from about 12 noon all the hedgefund traders are chilling in the pubs so are all the market maker bankers. So as you can imagine there are few orders and as a result price movement is slim. That said some Friday’s do consist of major developments so most traders either want to take advantage of the fact come Monday the price will open higher a chance to close out their trades when Asia opens and the price gets marked up or down or they just want to profit take before the weekend or cover some positions.
These events naturally cause movement. Personally Monday and Friday are not as exciting.
I trade on fridays but not past 12 EST. Mondays are usually for a correction of the previous week’s gains so it’s usually a reversal of the longer term trends and some healthy pips can be earned. Again it depends on what pairs you look at. If you only trade EURUSD, then I guess these could be boring days.
It depends of the market, I do trade if there are some good movements, otherwise if the market is quiet not so often, but that’s the case even in the other days of the week not only Fridays.
I’m of the opinion Monday is the worst day to trade. Friday isn’t to much of a issue with me, I’m in bed asleep before 12 noon NewYork
i am more cautious on fridays about placing trades but i do not rule fridays out. i had a pending order on just yesterday. but it did not get hit after a few hours so i took it off. a few hours after i took it off it reached 5-10 pips from my entry, but seeing as it was getting late i had no desire to put the order back on
Mondays and Fridays are normally boring days. But if I can get better entries, I will normally normally go with those.