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Fridays Trading Strategy

Discussion in 'Hello and Welcome' started by moski, Nov 9, 2007.

  1. moski

    moski Recruit

    Nov 7, 2007
    Likes Received:
    Iam relatively new into forex(1 month experience). I was told that fridays are not good for trading. However, I have been using the following strategy on fridays and it has been working. I made over 50 pips today with it. It's simply opening a weekly chart and looking at the trend of the market. If up, buy and place a stop just a bit below the close of the previous day; a limit close to the pip difference between the open and close of the previous day. And vice versa for down trend.

    Ur comments are welcomed.:unhappy::confused:

    This strategy has been working for me.
  2. Pharaoh

    Pharaoh Colonel

    Oct 3, 2007
    Likes Received:
    Trading with the trend is usually a good idea (except that some trends broke down in the last day or two, much to my disappointment).

    Your idea definitely sounds reasonable and would be worth back testing.

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