Fridays Trading Strategy

moski

Recruit
Messages
2
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.
 

Pharaoh

Colonel
Messages
19,708
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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