avoid Friday ?

[quickg]

I cannot prove it but I feel Friday is the most chaotic day for daytrader.

 

[millsy500]

Friday afternoons i leave alone as the markets tend to wind down for the weekend and therefore choppy. Everyone goes home early etc.

 

[Racer]

How about avoid Monday cos people get up late after a long weekend and can't be bothered?

 

[millsy500]

would'nt they face the bullet if they did that??

 

[countryroads]

Wednesday's are iffy too !

How about avoid Monday cos people get up late after a long weekend and can't be bothered?

Wednesday can be iffy as people tend to take a mideweek break from the long hard slog of tuesday at work . It helps to know that you only face thursday at work before you slope off early on Friday !

So now we Know there are only two trading days in the week . :

 

[Splitlink]

I take no notice of any of that. Chart patterns form on any day. I, also, hold London shares over the weekend, too, although I've had gaps opening for and against me on Monday. That's the way it goes.

I don't advise that for index trading, though, or for US stocks. I am more in favour of day trading these.

Day trade them on any day of the week, though, if you like the setup.

Split

 

[charliechan]

How about avoid Monday cos people get up late after a long weekend and can't be bothered?

i find tuesdays are also a waste of time because people are just coming back to their senses after taking the monday morning off /long weekend.

thursdays are definately out of the question because people start winding down before fridays inevitable lack lusture performance - long weekends.

when i was on the floor, all the clerks would get wrecked on thursday nights. their attitude was that they may as well be hungover and unable to function on company time rather than their own time (the weekend).

judging from other peoples observation, this leaves wednesday between 12-2pm as the only time business can be done. unfortunately, people are out to lunch at this time.

 

[charliechan]

I take no notice of any of that. Chart patterns form on any day. I, also, hold London shares over the weekend, too, although I've had gaps opening for and against me on Monday. That's the way it goes.

I don't advise that for index trading, though, or for US stocks. I am more in favour of day trading these.

Day trade them on any day of the week, though, if you like the setup.

Split

have you thought of taking a pairs trade position if holding over the weekend?

eg, if you're long £x worth of ba shares on friday afternoon, try shorting £x worth of easyjet into fridays close - or other stock with high correlation usually to be found in the same sector.

obviously gap ups will not be as profitable - but you cant have it both ways.

 

[Splitlink]

have you thought of taking a pairs trade position if holding over the weekend?

eg, if you're long £x worth of ba shares on friday afternoon, try shorting £x worth of easyjet into fridays close - or other stock with high correlation usually to be found in the same sector.

obviously gap ups will not be as profitable - but you cant have it both ways.

No, that had not occurred to me. The grey matter can only absorb so much! Thanks, I'll give it some study, it seems a good way to have some negative gap insurance.

Split

 

[SOCRATES]

And no one has thought additionally to consider all the public holidays, Xmas, Easter, Independence day, Bastille day...plus the sporting calendar...and the football...and Cowes Week and Ascot....and then every other day is a Holiday....Marvellous !

 

[charliechan]

dont forget the jewish holidays either - new york markets tend to especially quiet during these times because many of the operators are jewish, and only give jobs to the chosen people. this is especially true of nymex and comex - one reason why the thread starter finds fridays to be thin - start of the sabbath for the chosen people so half of nyc goes home after lunch.

islamic holidays are not as important as i believe the koran frowns upon profitmaking and sees it as ungodly. the extent to which most muslims accept this i do not know. probably a fundamentalist thing. i met someone once who specialised in islamic law in order to provide banking and consulting services to islamic companies in the middle east. he told me this. basically, through accounting practices, he allows them to make huge profits, but not call them profits. some time ago. may be he should have had a chat with the late ken lay.

 

[Racer]

I have noticed that Saturday and Sunday tend to be rather quiet days on the markets, so perhaps might be less volatile times to trade?

 

[millsy500]

dont forget the jewish holidays either - new york markets tend to especially quiet during these times because many of the operators are jewish, and only give jobs to the chosen people. this is especially true of nymex and comex - one reason why the thread starter finds fridays to be thin - start of the sabbath for the chosen people so half of nyc goes home after lunch.

islamic holidays are not as important as i believe the koran frowns upon profitmaking and sees it as ungodly. the extent to which most muslims accept this i do not know. probably a fundamentalist thing. i met someone once who specialised in islamic law in order to provide banking and consulting services to islamic companies in the middle east. he told me this. basically, through accounting practices, he allows them to make huge profits, but not call them profits. some time ago. may be he should have had a chat with the late ken lay.

I think one of the first lottery winners was muslim in Blackburn. Not sure what he did with his winnings tho as i thought muslims were not allowed to gamble.

 

[TheBramble]

I have noticed that Saturday and Sunday tend to be rather quite days on the markets, so perhaps might be less volatile times to trade?

I've also noticed this. At first I just thought my screens were dead, but it happens every weekend.

So I've developed a special low-volatility hedge which I apply last thing before market close on Fridays. Works a treat.

 

[Racer]

Saturday Sunday
Quite quiet a time to trade, fairly frequent low levels of lackluster levels of violent volumes, to yet yield fabulous financial monetary mountains of lovely lolly to tempted traders.....

In other words? Is it really worth the risk... you stand to lose sooooo much!

 

[TheBramble]

Saturday Sunday. Is it really worth the risk... you stand to lose sooooo much!

But that's the beneficial bounty of taking trades with a known nuance of restricted risk.

Low volatility means there are not many of us prepared to step up to the plate over this period which means I have a largely limited market mass to take trades against. So I buy massive amounts of premium last thing Friday knowing it will be worth less when I sell Monday morning. But here's the winning angle on all this (and you'll kick yourself for not spotting it yourself sooner) - I know in advance how much I'm going to lose! Every weekend it's the same relative low levels of volatility so I KNOW in advance how much I'll be down come Monday morning. Much better than getting a nasty shock eh?

How many other traders can run as tight a P&L profile as that? I ask you.

But not all us whizzard wonders trade terrificly well while wondering willfully what went wrong with winding wondrous wishes while whistling wistfully.

 

[peto]

Saturday Sunday
Quite quiet a time to trade, fairly frequent low levels of lackluster levels of violent volumes, to yet yield fabulous financial monetary mountains of lovely lolly to tempted traders.....

In other words? Is it really worth the risk... you stand to lose sooooo much!

A wily old trader from Dartmoor
Found liquidity particularly poor
At weekends, despite skill
He could NOT get a fill,
but action was there, he was sure

The poor chap was afraid
"It's hopeless" he said
The answer was out there he knew.
Then at last he heard 'ping'
What he saw made him sing
Racer had taken his trade

 

[Splitlink]

But that's the beneficial bounty of taking trades with a known nuance of restricted risk.

Low volatility means there are not many of us prepared to step up to the plate over this period which means I have a largely limited market mass to take trades against. So I buy massive amounts of premium last thing Friday knowing it will be worth less when I sell Monday morning. But here's the winning angle on all this (and you'll kick yourself for not spotting it yourself sooner) - I know in advance how much I'm going to lose! Every weekend it's the same relative low levels of volatility so I KNOW in advance how much I'll be down come Monday morning. Much better than getting a nasty shock eh?

How many other traders can run as tight a P&L profile as that? I ask you.

But not all us whizzard wonders trade terrificly well while wondering willfully what went wrong with winding wondrous wishes while whistling wistfully.

Hi Bramble,

You're losing this elderly gent! I don't buy on Friday because I want to know what my loss will be on Monday but because I think that the price is right on Friday. If I thought that it would be lower on Monday, then I'd wait.

I wrote the above just in case you were serious, but I suspect that you are having us on

 

[trendie]

avoid Friday ?

what about "Sell in May and go away" ?
Thats a whole couple of months you could write off.
Doesnt leave a lot for trading the markets.
Just as well.
When else would we get the time to post here.

good trading for tomorrow, guys.

 

[millsy500]

Hi Bramble,

You're losing this elderly gent! I don't buy on Friday because I want to know what my loss will be on Monday but because I think that the price is right on Friday. If I thought that it would be lower on Monday, then I'd wait.

I wrote the above just in case you were serious, but I suspect that you are having us on

I'm sure Brambles extremely serious. Not trading on friday afternoon also means i can go to the pub! I suppose this is a kind of curve fit?? It works for me tho!! :cheesy:

Millsy