Friday afternoon trading
I decided to see what a Friday afternoon trade would look like. If I was actually trading, I could've had a win but not sure if I would make this trade. It got a little dicey when the price started going back up and I moved my profit target from a R/R ratio of a 3 to a 2. It didn't hit on the first low point. I think I would've moved the stop loss to the 2 R/R if I was using NinjaTrader. However, it would've closed at the 3 R/R if I were more patient. The main point of this post - Why does no one trade in the afternoons? It seems like that is when everyone is filling/closing positions, typically with the daily trend, many times with higher volume.
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5 comments
• Sep '24 (edited)
Today was an abnormal Friday due to NFP news release this morning. I wouldn't use this Friday as your data set. Try some other Fridays, get a feel.
Yes afternoons are tradeable, but they lack the momentum, volume, and volatility compared to the morning.
and the second part to this, is New York and London are both open simultaneously from 9:30am est to 11:30am est. We have New York opening and London closing compounding the volume.
Fridays and end of regular days can be good to catch the sell-off that happens late afternoon, usually some good opportunities there between 2pm to 4pm. Typically by 3pm or so the volume tends to dry up and not alot is going on.
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When you trade is completely up to you. Usually though, people are done early, and kick off the weekend early. I got done trading this morning, and just monitored the charts.
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• Sep '24
boss move. Gotcha. I just watched this morning because of the news. Thought this afternoon seemed to get more stable.
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• Sep '24
I trade in the afternoons, usually during power hours as it coincides with my lunch time on the west coast. I know other traders that trade the afternoons as well, but Fridays tend to be volatile at the end of the week as positions are getting closed going into the weekend. Typically it's capital preservation Fridays for me but I did take one trade this afternoon that panned out.
Had originally planned for 3R and was about $300 shy of it, but I took a little over 2R instead when that top candle got reduced to only a wick. Was also counter trend so 2R or even 1.5R might've been a better expectation to have.
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• Sep '24
Took the same trade for 2R 👊
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Lewis Springer
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Friday afternoon trading
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