Traders Laboratory - View Single Post - Reminder: Monday, May 28th US holiday
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Old 05-25-2007, 10:52 AM
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Re: Reminder: Monday, May 28th US holiday

IS - so to clarify, you recommend that if you have a good week, walk away on Friday before a holiday. What about if you had a bad week? Should you try to get it back on a day when the institutions are supposedly not there?

That seems backwards to me - if you had a good week, walk away. If you had a bad week, try getting it back on the day when the institutions are not there. I ask b/c you said nothing about having a bad week.

My point being that many retail traders do that exact thing - walk away when they made some money and try to get it all back on Fri when it's been a hard week. I would argue that just the OPPOSITE should be done - consider walking away if you find yourself in a rut on a Friday and consider taking some trades on a Fri if you are up for the week.

Case in point - the ES chugged along this morning till the 10am news release. Then we got a nice pop up. I enjoyed being a part of that move and the fact that it was a Fri before a holiday had no bearing on the trade. The trade produced and the volume is fine - 440k at 10:50am EST is plenty of volume for me. Keep in mind that 'thin' volume is relative to the market being traded.

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