In this Bangkok Forex trading vlog, I will be sharing with you how to solve the day trader dilemma of trading or not on Fridays after a good trading week. Vlog #544
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You’re having a positive week and now its Friday. A day trader’s dilemma. Do I go for it on Friday and risk locking in a profitable week? Don’t trade it? Or Keep it conservative?
The worst feeling as a trader is giving up weekly profits on Fridays and having it sit in your stomach all weekend while the markets are closed. What can you do?
Here are some options:
Take the day off
Or just trade in the morning, and then work on your trader or personal development. Do your weekend wrap-up work or prepare your new support/resistance lines on Friday and enjoy the weekend with a clear head.
Reduce size
Trade your plan, but have a note in your plan that allows you to reduce size so you can guarantee a good trading week will still be a good week – regardless of Friday’s trading.
Be more selective
Perhaps take only your 5 setups, or just let the algo run and don’t trade discretionary trades. You have earned the right to be picky. Enjoy the moment.
Go for it
Some of the best weeks are those where you just let some trades run. Risk management never takes a day off, but extending your target’s on good runners can turn a good week into a monster week.
About Me
My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader (who has the chance to travel the world anytime) and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
You see, a lot of aspiring Forex traders lack the confidence to pursue their dreams. I'm there not only to help you develop your confidence but also to implement the tactics that are proven to give you results. You'll develop Forex trading discipline and the other skills you need in NO time!
Ultimately, you'll get to experience what a day in the life of a Forex trader truly looks like, but you'll also have to be consistent with your Forex weekly review!
I produce a traveling Forex trader vlog and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!
All Products Used In This Video
- Camera: Canon EOS M6
- Tripod: Sirui 3T-35K
- Editing software: Final Cut Pro (Mac)
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If you got value from this video, you might want to consider checking out the Desire To TRADE Academy where I’ll help you develop a solid trading strategy, implement the things successful traders do, and more! That's all going to be done while you build a lifestyle you love!
If you are wondering how to put together a solid trading plan for trading Forex for others, I recommend you grab my FREE One-Page Trading Plan Template. It will help you simplify your trading strategy on a single page!
