As part of my risk management, I would not normally place Income Generator trades on a Thursday evening, as they are quite risky until day 3 ... and since tomorrow is "Will and Kate" day in the UK, and it's a public holiday I am rather thankful that the trades I placed last night did not trigger. Add into the mix that Monday is a public holiday too, and I am rather pleased that all my open trades have now closed ... (mostly against the "Take Profit" values I set, but once against the "Stop Loss" which was still, by that point, in profit :)
Taking this all into consideration, there are no trades placed this evening, and I will not be trading in the morning either.
Have a wonderful weekend ... I'll be back next on Monday evening.
Cheers,
Nick
Hi Nick,
ReplyDeletenice blog you have here :)
So you generaly do not place orders on thursdays?
Is it because of the pricemovement of friday?
And I guess you do not place trades on sunday because of fridays bank holiday?
Have a nice weekend Nick
Klaus
Hi Klaus,
ReplyDeleteThanks for reading and commenting :)
Generally I will avoid Thursday evening trades because Income Generators greatest risk is on day 2 and in the case of Thursdays, Day2 is followed immediately by the weekend (increasing the risk in the trade).
Since the aim is risk management, and minimizing un-necessary risk, it is best to stay out of the market. Add into this weekend that it was another 4 day weekend, and the risk was even greater that the Stop Loss could be triggered over the weekend.
I trade most Sunday's, but not last night because today was a holiday in the UK.
Cheers,
Nick