Big Mike's Trading Blog

Day trading futures, discussing money management and trade management techniques, and more

Friday = terrible volume

Well another Friday, and another day to not trade. The volume has been terrible and we've been stuck trading around this pivotal point all day.

I've just been an observer and haven't traded today.

Do you guys normally trade Friday's? Let me know.



cunparis said...

Today was the first day I didn't run my mechanical stock trading system in several months. The market is too much range bound. I did run my futures systems but they didn't even trigger.

We broke the previous high on lower volume so that should be bearish. I'm thinking Monday we're going to get a crash but that could just be wishful thinking since I'm short the ES. ;)

Anonymous said...

Both Fridays & Mondays are questionable to me but as I am a very short term scalper I still trade both those days. Chop as always is the enemy but that happens most days & as yet have not found indicator/solution that covers all types of chop. Just one of the costs of the business like commissions etc.

Anonymous said...

i trade 5 days a week for 6 ticks only at 20 contracts trade time most days 30 min and done...sam

Eric J said...

Usually done before 12 EST on Friday . Anything past that and I am looking for trouble .

Anonymous said...

This brings up the 'type of trade' discussion. What type of trading is consistently available and profitable?
Please consider and share your thoughts regarding the following:
Price action required for a trading strategy should be available and observable each trading day. Large extended directional price moves are not always available each day, or if they are, may not conform to your entry requirements. A large extended directional move must begin with a small move, and the market will move during the session, so consider focusing on smaller moves that have the probability of occurring multiple times per session. Multiple entry opportunities per session allow for the opportunity to select only the highest probability setups that conform to your definition of preferred price action. Combine that perspective with trade management that is practical and mathematically feasible, then apply progressive position-sizing to achieve your desired level of profitability.
If this makes sense and you claim that you are not a 'scalper', should you be? Do you try to make things conform to you, to what you are comfortable with, or do you conform to what works?
Sam, I like your perspective.
Any other thoughts - just sharing here? It's not about right or wrong, but what's useful that makes us money. Thanks for the good posts thus far from all. Neal

Anonymous said...

yes a good topic,i just find that its easy to scalp fewer tick on the 10 year-thats all i trade- i can watch it for the perfect moment and jump in and back out with few if any problems and if i make a mistake i see it quickly and get out and wait for a new set up and try again.its a easy method that works for me but... ive spent thousands of hrs chart time just on the 10 year note so i know it and can feel what its doing and i dont trade money that i cant throw away...normally my trade day is between 5 and 45 min depending what the market is doing...but i would suggest anyone that want to trade like that to just pick one thing to buy or sell and study it till your sick of studying then have at it lol goood luck it takes increadible discipline and patience...sam

Anonymous said...

Thanks for sharing your trading perspective, Sam. It seems you have a great grasp of price action, coupled with an intuitive feel for your specific market. Do you believe it is possible to comprehend a price action/pattern that is sufficiently robust to be consistent in all liquid markets that one can use to scalp for a few ticks without market specific immersion? Identifying current directional price momentum sufficient to reach a very modest profit target is my current ongoing effort. I am always trying to expand my thinking to identify any idea or tool that might better signal current strength. I accept the uncertainty of price action after entry, but the best I can do is participate in what is happening now with the anticpation it will continue, and the proper risk management if it does not. Neal

Anonymous said...

Now that summer has officially started, Friday, and especially the afternoon, will be low volume. August will be really bad.

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