Does anyone currently use or have ever tried trading a different approach/method/algo for each day of the week?
For example, typically EURUSD trades in smaller daily ranges on Monday and Tuesday (especially Monday as long as the previous end of week was not too volatile). Towards the end of the week on Thursday through Friday there is range expansion and more volatility.
I know some traders that will abstain from putting on too many trades early in the week or not expect too much action on Monday/Tuesday, and adjust their strategy accordingly, and trade differently on Monday then they would on Friday, or at least expect different TPs.
Question is, does or has anyone trade(d) mechanically (with an EA or algo) based on different parameters for each day of the week?
I'm not looking for algos to use per se... I just was curious to know if anyone used this kind of approach in their trading.
It would be fairly easy to have an EA distinguish different entry parameters for each day of the week, so I'm curious about any discussion related to this topic.
Of course, I could just go ahead and test and try it myself with an EA, and am pretty sure that I will do that soon. However, I am also curious to know and hear about others' experiences trading this way.
If you have any experience / constructive thoughts regarding this, thank you in advance.
For example, typically EURUSD trades in smaller daily ranges on Monday and Tuesday (especially Monday as long as the previous end of week was not too volatile). Towards the end of the week on Thursday through Friday there is range expansion and more volatility.
I know some traders that will abstain from putting on too many trades early in the week or not expect too much action on Monday/Tuesday, and adjust their strategy accordingly, and trade differently on Monday then they would on Friday, or at least expect different TPs.
Question is, does or has anyone trade(d) mechanically (with an EA or algo) based on different parameters for each day of the week?
I'm not looking for algos to use per se... I just was curious to know if anyone used this kind of approach in their trading.
It would be fairly easy to have an EA distinguish different entry parameters for each day of the week, so I'm curious about any discussion related to this topic.
Of course, I could just go ahead and test and try it myself with an EA, and am pretty sure that I will do that soon. However, I am also curious to know and hear about others' experiences trading this way.
If you have any experience / constructive thoughts regarding this, thank you in advance.