Hello fellow traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 3rd of February.
How do you find winning trades on Friday?
Use "The 52-week new highs on Friday rule"! Here are the three rules you need to trade:
Rule # 1: When a market closes at or close to a new 52-week high on a Friday, buy and go home long for the weekend.
Rule # 2: Exit the long position on the opening the following Tuesday.
Rule # 3: If the market opens sharply lower on Monday, exit the position immediately.
"The 52-week new highs on Friday rule" works extremely well in futures and in the Forex markets. This rule can be reversed for "The 52-week new lows on Friday rule" if you are so inclined to trade the short side of the market. MarketClub members can easily find new 52 week highs using our SmartScan tool. Continue reading "It's Friday...Do you know how to find winning trades today?"