Ending the week profitably really comes down to how you handle Thursday and Friday. That is where it is won or lost.
If your week is already going well, the job is to stay cautious. In practice that means not over trading and not forcing setups that are not there.
Key takeaways
Only take trades that fit your plan, and never force a trade just to end the week green.
Keep executing the same setups you always execute, without dropping your standards on Friday.
Maintain the same risk you used all week, and if anything, reduce it when you are already in profit.
Do not raise your risk towards the end of the week for any reason, whether you are chasing profit or chasing a loss.
Ending the week in a small loss is not a problem, the real danger is turning it into a big loss.
Thursday and Friday often bring major news that moves markets in unexpected ways, so stay aware and reduce risk around it.
Stick to your plan and do not force trades
You take every trade that fits your plan without thinking, because you already did the thinking when you back tested and analysed the strategy.
However, be extra careful not to over trade by forcing a trade. That is when you do not actually see your setup but you take it anyway because you want to end the week in profit.
That is always a bad idea and it usually does not work out. Stick to your plan and do not lower the quality of your setups.
“It is better to end the week in a small loss than to force trades and end in a big one.”
Maintain your risk, do not raise it
Just as you maintain your strategy, maintain your risk levels too. If you are risking 1 percent through the week, keep doing that at the end of the week.
If you are already in profit, it might even be smarter to reduce that risk.
The most important thing to not do is increase your risk towards the end of the week, for any reason at all.
When you are already in a loss
The other scenario is you are down from Monday to Wednesday and trying to claw it back on Thursday and Friday.
Increasing your risk and taking trades outside your plan is a bad idea here too, because most likely you end up in a bigger loss.
It is better to end the week in a small loss. The big problem is a big loss, and that comes from over trading and raising your risk.
Watch out for the news
Towards the end of the week there are usually a lot of major news events, and these move markets in unexpected ways.
If you are not already in the habit of tracking when news hits, at least do it on Thursday and Friday so you do not end the week in a big loss.
So keep an eye on the calendar on those days. Overall, stick to your original risk plan and your strategy and do not change anything towards the end of the week.
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