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| Discuss The Myth of Friday is Down Day at the Trading Psychology within the Traderji.com - Discussion forum for Stocks Commodities & Forex; The media creates and analysts perpetuate a myth that traders do not like to carry ... |
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#1
30th January 2010, 06:25 PM
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The Myth of Friday is Down Day
The media creates and analysts perpetuate a myth that traders do not like to carry their positions over the weekend and the market generally shuts down lower on Friday compared to Thursdays. And many of us being Media followers swallow that as the truth. On any Friday when the mkt closes down the media reports "Market down as traders unwind positions before weekend" and the myth gets perpetuated. Here is a look at the year gone by 2009 Total trading days 242 excluding the Muhurat trading day on Saturday. Code:
Day Number Up Down Mon 45 21 24 Tue 48 26 22 Wed 51 29 22 Thu 51 28 23 Fri 47 31 16 Total 242 135 107 Now that does not mean that you go around buying on Thursdays with the hope of a a positive close on Friday!!. Just a sample of how some myths get perpetuated without any statistical study. Last edited by trader.trends; 30th January 2010 at 07:06 PM. 
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| The Following 8 Users Say Thank You to trader.trends For This Useful Post: | ||
adultvish (30th January 2010), AW10 (1st February 2010), bloodmoney (31st January 2010), bunny (30th January 2010), columbus (30th January 2010), deneb (30th January 2010), imgkg (31st January 2010), munnabhai208 (30th January 2010) | ||
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#2
30th January 2010, 06:41 PM
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Re: The Myth of Friday is Down Day
Some analysts are tools of the operators.
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| The Following User Says Thank You to bunny For This Useful Post: | ||
trader.trends (30th January 2010) | ||
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#3
30th January 2010, 06:59 PM
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Re: The Myth of Friday is Down Day
Quote:
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| The Following User Says Thank You to bunny For This Useful Post: | ||
trader.trends (30th January 2010) | ||
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#4
30th January 2010, 07:09 PM
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Re: The Myth of Friday is Down Day
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#5
30th January 2010, 07:15 PM
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Re: The Myth of Friday is Down Day
Quote:
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| The Following User Says Thank You to bunny For This Useful Post: | ||
trader.trends (30th January 2010) | ||
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#6
30th January 2010, 07:25 PM
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Re: The Myth of Friday is Down Day
great share bhai
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| The Following User Says Thank You to adultvish For This Useful Post: | ||
trader.trends (30th January 2010) | ||
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