Is it necessary to choose the right day to trade?
Oct 11, 2022 at 10:28
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10 Replies
Oct 11, 2022 at 10:28
Although I know that the Forex market is open 24 hours a day, 7 days a week, and also understand that choosing the time to trade can make a difference between successful and hopeless trading, I am wondering if it is true that every Monday is not a good day to trade because the market recently awakens and is making first probation steps to form a new or confirm a current trend, and on Fridays afternoon, during the huge volume of closing trades.
As per another statement, the best days to trade are Tuesdays to Thursdays.
As per another statement, the best days to trade are Tuesdays to Thursdays.
“Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in a one-night stand a romantic.” – Warren Buffett
Membro Desde Apr 09, 2019
538 posts
Oct 17, 2022 at 09:25
Depends on many factors. The day makes less difference to me than whether my rules for a trade are triggered or not. If that happens on a Monday then I take a trade, if not, I don't. Keep it simple.
If you can't spot the liquidity then you are the liquidity.
Oct 17, 2022 at 09:45
Akasuki posted:
If you pass more and more time with the market, you can possibly build up a strong and positive mindset.
Awesome post! Thank you for reminding us about the mindset towards trading.
“Calling someone who trades actively in the market an investor is like calling someone who repeatedly engages in a one-night stand a romantic.” – Warren Buffett
Oct 17, 2022 at 10:43
I have personally found that my results are better from the back end of the week, Thurs and Fri. But I only found that out through reviewing past trades. I think each person / strategy will perform better at different times, just need to work out what works for you
Oct 19, 2022 at 06:51
Depending upon the strategy and the trend you want to take benefit of Mondays can be good or bad! You need to choose how you want to make it work for you. Every day is unique in the market. With experience you will be able to get an understanding what is working in your interests as per your strategies and decisions. All the best!
Fulfilling my goals happily
forex_trader_3036016
Membro Desde Sep 29, 2022
15 posts
Oct 19, 2022 at 11:56
davesper posted:I agree. A trader should know how to find an opportunity and make it potable, no matter where the market stands.
To be honest, I don't think this is the right approach. I'm more of a supporter of the idea that if a trader has enough experience, you can start any day.
forex_trader_3036016
Membro Desde Sep 29, 2022
15 posts
Oct 20, 2022 at 08:14
davesper posted:I agree. A trader should know how to find an opportunity and make it potable, no matter where the market stands.
To be honest, I don't think this is the right approach. I'm more of a supporter of the idea that if a trader has enough experience, you can start any day.
Membro Desde Sep 13, 2022
16 posts
Oct 31, 2022 at 10:17
Personally, I feel Tuesdays to Thursdays are the best days to trade. Trading is not possible on weekends because of low liquidity.
Membro Desde Apr 09, 2019
538 posts
Nov 02, 2022 at 12:55
Depends on how you trade but I think the markets generally form recognisable patterns over the course of a day and also over the week, month, quarter and year.
If you can't spot the liquidity then you are the liquidity.
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