There are some characteristics to the different days of the week when it comes to trading – that you see being repeated over and over. From my personal experience I can tell you a few things that might help you avoid the days that are turbulent and unpredictable at times. I have mostly traded forex therefore I can give you my perspective of how I think forex markets behave on different days of the week.

Important Note: You will see a lot of people debating the idea of which day is better to trade without putting in to perspective the different styles of trading. If you do long term trades then usually days don’t matter as much – a big drop or fall can happen anytime and you are usually after a bigger drop or rise than a small fluctuation of 10-20 pips.

If you’re a day trader then you are more likely to get affected big time by the day you choose to trade, and regardless of the day -there are no guarantees for turning a profit and you must adhere to trading rules and discipline at all times.

Read on if you’re a day trader.

Mondays

It’s widely known that on Mondays the market usually drops, so if you’re looking to buy stocks then you’re better off doing it on a Monday. Not sure if its really true but I have my own theory; the feeling of going back to work on a Monday is downbeat and gloomy and it usually takes a while for traders to get back in the trading mood. It can be clearly witnessed in the early hours of the day, when markets initially dip down and eventually bounce back. These are the times when smart day traders are ready to make a gain on the dip and rise of the market.

Other Weekdays from Tuesday to Thursday

For day traders, usually at this point the market settles down and start forming various cycles that are not so turbulent. This is when day traders get most active during the week. The trends become less turbulent and more predictable for the experienced traders. This helps you do your technical analysis and focus on price action. unless there is any important event occurring that could cause chaos in the market. That’s when some day traders stay out of trades as it becomes risky, however its down to the technical analysis you can make and correlate the events – there are some good returns to be made around big events.

Fridays

On Fridays the market becomes very turbulent and also sluggish again, specially in the last hours before the US close. The liquidity dies down and you don’t see very strong trends happening on Fridays. New traders are usually advised to stay out of these hours as trends are abrupt and hard to predict. Even the most expert scalpers advise you not to trade on a Friday.

Best Months For Longer Trades

Depending on the stocks you trade and the effect of seasonality on those companies, longer trades that span a few months can be highly profitable before or after Christmas or September can be the slowest month for trading.

Having said that – trading is about predicting the market, and one can’t always be right. You are bound to win and lose trades, but the days you pick for trading have a huge impact on your overall performance.