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.
“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
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
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!
be with it long enough and you magically can understand and predict it's direction. anyway, i trade whenever i got the chance, given that there's multiple reason for entry. if not, i just wait and see.