Why does this sound strange?
After all, one of the most popular fad about trading forex is that:
“You could trade anytime, from when the market open’s (10/11pm GMT Sunday) till when it closes on Friday’s (10/11pm GMT) and make a truck load of money“.
Right?
Well…, sorry to burst your bubble sir/ma, it is true that the market is open all through the week days, but from my observation in the few years I have traded, the most profitable or magical days of the week are just three.
For the sake of enlightenment on what works for me during the week, I will explain how each day contributes to bottom line of my trading account.
So, let’s go right ahead.
1. SUNDAY
Personally, I use this special day of the week to analyse the market.
Once I am done with my home choirs, I could take a nap, afterwards, I settle down perusing through the market with a cup of coffee (my favorite beverage).
Normally I go through the daily and weekly charts to see how price closed on Friday the previous week. I would then draw my trend lines over/under key support/resistance levels. After which I start jotting what I perceive the market’s reaction would be when price breaks out of a support/resistance or when there is a reversal during the week.
Mind you the market opens by 10/11 pm GMT on Sunday, and when it does so:
- There maybe gaps in the market which comprises of an empty space between two candlesticks (This normally occurs when there is price movement over the weekend but the market is closed, hence price movement is not taken into account until market opens) or
- The market could just burst into a sharp bullish or bearish move like a headless chicken, which really, is non of my business.
What matters to me on Sunday’s is ANALYZING the market and writing down my game plan for the week and that’s the reason why I call these day’s “Analytical Sunday’s“
2. MONDAY
Monday is usually the slowest trading day of the week. Price, more often than not crawls, and in most cases misleading as there seem to be false signals allover the market.
I believe the reason for this is because the big players (The banks) probably have their meetings, hence, market liquidity is either low or erratic, as if it was suffering from some sort of hangover.
If you end up trading on this day, there is every likelihood that your stop loss will get hit when volatility picks up, and believe me, it has nothing to do with how perfect your setup or market entry is.
Personally I can say that over 50% of my trades taken on Monday’s either end up hitting my stop loss or I end up cutting off my trades on break-even.
If you follow my daily analysis, there is a reason why I call Monday’s analysis “Risky Monday’s“. Trading on Monday’s, is like sailing without a compass.
3. TUESDAY
Tuesday is bliss for most traders.
I mean…, if trading is really your thing, you will understand why all the fuss about the market starts on Tuesday’s.
I believe one of the reasons for the increased momentum in the market on Tuesday’s is because there is every likelihood that the big boys (banks) may have finally decided on what to do in the market arena. This sudden volatility encourages the big and small traders around the world to take positions in the market as price direction becomes more predictable.
The big test in forex trading is actually holding back your trigger happy finger till Tuesday’s before trading. If you could execute such patience in your trading plan, you are one step away from becoming a consistently profitable trader
In my opinion, another reason for increased volatility on Tuesday’s is because there seem to be this psychological concept of actually believing that Tuesday’s are the busiest or most productive days of the week. So it plays out on the charts.
In our daily market analysis, I caption Tuesday’s as “Let’s go Tuesday’s” because after a long break from trading, Tuesday’s do not only present huge market volatility, but in most cases presents good trading opportunities.
3. WEDNESDAY
After market’s volatility picks up on Tuesday’s, and traders start doing their thing, I notice that on 
Wednesday’s, price is pushed to key levels and you start noticing fantastic setups.
Wednesdays in most cases presents traders with myriads of setups and opportunities. On the higher time frames (4 hours and daily) you may notice major breakouts/reversals or consolidation of prices around key levels.
We call Wednesday’s “opportunistic trading days” in our daily market analysis, and the reason is:
You really don’t have to be a professional trader to notice key setups. A beginner trader that’s smart can spot juicy setups from miles away. Wednesday is a free for all day. This could also have it’s own downside when trading too.
It is very easy to throw away your good trading habits when presented with myriads of trading opportunities on such days. In most cases, trader’s who want to level up after a streak of losses will tend to over leverage and also take too many trades.
4. THURSDAY
This is another highly volatile day in the market. In most cases Thursday is a follow up to
Wednesday’s breakouts, consolidations or pull-backs.
On most Thursday’s if you happen to be on the wrong side of the market and you exit to join the current trend, you will still come out profitably, and in worst cases a break even.
On the other hand, if you have been profitable during the week, Thursday is more like an icing on the cake of your hard work.
For this reason we tag this day on our daily market analysis as “Consolidating Thursdays“. I tend to believe that on this day, banks trade in high volumes and most traders go full throttle on their lot size when trading.
5. Friday
In our daily analysis, we nicknamed Friday’s as “Tricky Friday“. The reason is because on 
Friday’s the market is HIGHLY UNPREDICTABLE.
The volatility in the market on Tuesday’s, brings about consolidations/breakouts on Wednesday’s and this event is quickly followed up by strong trend movement on Thursday’s.
Finally these trends give rise to a Friday that is more or less unstable.
The early hours of Friday’s (12am – 8/11am) tend to be somewhat stable when it comes to taking a trade that is trending. This gives most traders a false sense of hope that the easy ride may continue till the close of the market.
From my observations over time, somewhere between (10am – 2pm) the market becomes inconsistent, and analysis that seem to look good falls flat.
Reasons for this?
I am still doing my research on it (lol)
For this singular reason, I stay out of the market most Friday’s, and if I have any pending trade, I get off before noon.
In Conclusion.
In my opinion, the most profitable trading days of the week is:
- Tuesday’s,
- Wednesday’s and
- Thursday’s
all other day’s are just imitators (In Slim Shady’s voice…lol).
Trading the market every single day is not productive on the long run. To become a master of the game:
You need to have an edge or a sweet spot in order to become a consistent winner in the game of trading.
Fillipo Saga
So, tell me, what are your thoughts about trading the market on some specific days of the week?
Let us know if this idea shared was insightful, we would also love to know what works for you as a trader, and lastly, do help us share.
