How do you all feel about trading on Mondays & Fridays?
Mondays, the market is just rousing and seems very capricious to me.
Fridays, the close of play looms ever larger like the sword of Damocles. I hate the thought of getting stuck in a trade that I don’t really want to hold over the weekend.
I don’t have any hard and fast rules on which days I trade but, I must admit, I don’t particularly enjoy trading on Mondays and Fridays. I will only take trades on either of those days if the set-up that I am looking for is absolutely spot on and I can identify certain solid confluences.
Mondays are sometimes marked by gap-up or gap-down scenarios, and the market is often trying to mean-revert itself. Otherwise, Mondays are typically marked by lower volatility.
Fridays are usually marked by lower volatility during the Asian and European sessions, as professional traders book profits to end their trading week. When the US market opens, there is often a period of explosive movement due to gambler-style traders doubling down on their positions for quick in-and-out trades. However, this is all speculative, and I am just guessing.
So, if you’re wary of trading on Fridays would you look to close any trades opened on a Thursday on the Friday it they go into profit, or would you let them ride?
Feel more or less the same. If I trade on Mondays then only at the evening, when most of noise and weekend news are digested. For Friday’s I usually close all trades at the afternoon when ny session’s about to open
I feel the same way! Professional and wealthy traders usually withdraw their funds from their trades on Fridays, resulting in low volatility in the market. Therefore, I believe you are correct in your assumption.
I like the sound of that idea as I noticed some of my open trades always seem to start to go against me after the NY session opens.
I’m really finding this forum a great source of knowledge listening to the views and ideas from all the traders, this is stuff online courses and books can’t teach you.
Hey mate now that you are talking about… I had the idea a few weeks ago to trade against all signs because also me experienced a wrong direction when ny session starts. I analyzed it a few weeks and now I came to following conclusion (assuming you live in europe): asian session = consolidation/range, london session= trend/breakouts and ny session: retrace/reverseal.
So today/yesterday i just did that, just entered during ny session intentionally at the wrong side and look what happend:
I try to stay away from the markets until the NY session opens Monday morning. If I have trades open I’ll leave them but I don’t typically open new ones until well into the morning.
Fridays are interesting, some of my best trades have been during selloff’s on Friday afternoons. But I don’t open anything new the last half of the
trading day.
I personally try to avoid trading on Fridays. But sometimes the setups just tick all boxes and find myself in a trade. As write this, I ignored my tradition and took a long trade on Gold following an 'all boxes ticked" setup. That was the most expensive ignorance ever.
Often end of week is like a little blow off, especially if Friday had a push.
Today Stocks went south and now in the final hours has tailored off.
US 10yr has been flat this past 5hrs after a quick push down reflecting a souring of risk on stocks - S&P now retreating to the upside as the week’s trading comes to a close.
Monday trading is often about weekend geo political news - right now nothing likely in the pipeline.
So what about Monday next?
One of the old timers used to say - Monday (again in the absence of news) is a as good a day to buy the S&P as you will get.
By chance here is SPX chart - nothing to do with Mondays - different forum - the bottom line begins on … Monday March 13
