When do you start trading for the week?

When do you guys start trading for the week? I know that trading style also will have an effect on when.

I am trading mainly the daily chart and have begun doing my analysis for the week on sunday evening. Sometimes I see price action that gives a signal but wonder if the price action from Friday is a good entry signal for the next week?

I am wondering if I am trading the daily should I just wait until close on monday to take any trades?

My starting day is Tuesday, as the market is more clear on this day and have clear idea that what kind of entry and exit should I have for the trade.

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I trade mountain time in the U.S. The Sydney market opens at 1500 my time (beginning of the Asia session) and then Tokyo starts their session 1 hour later. If you look closely at the spreads, they are ridiculously high for the first two hours. That is why it is best, if you are going to trade during the Asia session, to wait until at least 1700 Mountain Time (1900 EST) to enter a trade.

Conversely, if you are going to pull the trigger during the NY session, it is best to do so at least a half hour before the close of that session. Right around 16:30 EST is when the spreads get very high (usually).

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same here! i analyse the market on Monday and jump in on Tuesday.

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I don’t have a particular day, although I try to start watching my charts every Monday. :smiley: If I don’t see any good positions, I try not to force it. :sweat_smile: My weakness is that I sometimes get a bit too excited and just dive right in just to have a running trade for the week. :sweat_smile: And you know how those go… :frowning: Huhu.

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its a nice plan for trading, actually which day is appropriate for starting it depends on market movements not depends at all on any days.

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It all depends on your style for trading. As a trend trader, the day of the week is of little importance.
I trade a system that that looks for trend reversals. I am not influenced by the daily price fluctuations
to make trade decisions. My trades may lasts weeks (and sometimes months before concluding.)

I start a trade when my entry point arrives. i do my analysis on Sat & Sun (also trade indices & CFD shares). From your analysis you most likely have a desired entry and exit… then enter when it happens - “whenever” it happens…
although I do not feel comfortable holding a forex position over a weekend & for CFDs am reluctant to enter a trade on a Friday, - margin interest…

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Back test your system/algorithm and if your results are not negatively influenced then that is good to go.

Just avoid those days like FOMC or other major events. No one can predict what Donald tweets, so no need to over concerned.

What I mean is that trading intuitive or with no system no plan will not deliver more positive results.

Is rsi strategy is good

Opening on Monday might be risky because the path is not clear so let it be clear and then move to our strategy.

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I agree with this. I used to be so anxious to get into the market as soon as it opened but really even trading Tue-Fri or just Tue-Thur can present plenty of opportunities… Sometimes it’s the trades you don’t take that matter the most.

True, we have to understand and analysis our market first for real trading then only move to real investment.