BEST AND WORST Days of the week to Day Trade
When you day trade…
It is very important to find ways to increase your win rate and know where and when to cut out unecessary trades.
When you find out these stats, it will help benefit you get a better understanding of how to best optimise your strategy and maximise your profits.
One stat that I think is very interesting is to find the BEST and WORST days to trade.
That’s what I want to cover in this important article…
The WORST day to DAY trade
Right, so we can see in the stats table, I have broken down the days of the week Monday- Friday.
We can extrapolate a number of things from the metrics.
First, it is clear that between Monday and Friday – MONDAY was considered the worst day of the week to trade.
It only yielded a 3.4% return including costs. So even though 31 trades were taken – 17 were winners and 14 were losers (55% win rate).
So what does that tell you about trading on Mondays?
It means that Mondays we can potentially take off.
They yield Medium Probability Days which might not be worth it to even trade on that day.
Why? We can make assumptions why Mondays are the risky days to trade including:
-
Weekend News Sum up
Any news that comes out over the weekend can cause sudden market movements on Monday.
The markets are still adjusting from what occured over the wekened which can cause volatility.
-
Market gaps
The accumulation of orders over the weekend can lead to opening gaps on Monday.
Now you know with the MATI Trader System I do not like trading when there are gaps in the process generally. And any significant gaps can cause market volaility which is not great for the system
-
Psychological Factors
Mondays represent the start of the trading week. And this can be psychologically challenging for traders. So there can be a fight between the bulls and the bears which could cause jumpiness in the markets.
And so, we do not NEED to trade on Mondays or we will only take the highest of the highest probability setups. GREAT.
Moving on…
The BEST day to DAY trade
If we look at the stats table again.
We can also see that the BEST day to trade is a Tuesday.
It yielded an incredible 15.14% return including costs.
With 29 trades taken – 21 were winners and 8 were losers (72% win rate).
So what does that tell you about trading on Tuesdays?
It means that Tuesdays will MOST likely be a winning day. And it’s important to find and take the trades accordingly.
They yield HIGH Probability Days which is definitely worth looking to take.
Why?
-
Increased liquidity
The news has been adjusted from Monday and the weekend, and traders know more or less what whether they want to buy (go long) or sell (go short).
The markets are still adjusting from what occured over the wekened which can cause volatility.
-
Stable markets
There is more stability in the market which will lead to better trends and market environments.
Needless to say, I think the system shows and proves to work best on Tuesdays.
Let’s bring back that table again.
OTHER Days of the week
The rest of the week shows average stats for the system.
And it’s important to trade all each of those days to build the portfolio over a consistent period.
Wednesday yielded 6.64% with a 63% win rate (17 winners out of 27 trades)
Thursday yielded 7.29%% with a 62% win rate (18 winners out of 29 trades)
Friday yielded 6.65% with a 61% win rate (19 winners out of 31 trades)
Also interesting to note that there was a time where there were 10 WINNING fridays in a row.
But at a time there were also 6 losing Fridays in a row.
FINAL WORDS:
I trust this gave you more perspective and transparency with the BEST and WORST and general days to trade.
We can officially call MONDAYS’ Medium probabiilty days which aren’t even necessary to trade.
TUESDAYS’ are the HIGHEST probability days to trade.
And the rest of the days are paramount to grow a consistent and profitable portfolio.
Let me know if you enjoyed the article and if it helps with your trading too by emailing me at timon@timonandmati.com
Trade well, live free.
Timon Rossolimos
Founder, MATI Trader
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Timon Rossolimos
Founder, MATI Trader
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