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Statistics of days of the week for trading

  • #1
  • First Post: Sep 16, 2014 3:29pm Sep 16, 2014 3:29pm
Hi all,

I have question concerning some characteristics of the days of the week. Are there some characteristics such as Monday often reverses the bar of Friday or if there is a bullish candle on the daily timeframe on Tuesday it will most probably be a bullish trend until Thursday? I just made up these examples so I don't know if they are correct or not. I just want to know what your impression is on such dependencies or if you maybe have some statistics that could prove such correlations.
This could maybe be exploited or at least incorporated in the trading in conjunction with other signals.

Thanks,
Myrmica
  • #2
  • Sep 16, 2014 4:45pm Sep 16, 2014 4:45pm
Quote
This could maybe be exploited or at least incorporated in the trading in conjunction with other signals.

Only in theory. In practise it is probably never worth your time to bother with such statistics. Well, at least until you start hearing lof of people selling USD just because it is Tuesady. Even if there is some tiny edge - it is likely due to some stronger underlying reason and what you see is just a shadow of it.

These reasons could be related to e.g. volume and news which are not evenly distributed.
  • #3
  • Sep 17, 2014 4:55am Sep 17, 2014 4:55am
Quoting Myrmica
Hi all, I have question concerning some characteristics of the days of the week. Are there some characteristics such as Monday often reverses the bar of Friday or if there is a bullish candle on the daily timeframe on Tuesday it will most probably be a bullish trend until Thursday? I just made up these examples so I don't know if they are correct or not. I just want to know what your impression is on such dependencies or if you maybe have some statistics that could prove such correlations. This could maybe be exploited or at least incorporated in...
Toby Crabel teaches a lot of this kind of stuff, PeterCrowns and TheRealThing brought some of it here -- search through their old posts.

In the 70's and early 80's markets behaved a lot like you are describing -- people could, and did, make vast fortunes with very simple systems. Most markets don't behave that way anymore - a couple do to a lesser extent but forex certainly doesn't.

The only real, repeating phenomenon I am aware of in forex is Friday profit-taking. When a currency makes big steady moves through a week, often a lot of big traders will exit and take profits on Friday, causing a reversal or pullback in the trend.
si hoc legere scis nimium eruditionis habes
  • #4
  • Sep 17, 2014 6:27am Sep 17, 2014 6:27am
Quoting ARTjoMS
{quote} Only in theory. In practise it is probably never worth your time to bother with such statistics. Well, at least until you start hearing lof of people selling USD just because it is Tuesady. Even if there is some tiny edge - it is likely due to some stronger underlying reason and what you see is just a shadow of it. These reasons could be related to e.g. volume and news which are not evenly distributed.
Ok, somehow I expected that it would not be that easy and that I am not the first guy who has that idea.
  • #5
  • Sep 17, 2014 6:32am Sep 17, 2014 6:32am
Quoting numbnuts
{quote} Toby Crabel teaches a lot of this kind of stuff, PeterCrowns and TheRealThing brought some of it here -- search through their old posts. In the 70's and early 80's markets behaved a lot like you are describing -- people could, and did, make vast fortunes with very simple systems. Most markets don't behave that way anymore - a couple do to a lesser extent but forex certainly doesn't. The only real, repeating phenomenon I am aware of in forex is Friday profit-taking. When a currency makes big steady moves through a week, often a lot of big...
Yeah, thank you I will search their posts.
The Friday profit taking behaviour could be a strong edge to make some money in case there is a trend. Do you sometimes open a position on Thursday if there is a trend and thus using that market behaviour?
  • #6
  • Last Post: Sep 17, 2014 9:43am Sep 17, 2014 9:43am
It is also observed, sometimes, if Monday session is up, Tuesday is down, on majors. The reverse applies of course.

But, as explained above, it is quite an empirical observation.
One must make its own homework on historical data to prove such a system being profitable.
Meeeooow !!!
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