Ever wondered if you could make better Forex trades simply by picking the right day of the week? Well, we’ve got you covered. Here are the best days to trade Forex.
The Best Days of the Week to Trade Forex
One of the best ways you can improve your Forex trades is by selecting the right times to trade. As it turns out, there are better days of the week to trade than others.
Tuesday, Wednesday, and Thursday are the three best days of the week to trade. Friday is like a half day and the trading is at its best early in the session. The later in the day it gets, the more trading starts to trail away.
Check out the below table of pip ranges for each trading day, aggregated by BabyPips.
These midweek sessions offer the most action when it comes to trading Forex. These are the times of the week that traders are moving Forex, and this means that you can get in on the action.
Why are These Days the Best?
Tuesday, Wednesday, and Thursday are the best rates to trade Forex because they are the days that see the most action.
You want to make your Forex trades at the busiest times. This is going to mean the best return on your investment as well as the most profitable trades. People are looking to move Forex on these days of the week, and you can leverage this energy to your advantage.
The Best Times of Day to Trade Forex
Even if you’re trading on Tuesday, Wednesday, and Thursday, you want to make sure you’re trading at the right time of day. The London session has the single highest volume of trades out of the other sessions. Tokyo and Sydney are other great options, but they do have less action than the London session.
Try to time your training with when the London session is happening. Depending on where in the world you live, this could be early in the morning or late at night.
Days You Should Take Off
You should avoid trading Forex on the weekends at all costs. Across the world, people are taking the weekends off and this means trading volume is at its lowest on Saturday and Sunday. That low volume typically means tough deals and bad Forex trading.
Friday is a little more mixed. The early morning sessions can be exciting and action-packed, but that energy is going to quickly fade away as people jump into an early weekend.
Events That Change Our Forex Trading Schedule
Not all days of the week are equal when it comes to Forex trading.
You should also avoid trading on major holidays as well as days when global news events are breaking. Expert Forex traders might be able to Leverage the rapidly evolving world of geopolitics, but that’s a skill that you developed through years of training. You don’t want to get burned in the short-term gambling the wrong way against the trending news.
Wrapping Up the Best Days to Trade Forex
Trade your Forex on Tuesdays, Wednesdays, and Thursdays, and you’ll be all set!
Disclaimer: All information provided here is intended solely for study purposes related to trading financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity, analysis, or similar general recommendation regarding the trading of investment instruments. The content, in its entirety or parts, is the sole opinion of SurgeTrader and is intended for educational purposes only. The historical results and/or track record does not imply that the same progress is replicable and does not guarantee profits or future profitable trading records or any promises whatsoever. Trading in financial markets is a high-risk activity and it is advised not to risk more than one can afford to lose.