Preferred days in the week for day traders

[M.W.]

Sure, in hindsight.

Sure about that? I've seen research suggesting otherwise. Also in my own research, although I can't say it's an hard edge on its own without other metrics/factors considered.

There's a weekly cycle in the market, though.

Usually, but not always of course, you get the week low/high early and late in the week.

For example, for a week going from high to low by end of week, you get the week low on Thursday or Friday 81 % of the time. That's statistically significant in my book. So far, this is that type of week. Barring a complete reversal from here I'll be expecting the week low this week on Thursday or Friday.

Let's see how the week develops.

PS: For a week going from low to high by end of week, you get the week high on Thursday or Friday 84 % of the time. Dataset dates back to 2005. This is for ES / SPX.

 

[Laissez Faire]

Sure, in hindsight.

What’s in hindsight?

 

[M.W.]

Are you on drugs?

What drugs?

Reading comprehension issues? Second time in the same thread.

What’s in hindsight?

 

[Laissez Faire]

Are you on drugs?

What drugs?

Reading comprehension issues? Second time in the same thread.

I asked you specifically what's in hindsight.

Reading comprehension issues on your end then?

 

[rb7]

There is absolutely no edge emphasizing certain days over others.

I've never seen a 7 foot Chinese guy, so it doesn't exist.

I've never found any edge doing this or that, so it doesn't exist.

It's not because you haven't found something, that it doesn't exist.

Some make money using TA, some others say it's useless.
Some make money using Elliot waves, some others say it's useless.
Some make money with PA, some others say it's useless.
Some make money with ML, some others say it's useless.

Bottom line, you should have wrote: 'I have never found an edge emphasizing certain days over others'.

 

[M.W.]

You only know toward the end of the week when it's all almost over whether what you have seen earlier that same week was a low or high that reversed.

I asked you specifically what's in hindsight.

Reading comprehension issues on your end then?

 

[M.W.]

Have you found an edge? I want to believe that certain niches are pretty easy to comb through in the search for an edge. This applies to verifying whether certain days of the week provide statistical advantages over others to trade certain direction. The number of possible realizations of events is finite and easily testable. I have done that work. Pretty exhaustively. Have you?

But strictly speaking you are of course right. I might have overlooked something. I still firmly believe its a waste of time to dabble more than a few hours in testing and throwing such idea out the window...to each his or her own.

I've never seen a 7 foot Chinese guy, so it doesn't exist.

I've never found any edge doing this or that, so it doesn't exist.

It's not because you haven't found something, that it doesn't exist.

Some make money using TA, some others say it's useless.
Some make money using Elliot waves, some others say it's useless.
Some make money with PA, some others say it's useless.
Some make money with ML, some others say it's useless.

Bottom line, you should have wrote: 'I have never found an edge emphasizing certain days over others'.

 

[Laissez Faire]

Your entire post rational. See, you only know toward the end of the week when it's all almost over whether what you have seen earlier that same week was a low or high that reversed.

You know that, don't you?

You come across as a know it all who don't know how much you don't know.

Just because you didn't figure it out doesn't mean it's not there. The market's not random.

 

[rb7]

Have you found an edge? I want to believe that certain niches are pretty easy to comb through in the search for an edge. This applies to verifying whether certain days of the week provide statistical advantages over others to trade certain direction. The number of possible realizations of events is finite and easily testable. I have done that work. Pretty exhaustively. Have you?

But strictly speaking you are of course right. I might have overlooked something. I still firmly believe its a waste of time to dabble more than a few hours in testing and throwing such idea out the window...to each his or her own.

Yes, I've analyzed this stuff (days of week) extensively.
And for the strategy/model I am using, Tuesdays are clearly not profitable (on average).

I can understand that for others strategy/model, there are no differences.

 

[Laissez Faire]

Yes, I've analyzed this stuff (days of week) extensively.
And for the strategy/model I am using, Tuesdays are clearly not profitable (on average).

I can understand that for others strategy/model, there are no differences.

Interesting.

Does that mean you don't trade it on Tuesdays at all?