Quote from qwiktrade:
i think there are 2 reasons that trading in the mornings only works better for some traders, myself included.. first, the morning has better volume and moves tend to have more follow through.. the second reason has to do with the mental state that is created by a series of wins.. when a trader is winning it can create a euphoric state of mind where the possibility of loss is blocked.. so a trader wakes up in the morning.. makes a few winning trades and then has this "cant lose" feeling going into the time of day when there are fewer and generally lower r/r opportunities.. this state of mind tempts him to take trades that he shouldn't take resulting in a loss of profits or more for the day..
-qwik