Forex is known as a 24/5 market — the trading is performed during the whole day, five days a week. For those of us who live in the time zones that are close to GMT (UTC), these five days are the traditional workdays — from Monday through Friday. For those who live far to the west of GMT with their timezone shifted negatively relatively it, e.g. EST (GMT-5), Forex trading week starts on late Sunday. For those who live in a timezone far to the east of GMT, e.g. CST (GMT+8), the trading session ends on early Saturday.
Some traders pay a lot of attention to the weekdays they trade, others don’t mind trading on any of the available days. Many strategies and expert advisors are said to be profitable only during certain days. Common sense tells me that the market conditions can’t be very good during early Monday (or late Sunday) and late Friday (early Saturday) — the liquidity is very low and the currency rates can be manipulated by the big players. On the other hand, Tuesdays, Wednesdays and Thursdays should provide a lot of liquidity and the FX market should be very “technical” during these days. Wednesdays are influenced by the triple overnight interest rate (rollover or swap) that is applied on them. Fridays can be extremely volatile due to the
Personally for me, as a
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