Preferred days in the week for day traders

Volatility

 

ie Thu & Fri are good for stock day traders.

 

Carefully look at daily s&p ranges

 

You don't have an edge. That's why you're broke. And you're not even looking for one. I am, that's why I research....

 

It depends on the strategy/model that you are using.

For me, the best days are Thursday & Friday.
The worst, Tuesday.

 

What way is market behavior different tuesday than thursday ?

 

Volatility (trading range) is statistically higher, at least for the ES.

 

Saturday is best day so you can test what is best day to trade YOUR methods.

 

Looks different for every year, quarter, and month, not sure why you handpicked 2018. Secondly the numbers in your chart are statically irrelevant, suggesting returns of same week days cancel each other out. There is absolutely no edge emphasizing certain days over others.

 

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.