When you trade binary options, a full understanding on specific days is essential. Yes, you might think that all the days are the same, but there are days that are not so good and not so bad. Anyone who has a life knows that this is true. In binary options, what is considered as a great trading day is when you get that signal. It does not matter what your trading style is because there is not a day that is precise for trading unless you have a great strategy that can generate signals every single day. However, these may be plausible assumptions, but there is that day when traders can best enter the market.
You might have learned over time that one day is as different as another and one trader is also as different as the other. Now, when we talks about commodities market, forex, bonds, and equity stocks, Mondays can be the best day to trade because this is the entry and exit day of retail traders as a whole. These traders go home during Fridays and do their routines including monitoring trading accounts and deciding which stocks they have to sell because of misses in earnings. Thereby, Monday can be considered a volatile trading day, and it can be a day that can be against long term trends. Moreover, Monday is a good day for binary options trading just when the market opens its doors.
OTHER DAYS FOR TRADING
Tuesday – Just like Monday this can also be an equally volatile day for trading. This is the day when last minute orders are files. This means that many carryovers are done on Tuesday. Additionally, when there was a severe trading on Monday, then there can be a snap on this day. Most of the time, Tuesday is a great day for binary trading unless there are some unfortunate economic events. Such events can be reasons for you not to trade and move away from the market.
Wednesday – This is typically “the calm day.” There is already a mellowing down of market shaking from Monday and/or Tuesday. At this point, trading is at calm pace. This is a good day for binary traders to go into long term positions. Just like other days, Wednesday is also affected by events and news. However, what is unique about it is that most big announcements that can ignite huge asset price movements such as housing data and ADP growth are done on this day.
Thursday – This can be your favorite trading day. If you are an eager trader or you are trying to confine movements ignited by economic dealings, then you have a huge chance to enter the market. This is actually the day when big-time money managers as well as investors buy and sell. If you want to enter trades which follow on long term trends with short term expiries, then this is the day for you.
Friday – yes, Friday is also another great day to trade as this day is the perfect indicator for long or short term trends. This is obviously the end of the trading week which means that if you need some catching up to do with your trades then now is the time. Fund managers, professional traders, and some investors don’t actually trade a lot on Fridays because they have already observed another trader’s activities and have already heard the news. Therefore, when you decide to trade on Friday, make sure you know what has happened from Monday to Thursday because they can greatly affect your risky Friday trades. Economic events that move the market are often the vehicles of trades on Fridays.
It seems like all days are ideal days for trading. SO when exactly is the best day to trade? As mentioned before, the best day to trade is when there is a great signal. This means that you will not have a good trading day if you do not have a good binary options trading strategy with you. You also need to learn how to keep up with charts and always be patient. When you wait for the right signal then you can trade with success.