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I have read on many sides that �Mondays should not be operated� because the market is slow, directionless or simply �not worth it.� But I also see that movements are usually quite technical and usable if you analyze it well. Is anyone else operating Mondays successfully or is it a waste of time? Is it myth or reality?
I personally only watch Mondays, set levels and prepare for what is coming. I have lost more than I have earned on Mondays out of anxiety, so I decided to leave them out of my plan. But I don�t think it�s an absolute rule, everyone should prove it for themselves.
It's a myth. Last Monday I made myself +140 pips in EURJPY following a setback to 61.8%. Slow? Not at all. It's a question of knowing what you're looking for. If you come in waiting for a crazy NFP type, you're obviously going to get frustrated.
Look, if they don�t know how to operate in range, any day will be �bad� for you. The problem isn�t Monday, it�s you who don�t have a system that fits all conditions.
I've had brutal Mondays, but also Mondays that were a total trap. What I do now is reduce the size of my operations that day, so if I'm wrong I don't ruin the week.
Let's see if we understand each other... it's not that Monday is bad, it's that many brokers have wider spreads at the beginning of the week and the institutional volume starts later. That's why it costs more to validate a solid entry.
The only Monday that interests me is the first Monday of the month: PMI, market sentiment and start the institutional cycle. The rest, pure noise for me. I prefer to put it strong on Tuesday with everything more defined.
It depends a lot on the pair you operate. GBP/JPY on a Monday can give you 100 pips as if nothing, while USD/CHF crawls like a turtle. If you don't adapt your strategy to the expected volatility, any day will be "bad".
What a laugh those who say you shouldn't operate one day just because someone said it in a forum in 2008. Operating or not operating depends on the analysis, not the calendar. Yes, if you don't have discipline, better or open the chart.
I use Mondays to detect weekly opening imbalances. If there is a GAP or exaggerated reaction, I go into correction. The rest of the week I use it to follow the trend. Not everything is black or white, people.