Don’t Trade Forex On A Monday

Most traders will tell you that the best days to trade forex is Tuesday and Wednesday. That’s when you have the most movement of the 4 major currency pairs, the EUR/USD, GBP/USD, USD/CHF and USD/JPY. Using Forex Killer, I got a ‘No Trade’ for 3 of the 4 currency pairs. Forex Killer gave me a ‘Sell Signal’ for EUR/USD so I though I would give that a try. I shorted the EUR/USD at a price of 1.4628 hoping that the price would fall further.  Unfortunately, I also entered at 11.22 GMT, the low price point of that time frame and the market turned bullish on me and I loss $840.00. On the bright side, I learned how to read candlestick charts. See today’s EUR/USD candlestick chart.

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