Infographics: Best Timing And Instruments For Trading Based On Real Client Stats
Shocking news: the universal secret of profitable trading… doesn’t exist. Despite that, there is still hope as long as people can analyze the statistics and see the keys to successful trades in repetitive patterns. This is exactly what we did.
Disclaimer: The following review was made based on the statistics of the FBS clients’ performance by county/instrument over 2019. It is not intended to be universal one-fits-all advice since the data varies from region to region and is based on dry figures instead of analytics. Still, it provides valuable trading insights on the best timing and other factors that can significantly improve your trading performance.
Don’t expect miracles, but don’t ignore the wisdom of numbers either!
What’s the point?
The idea is simple.
We analyzed the trading performance of the FBS community, which is 14 million people across the globe. Particularly, we wanted to find out:
- The best days of the week to open orders by country/by currency pairs
- The most profitable trading instruments last year
- The best time to open orders by country
Why is this information important?
On Forex, you should pay attention to different factors. Knowing political agenda and trading strategies is cool, but it’s also important to consider other “minor” factors. The more elements you take into account, the better your chances are.
So, here we go.
Best days of the week to open orders (by country)
You can be a Forex guru, but sometimes all you really need to do is show up at the right time. The market doesn’t move by itself, it is moved by people and institutions that operate on it — and they do have behavioral patterns and habits.
FBS experts analyzed the behavior of traders from almost 60 countries to see in what days of the week they made the most handsome profits.
Here’s what we came up with.
Latin America is very much into Tuesdays and seemingly hates Thursdays.
Traders from Europe mostly earn from Monday to Wednesday.
Just like Europe, Asia seems to generally hate Thursdays and is most active and profitable on Tuesdays and Fridays.
The Middle East and North Africa seem not to have any specific “lucky days” and earn evenly throughout the entire week. That’s the spirit!
Africa’s profits are the most striking on Mondays and slow down over the rest of the week so that it’s completely silent on Fridays.
Best time to open orders (by country)
Forex hours is a crucial thing to consider. The market never sleeps — New York exchange closes, Tokyo exchange comes into the spotlight, and so it goes in circles, over and over again. Traders from different regions have to adapt their schedules to the general market flow to catch the most vibrant activity time. Here’s what we found out:
Moving on —
Best days of the week to open orders (by currency pairs)
“Hmm, what if it’s not only about the day of the week but also the currency pair?” Let’s see.
Predictably, there’s chemistry between Mondays and lots of currency pairs, including most majors. No wonder — trading is paused on weekends, but it doesn’t mean the economy stops. When the new week starts off, the market is flooded by hungry traders, and this is where the magic happens.
However, the EURUSD orders tend to pay off better if opened on Fridays, which is also quite explainable: the weekend is coming!
Although, as stated in the disclaimer above, these statistics aren’t a 100% guarantee, it’s hard to ignore that striking ‘Monday’ and ‘Friday’ columns.
Now Mondays don’t sound so bad, huh?
And finally —
The most profitable trading instruments
It’s no secret that some instruments have better earning potential than the others (if you know how to use them, of course).
It’s not a constant thing, though. The “leaders” change all the time depending on the current political and economic situation — here’s what it looked like in 2019.
Brazilian Real, NASDAQ, and oil topped the list of the most profitable trading instruments of the past 12 months. However, the stats for the last month show the dominance of such instruments as WTI, AUDCHF and NZDJPY.
If you are a day trader and prefer working with short-term orders, you’d better monitor the short-term stats.
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So, what lessons did these stats teach us?
Firstly, when it comes to trading, the more you know, the better — you never know when certain data might come in handy.
Secondly, using community experience is always a smart thing to consider. Please note: to consider, not to follow them blindly! After all, according to Nassim Taleb, unexpected things bring the best profits.
Do your trading patterns coincide with the stats for your region?