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Is Friday Trading Really Harder?

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I hear reference to this sometimes. Carlos has talked about it in chat.

Is actually harder to trade on Friday?

If so, is it because it tends to be choppy, low volume, something else, or is it harder because of psychological reasons from things going on in the mind of the trader?

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i dont believe there is such a thing, i mean there are so many more influencing factors than the actual day of the week. there is nothing wrong about fridays so no need not to trade on fridays

Edited by peterB

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I believe there is some truth to the Friday Effect.

First, volume begins to drop off sooner as traders start preparing for the weekend. That in turn results in other traders being more passive through a self fulfilling prophecy.

Second, there is the fear of going into the weekend red. That in itself has a psychological effect. Who here has desperately over traded into Friday afternoon to avoid dwelling over your losses?

Third, I've heard swing traders prefer not to hold over the weekend. Too much can happen over 60+ hours of market closure.

There is no hard evidence to support these theories--just anecdotal tales.

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The answer is its depends and you shouldn't be biased in any way any time you trade our it might mess you up psychologically. Volume could be lower, same as days before holidays like the 24th of december, but I would not generalize, there are always opportunities and if there are none, then you can either not trade or lower exposure.

For example, yesterday for me was a great trading day, there were a lot of opportunities; and my expectations were much lower. 

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I have had my best and worst days on Fridays so I would guess it's like all aspects of Day trading, everyday is random and equally unique.

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