Best Day-Trading Day

The last time I posted the best day to trade, I was assuming that everyone holds over-night positions. Apparently there are those that actually trade during the day and close all positions before the closing bell. These hardy souls are called day traders. Who knew? Knowing this, here's a break-down of individual trading days from 2008 to 2010 using QQQQ data, from opening bell to closing bell.

All charts include a bar for each year and the cumulative 3-year period between 2008-2010.

This first chart is for day-traders who "go long". Focus on the bars above the "0" line to get an idea of how each day has performed over the years.


Just so the short traders don't have to tip their monitors upside down, here is the same chart but with an inverted scale. Focus on the bars above the "0". The taller the bar, the worse the market performed, most likely resulting in a more successful short trade.






This last chart shows the intraday volatility for each day as an average % for the three years, and the cumulative average for the last three years.





Looks like the 2010 Wednesday stood head and shoulders above the other days for that year in the cumulative % gain department, and Thursday rules the intra-day volatility race for now.