AMZN 5/19/2023: Day of Week and Day of Month are Both Bearish for Intraday Trading [Article] (Point-and-Click TradeStation® Strategy)
![AMZN 5/19/2023: Day of Week and Day of Month are Both Bearish for Intraday Trading [Article] (Point-and-Click TradeStation® Strategy)](https://eadn-wc02-5937971.nxedge.io/images/trading-idea-images/2023/05/19/quagensia/amzn-2023-05-19-day-of-week-and-day-of-month-are-both-bearish-for-intraday-trading-t.png "AMZN 5/19/2023: Day of Week and Day of Month are Both Bearish for Intraday Trading [Article] (Point-and-Click TradeStation® Strategy)")
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You may have excellent reasons for going long AMZN on tomorrow’s open, but just be aware that tomorrow is a Friday and also the 19th of the month, both of which are historically bad days for going long AMZN on the open.
Fact #1: According to our backtest in TradeStation® 10 using its market data, over the last 10 years, Friday is historically the worst day of the week to go long AMZN on the open, as can be seen by this bar chart of arithmetic and geometric means of the % change from the open to the close for AMZN, which was generated based on all the differences between the open and close prices of all the daily bars for AMZN from 5/20/2013 to 5/18/2023.
![Screenshot for point-and-click trading strategy "AMZN 5/19/2023: Day of Week and Day of Month are Both Bearish for Intraday Trading [Article]"](https://eadn-wc02-5937971.nxedge.io/images/trading-idea-images/2023/05/19/quagensia/amzn-2023-05-19-day-of-week-and-day-of-month-are-both-bearish-for-intraday-trading-t-1.png "Screenshot for point-and-click trading strategy \"AMZN 5/19/2023: Day of Week and Day of Month are Both Bearish for Intraday Trading [Article]\"")
The bar chart above is based on the Excel worksheet that you can learn how to download and use with Quagensia T Edition and TradeStation® by following the instructions in the 2 minute 4 second Best Day of Week to Trade (Uses 2-Dimensional Array and Microsoft Excel) portion of our video titled Using & Customizing the Built-In Strategies in Quagensia T Edition. The full article titled Best Day of Week to Trade (Uses 2-Dimensional Array and Microsoft Excel) (T Edition) contains a zip file with the Microsoft Excel workbook. The aforementioned 2 minute 4 second video has the instructions for this workbook.
Fact #2: According to our backtest in TradeStation® 10 using its market data, over the last 10 years, the 19th is historically the 6th worst day of the month to go long AMZN on the open, as can be seen by this bar chart of arithmetic and geometric means of the % change from the open to the close for AMZN, which was generated based on all the differences between the open and close prices of all the daily bars for AMZN from 5/20/2013 to 5/18/2023.
![Screenshot for point-and-click trading strategy "AMZN 5/19/2023: Day of Week and Day of Month are Both Bearish for Intraday Trading [Article]"](https://eadn-wc02-5937971.nxedge.io/images/trading-idea-images/2023/05/19/quagensia/amzn-2023-05-19-day-of-week-and-day-of-month-are-both-bearish-for-intraday-trading-t-2.png "Screenshot for point-and-click trading strategy \"AMZN 5/19/2023: Day of Week and Day of Month are Both Bearish for Intraday Trading [Article]\"")
The bar chart above is based on the Excel worksheet that you can learn how to download and use with Quagensia T Edition and TradeStation® by following the instructions in the 1 minute 40 second Best Day of Month to Trade (Uses 2-Dimensional Array and Microsoft Excel) portion of our video titled Using & Customizing the Built-In Strategies in Quagensia T Edition. The full article titled Best Day of Month to Trade (Uses 2-Dimensional Array and Microsoft Excel) (T Edition) contains a zip file with the Microsoft Excel workbook. The aforementioned 1 minute 40 second video has the instructions for this workbook.
It is not difficult to reproduce the bar charts in this article. The combined video instructions linked to above are under 4 minutes. The great thing is that you will then be set up to generate these bar charts very quickly using a date range that includes the previous trading day’s daily bar for any instrument you are considering trading.
Note that the bar charts in this article were generated from a backtest in TradeStation® 10 using its market data, which is not dividend-adjusted. Due to the lack of dividend-adjusted market data, we chose a stock that has never paid a dividend because we wanted to be sure that the differences between the arithmetic and geometric means of the % change from the open to the close of the daily bars for each of the days of the week and days of the month were not mainly due to the lack of dividend-adjustments. Note also that AMZN had a 20:1 stock split on June 6, 2022, so the open and close prices of the daily bars prior to that date were divided by 20 then rounded to the nearest penny in the TradeStation® market data so the results of our backtest, including the relative performance of each day of the week and day of the month, could have been impacted by this rounding.
This trading idea is subject to the disclaimers in our Terms of Service.
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These point-and-click trading strategies are built into Quagensia T Edition (for TradeStation®).
Customize Quagensia Strategies with Your Own Ideas
Tweaking Quagensia Trading Strategies using point-and-click with the Quagensia Desktop Application is easy for non-programmers. If you get stuck you can usually find the answer you need in our online help documentation or you can ask a question in our friendly Discord community.
If you don’t want to tweak a Quagensia Trading Strategy with point-and-click to add your own proprietary trading logic, you can still download a Quagensia Trading Strategy file, open it up in the Quagensia Desktop Application, and generate its code, then backtest and optimize the trading strategy on different instruments, different bar periods (weekly bars, daily bars, hourly bars, 15-minute bars, etc.), or different bar types (time-based bars, volume-based bars, tick-based bars, etc.), and use different start and end dates.
Some tweaks you can make to the Quagensia Trading Strategies you download include:
Modify the entry & exit logic.
- Add more conditions, remove conditions, or change them by choosing from among a very large number of components, including many exotic indicators.
- Add or modify stop losses, trailing stops, and profit targets. Make them tighter, less tight, or based on an entirely different calculation.
- Add or modify time stops. For example, exit after a certain number of bars either unconditionally or only if the post-entry price action did or did not exhibit certain characteristics.
Enhance the output of the strategy to go beyond simply placing orders.
- Draw lines, shapes, and text on the chart. For instance, you can mark times or prices where each entry or exit condition of a multi-condition entry or exit was true, even if all the necessary entry or exit conditions were not true at the same time so an entry or exit did not occur.
- Write information to NinjaTrader®’s NinjaScript® Output window or TradeStation®’s EasyLanguage® Print Log window.
- Write information to a file. You can even output a report that can be opened in Microsoft Excel or consumed by another application that reads comma-delimited, semicolon-delimited, or otherwise character-delimited tabular data files.
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