I generally go through all my accounts on Mondays and review the last 7, 14, and 30 days of performance to identify any trends or performance anomalies. After selecting my optimization date range, Target ACOS, and prioritization, I push my bid changes live.
As I monitor performance throughout the week, sometimes I'll do one more smaller round of optimizations; i.e., only selecting 1 or 2 of the "Targets to Optimize" in the Advanced Settings:
Example of of a smaller mid-week adjustment:
We have found that not only do daily adjustments have no beneficial impact to performance, they also muddy the change history which makes tracing performance issues to the root cause an impossible task.
By adjusting your bids once a week (with perhaps a minor mid-week tweak), you can maximize performance from your ads and have a clear version history for tracking performance.