When is The Best Time to Trade Forex?

When is The Best Time to Trade Forex?

Posted on January 25, 2015 Admin

This is perceptive what time you are going to trade or what time technically is the best to trade because it always starts with what style of a trader you are and how much time you can give to finding your trades. While a scalper can spot a small trade every one hour, the swing trader wants to take one nice trade everyday but only with a limited schedule. I come in the second category and the news is that market moves well usually in Late Asian hours, at least about twice a week. This is the time when the major action happens in the market but as it is said, the market cannot be timed. Randomness is not only in the direction of the market, the time of the action also is random. It keeps moving from Asian hours to New York session, sometimes to Tokyo hours, to London session sometimes. Last few years it has been the late Asian hours but it will be wrong to assume that this specific time can be eternal and the biggest move will always continue to come. Remember the rule; Market has no rules, no rules to its movement, no rules to its direction, and no rules to its time of movement. Time keeps changing, so the first thing that I need you to understand is that market need not be timed, it’s your trading that needs timing.

You can always time your trading so as to suit your own style and own temperament and of course your own need. Even small moves can be converted to Good profits, and small moves keep coming every one hour. That’s what a scalper does, depends how much time you can give to markets. You are a Good trader if you trade without disturbing your daily activities. To keep a discipline, you can follow the economic news calendar so that you know when it is that you have to come to the markets and when you can expect the action. Though it’s not my style but it is believed that mostly at the time the news is released, some good action follows, money can be made in a matter of few minutes provided the brokers give you that fill and then you are free (till next news). It may demand a little study of brokers firsthand as most of them do not allow trading news. But it is a good way of keeping yourself organized.

Another Good thing to follow if you do technical is that you analyze your charts only on the weekends and then throughout the coming week, you keep checking the rates everyone hour. All opportunities that come, you take and all those that don’t, you discard. Reanalyze the charts on Saturday or Sunday and find newer opportunities. Repeat the schedule on days that follow.

Remember the rule is that we are not looking for big and bigger moves; we are looking for small but “fast- ending moves”. If you do that, you’ll realize that getting big profits everyday is not as important as it is to get small but fast and consistent profits. For that, market is moving all the time, only requirement is to complete your mathematics and decide what time your routine allows you to check the rates. If you are on a full-time Job, then follow the Fundamental routine, if not, and then come to scalping, full day or all night long.

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