Forex is a market that trades 24 hours a day. So when is it a good time to trade Forex? That is mainly dependent on your methodology for trading. For me, any time during the week is a good opportunity to enter the market as I trade on a daily chart. So whether I enter during the Asian, Australian, London, or US market has no bearing to my trading style. However, what about the intraday trader? When is a good time to enter into the market.
Ideally, it is best to enter into the market when the market is most volatile. When the market is moving well, this allows one the most opportunity to profit. The market can tend to be more predictable in a fast moving market. When the market is slow, it can be a difficult read. There can be unpredictable moves that defy what one might have traditionally been taught of the market. Now this isn’t always the case, but it is a general rule of thumb.
So when is the market the most volatile? When a market first opens for the day, there tends to be volatility. There are a lot of traders that will initially place their entries at the opening of the market. Then when those positions are made, there is continued movement as a result of the market reacting to the initial positions placed. So the first half hour of every market open can be a good time to get into the market.
If you have a desire to trade over a longer period of time, then focus on trading during times markets overlap. The most volatile time of the day is when the London market overlaps the New York market. Both markets are fairly active on their own, and when the two combine there is good action that results from it.And if you care to trade an entire market’s session, then I suggest trading either the London or New York markets.
Between all these various times, I’m certain you can find a time in your schedule where you can analyze the market and open a position during a time of volatility. No worries if you can’t. Just step away from any chart under an hour and focus on a larger time frame that will allow you the time you need to trade Forex.
If time is still not on your side, do not feel as if you cannot take advantage of the potential that lies within Forex. Kissfutures.com offers a trading system that can net you a solid 100+ pips per week and you do not even need to be by your computer. They have crated an trading robot that works on Metatrader 4 to automatically place the trades for you. If you do not currently have a broker that offers Metatrader 4, then I would suggest 4xp.com as they are a recommended broker from the FX Trading Network that offers this particular trading platform.
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I have a good site that will help you understand when you should trade it has free alerts and live training twice a week it is http://www.getforexalerts.com another forex provider
Comment by candlestickman — December 21, 2009 @ 4:11 pm
Trading time can make a difference but, if you don’t have the time I use free trade alerts from http://www.getforexalerts.com
Comment by MIBLUE — February 10, 2010 @ 6:39 pm
I learned everything I needed to become a successful Forex trader here:
http://www.real-world-forex.com
Comment by Susan — February 15, 2010 @ 4:21 am
Thanks for the good information on what a margin is and what it can do for you.Using a stop loss and keeping your margin low, does help in contolling your losses even when you are using a forex software to trade for you.
Comment by forex — February 17, 2010 @ 3:11 pm
In Forex Trading first you need is to read the update forex news and the forex calendar than check the 24 hrs trend which way it moving upward or downward and then either make a buy if it going upward or a sell it going downward with a selected choice of take profit.
Comment by Forex Deposit — March 5, 2010 @ 4:07 am