What is the Best Time to Trade the Forex Market?
The various online Forex video courses and LIVE Forex training courses have different opinions on the best time to trade the Forex. This is one of the most commonly asked questions by traders and we will reason on a couple of key points to help you to see what the best answer to this question is and possibly improve your trading.
A key reason traders in the Forex want to know when they should trade the Forex is because the Forex can be traded 5.5 days a week, 24 hours a day. This is the only market with continuous trading access all week long so it begs the above question.
Another reason people wish to have this question answered, is that most people learning to trade Forex already have busy schedules and are looking to find the optimum time to learn and find the most profitable trades. We have found that most traders are willing to adjust their schedules to be able to trade at the best time possible in the Forex market. As all other traders, we want to make the most money trading Forex in the least time possible but is this possible or reasonable?
For all of the uniqueness of the Forex market, there are similarities when it comes to the best time to trade it. When is the best time to trade the European equity markets? When is the best time to trade the US Commodities markets? When is the best time to trade the Asian equity markets? Unless you have a trading strategy that is specifically linked to the open, lunch or close of these markets then time is NOT a factor to consider when placing your trades.
Almost all traders trade with some form of technical analysis, whether it be support and resistance or RSI, CCI, MACD. Because most traders use these technical analysis tools to find high probability trading opportunities, they need to be prepared when the indicators signal it is time to trade and that can come at any time of the trading day and trading week in the Forex. Traders must trade when their indicators tell them to and to sit on their hands at all other time.
When trading the Forex market we recommend that you find a successful trading strategy and trade it whenever it appears. As traders with years of experience we can tell you that trades based on your set of trading rules can consistently appear at inconsistent times. The greatest danger this poses to most Forex traders is that they will begin to force trades in the currency market that they should not be taking at all because their trade strategies occur at times they are not able to place trades.
There is no best time to trade the Forex no matter what Forex course, video or mentor tells you. Let experience with your trading rules show you that the best time to trade the Forex is when your trading rules tell you. - 23221
A key reason traders in the Forex want to know when they should trade the Forex is because the Forex can be traded 5.5 days a week, 24 hours a day. This is the only market with continuous trading access all week long so it begs the above question.
Another reason people wish to have this question answered, is that most people learning to trade Forex already have busy schedules and are looking to find the optimum time to learn and find the most profitable trades. We have found that most traders are willing to adjust their schedules to be able to trade at the best time possible in the Forex market. As all other traders, we want to make the most money trading Forex in the least time possible but is this possible or reasonable?
For all of the uniqueness of the Forex market, there are similarities when it comes to the best time to trade it. When is the best time to trade the European equity markets? When is the best time to trade the US Commodities markets? When is the best time to trade the Asian equity markets? Unless you have a trading strategy that is specifically linked to the open, lunch or close of these markets then time is NOT a factor to consider when placing your trades.
Almost all traders trade with some form of technical analysis, whether it be support and resistance or RSI, CCI, MACD. Because most traders use these technical analysis tools to find high probability trading opportunities, they need to be prepared when the indicators signal it is time to trade and that can come at any time of the trading day and trading week in the Forex. Traders must trade when their indicators tell them to and to sit on their hands at all other time.
When trading the Forex market we recommend that you find a successful trading strategy and trade it whenever it appears. As traders with years of experience we can tell you that trades based on your set of trading rules can consistently appear at inconsistent times. The greatest danger this poses to most Forex traders is that they will begin to force trades in the currency market that they should not be taking at all because their trade strategies occur at times they are not able to place trades.
There is no best time to trade the Forex no matter what Forex course, video or mentor tells you. Let experience with your trading rules show you that the best time to trade the Forex is when your trading rules tell you. - 23221
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Looking to for the best LIVE Forex training, then visit www.forexactivetrader.com to find the best forex course for you.
posted by X - Men @ 1:55 AM
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