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Chapter 4, Part VI. When should we trade?

Discussion in 'Complete Trading Education- Forex Military School' started by Administrator, Apr 4, 2011.

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  1. Administrator

    Administrator Just Administrator :-)

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    Part VI. When should we trade? [​IMG]
    Pipruit: So, as I suspect, we finally, have known all necessary stuff about trading time. May be we should turn to trading directly?​

    Commander in Pips: Hold your horses, son…

    Pipruit: More studying? Noooo!!!​

    Commander in Pips: Just one final step remains – what about suitability for trading of a particular trading days?

    [​IMG]

    Pipruit: Well, are they might be different?​

    Commander in Pips: Of course!

    Pipruit: In this case, I think, I should be patient for a little while longer…
    Commander in Pips: Wise decision, son. So, in terms of week days, some are more suitable for trading that others. The Forex market does not different much from stock market, for example. Popular wisdom tells us that at the beginning of the week, the most part of pubic traders enter the market due to analysis that they have made during the week end. Professionals rather trade during the whole week, and closely look at initial splashes of activity that arose from public analysis and decisions. Then the market starts to show its real power. Even more, in stock market, this happens during the day also, because stock market has an open and close of its daily trading session. The public enters the market in the morning, based on analysis that it has done previously, and then turns to daily jobs, while professionals control real daily trends. That’s why open intraday gaps on stock market will close later in the day.

    The same situation is similar on Forex, but it is more typical for price action during the week instead of during the day, because Forex is 24/5 market.

    Pipruit: And what should I do then? Do not trade until will see the “power of professionals”? Is it dangerous to trade until that becomes visible?
    Commander in Pips: Of course not – trade your own trading plan that is based on your analysis. But keep an eye on price action during the whole week, even if you have a job somewhere else and trade on a weekly basis. You should understand that professionals very often trade against the public and you should recognize such types of traps, just to not to get caught in one. So for that purpose we’re here.
     
    #1 Administrator, Apr 4, 2011
    Lasted edited by : Feb 7, 2016
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