Best time to trade


I agree on the note that it all depend on an individual trader. London Open and New York open are two most volatile sessions. It is good to trade during these hours. However, a trader may not be able to make money with his strategy during these two sessions. His strategy may work in Asian session better. This is what he has to find out and trade accordingly.


Trader-based technical analysis choosing London and Newyork session as the busiest market, on these time there are so many banks in operation and logically the more transaction occur where money move from hand to hand increasing volume transaction on the currency, the increasing volume will make higher volatility on the currency.


2nd Lieutenant
Avoid trading during the market opening and closing hours, also a newbie may avoid trading on Fridays. Also trade in between the session, not immediately when a session is opening or closing.


I personally think that the best time to trade is quite a subjective matter.
It actually depends on various factors. First of all, it depends on the currency pair you trade. Different currencies have different pecularities and the time of the highest volatility is one of them. Secondly, it depends on your trading style. I mean that some traders prefer the market to be still while doing the market analysis. Other traders prefer to trade during the time of the highest volatility. Finally and most importantly, it depends on whether you have already made the plan of the future deals or not. I believe that planning is the most important and vital thing in trading. I never open the deal before I know what to expect from it. So, I feel that it is next to impossible to be a success on the market without a proper trading plan because a trader should know in advance what to do if some event takes place.


The best time to open a deal is after all the preliminary work is done.
One of the biggest mistakes in trading is trading without a proper planning. This results in so many bad consequences that many newbies lose lots of money right after they start trading. For example, one of the mistakes which leads to the huge losses is when a trader waits for the deal to become profitable for too long. They open a position for several hours or several days, but the price behaves not as they expected and they leave the deal open in hope that the price will bounce back some time. As a result, some deals are being opened for weeks and the situation becomes even worse. That is why it is of vital importance to have a plan for any kinds of situations on the market. It becomes easier when you use pending orders like stop loss which closes the deal automatically if the price hits some point. This makes the whole process more disciplined and predictable.


Does depend on the trader. Of course, there are times when it really isn't a good idea to trade at all, especially for beginners.