What Is the Right Time to Trade?

ituglobal

Master Trader
Apr 17, 2013
482
23
59
“Trading success depends on your system, your relationship with yourself and your relationships with others. Your feelings drive all of these components. When I first started, I thought it was all about the system. How silly and naïve I was in those days.” – Mike Melissinos

What do you think is the answer to the questions that makes the topic above? There’s no general answer, for it depends on your trading style and approaches. Let’s take some examples.

A scalper looks for opportunity to enter the market in the short-term, and when the opportunity presents itself, the scalper enters the market immediately, taking advantage of short-term market movements. Some swing traders or positions traders have various entry criteria for opening and closing positions. Some enter immediately the entry criteria are met, while some would wait for the market to close or the following day before they enter.

Some traders use pending orders to take advantage of certain price actions and once a pending order is filled, trading begins. Some speculators use fundamental events to enter the market as soon as the entry requirements are met and some use fundamental events to project long-term movements.

As you can see, the right time to trade really depends on your trading style and approaches. Once you enter the market by whatever means or criteria you choose, just make sure that you stick to your trade management rules – plus entry and exit rules. Irrational emotions tempt speculators to go against their rules. While it is difficult to control one’s temper while driving on a busy road, some have learned to control their temper while driving. You can control your emotions while trading and therefore, avoid taking actions that you’ll later regret.

This piece is ended with the quote below:

“Trading success comes from developing for yourself a good, well thought-out trading plan. That’s a plan which is based on your personal needs, strengths, interests, and all of that.” - John Forman
 

ESinvest

Newbie
Feb 12, 2015
31
0
2
Totally agree with you. The best time for trading will always be given by your currency pair and your trading style and plan. My favorites trading hours are between 7am and 12pm GMT, when both NY and London are open.
 

bablogfx

Confirmed HotForex Representative
Oct 24, 2013
190
3
27
Totally agree with you. The best time for trading will always be given by your currency pair and your trading style and plan. My favorites trading hours are between 7am and 12pm GMT, when both NY and London are open.

Yeah this time market has strongest liquidity and orders are executed with min. slippage. Spread widenings and market gaps are also rare to occur especially for major pairs.
 

davidblack

Trader
Jun 19, 2014
77
2
17
The best time is when markets sessions overlap this is the time when markets are highly liquid because there are more participants, which means more volume and momentum to fuel currency trends and trend breakouts. This also tends to be when economic data is released, providing the triggers for the movements in currencies.
 

olivine

Trader
May 21, 2015
140
0
7
The best time is when markets sessions overlap this is the time when markets are highly liquid because there are more participants, which means more volume and momentum to fuel currency trends and trend breakouts. This also tends to be when economic data is released, providing the triggers for the movements in currencies.

Overlap market conditions are good time for trading but I think we should make our entries before this overlap session and then decide about exits in this overlap session.
 

jellyeb

Active Trader
Jun 10, 2015
248
11
29
Best times to trade is the session cross time when liquidity is best and your orders are executed with no or least slippage as well as tightest spreads.
 

Jesse.muller

Trader
Mar 26, 2015
23
0
7
There never is a right time there are so many factors that influence this, for example news facts, economical shifts in the pairs country, etc
 

eagle

Trader
May 21, 2015
103
1
9
As I am a swing trader, I trade on daily time frame. So for me the best time to check for setups and enter any trade I see is when a new daily candle is formed.
 

SurtiTrader

Trader
Jul 28, 2014
40
0
12
I do believe that many pairs has their favorite but according to me the best time is during the news release as we can predict the price easily.
 

Kent

Trader
Jul 10, 2015
2
0
7
With Forex you need to have a very good time management skills. Timing is everything when come to Forex
 

ProFXManager

Active Trader
Jun 7, 2015
35
1
27
Germany
depending on your system, trend trading is better long term, therefore tf is not so important, if you are a scalper, tf 30sec to 15min are the right choice
 
The middle of the day tends to be the most calm and stable period of most trading days. This is the time of day when people are waiting for further news to be announced. Because most of the day's news releases have already been factored into stock prices, many are watching to see where the market may be heading for the remainder of the day.
 

Binos

Newbie
Jul 29, 2015
8
0
2
You need to understand what the pair you are interested in and when news for this timezone (territory of the currency usage) starts and ends. News influence on the trading a lot.
 

SurtiTrader

Trader
Jul 28, 2014
40
0
12
You are absolutely right Binos. Each pairs have their favorable timings and thus the individuals requires to know the favorable timings of various pairs.