The best day to trade should be when there’s the most pip movement.
It is known or as you say with the overlap that the London session is the busiest out of all the other sessions, but there are also specific day of the week where there is more movement in the market. It is very important to know the best days of the week to trade forex.
As with higher average pip movement probably be best to trade during the middle of the week, since this is when the most action happens.
Fridays are usually very busy until 12:00 pm EST and then the market pretty much drops dead until it closes at 5:00 pm EST. This means we only work half-days on Fridays.
More time for the weekend since it starts earlier we can relax a bit more..cheers
So because of all these, we’ve can see or understood when the busiest and best days of the week to trade forex are. The busiest times are usually the best times to trade since high fluctuations tends to present more opportunities.
Managing your Time Wisely
Unless you’re vampire, who does not sleep, there is no way you can trade all sessions. Even if you could, why would you? While the forex market is open 24 hours daily, this doesn’t mean that action happens all the time!
And as all health gurus say, sleep is an integral part of a healthy lifestyle!
You need sleep to reenergize and have energy so that you can do even the most mundane tasks like taking the dog for a walk,mowing the lawn, organizing your stamp collection or talking to your spouse. You most definitely need your rest if you plan on becoming another one of the people making a killing on the FX market.
Most important is every trader should learn when to trade.
Actually, even better is.
Actually, even better is.
Every trader should know when to trade and when NOT to trade
Here’s best and worst times to trade:
Best Times to Trade:
- When two sessions are overlapping of course! These are also the times where major news events come out to potentially spark some volatility and directional movements. Make sure you bookmark the Market Hours cheat sheet to take note of the Opening and Closing times.
- The European session tends to be the busiest out of the three.
- The middle of the week typically shows the most movement, as the pip range widens for most of the major currency pairs.
Worst Times to Trade:
- Sundays – everyone is sleeping or enjoying their weekend!
- Fridays – liquidity dies down during the latter part of the U.S. session.
- Holidays – everybody is taking a break.
- Major news events – you don’t want to get blindsided
If you cant trade during the optimal sessions? Don’t worry. You can always be a swing or position trader. More on that later.
Lets move to HOW TO MAKE MONEY IN FOREX..
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