Manage Trading Time Wisely
Managing trading time is caused by our inability to live 24 hours a day x 5 days for trading. Limitations that require us to manage the trading time wisely.
There’s no way you can trade in all sessions. Even if you can, why? While the forex market is open 24 hours a day, it does not mean that action or price movement happens all the time!
In addition, sleep is an integral part of a healthy lifestyle. Take a lot of money, but life is not healthy and tomorrow you die.
You need to sleep to recharge and have energy so you can do the most usual tasks like mowing, talking to your partner, getting entertainment, or organizing your collections and hobbies.
You will definitely need a break if you plan to become a great currency trader.
Every trader must learn when to trade. Also, every trader must know when to trade and when NOT to trade.
Knowing the optimal time you have to trade and the times you have to sit outside and just play some online games like Clash of Clans can help you to be entertained.
The Best Time to Trade
- When two sessions overlap of course! This is also the time when major news events appear to potentially cause some volatility and direction movements. Make sure you check the Market Time sheet to record the Opening and Closing times.
- The European session tends to be the busiest of the three.
- The middle of the week usually shows the most movement, as the pip range widens for most major currency pairs.
Worst Time for Trade
- Sunday – everyone is asleep or enjoying their weekend!
- Friday – liquidity fell during the final session of the US session.
- Vacation – everyone is resting.
- Major news events – you do not want to get caught in whipsawed.
Do not seem to be able to trade during the optimum session? Do not worry.
Greeting a happy trader.