The best time for forex trading

Traders usually trade in the wrong moment because they use M1 and M5 charts. A better solution is to use H1 charts for trading with binary options. It depends on what kind of trader you are. There are traders who prefer M15 charts. So you need to define what the best time frame charts are before start trading. A trader should feel comfortable when he is trading. No pressure needed. You need to use the best time for trading. The choppy market is when London and New York overlap and that is related to currency pairs. Never trade on a Friday. Most traders close profitable positions in forex trading. When London is closed at 17GMT, the market becomes quite and slow. That means you can only trade half a day on Friday. But there are also a lot of open trading positions to check out for money during the weekend. If a trader knows this information, he will make a profit. He will use the best time for trading.

The highest price movements in pairs occur on Wednesday and Thursday. GBP/USD is the pair with the highest volatility. The second is the EUR/USD, and the third is the USD/CHF while the currency pair with the lowest volatility is the USDJPY. A trader can decide that the highest volatility was on Wednesday because of the FOMC’s statement, interest rate decisions or because a governor of a central bank spoke. If traders decide not to trade on a Wednesday when it suddenly has the highest volatility and it’s easier to make money, will they have more problems?

On Friday price movements can't be predicted. This day you can lose your money. Traders that trade on Fridays are those who want to cut losses. NFP it’s usually published on the first Friday of the month. It will be influenced by the market. The last report was worse than expected. It was disappointing. Traders hoped that the US economy would recover. They wanted to be sure if the global economy is going to another financial crisis. It is expected to be 195000 after falling to 151000 in the previous month. On Sunday you will start your trade with one or two lost trades. The banks are closed and there is no trading activity. During the holidays banks are closed. It is the smallest trading volume so it’s better not to trade during the holidays. You can go fishing or enjoy your life. Trading during the news is bad luck. The trader doesn't know what the price direction is after a published economic data. Price jump up/down during the news. It is highly unpredictable.

If you work or sleep in this time zone you can't trade in the best hours. You can provide yourself with better solutions. You can use London's trading session or change your life and habits. Trading during the work can be bad. You have one job, you can’t afford to lose it. What happens if the boss notices that you’re trading during the working hours? Did the employer paid you to trade instead of working for him? In the case you want to trade for a living you have to become a master trader. You can also become a position trader and trade when you go back from work. If you can't trade during EU and US session you can trade during Asian trading session. You just have to learn how to read the charts.

When you watch the charts you can learn the real story of price movements of the assets you trade. It is better to watch live charts than history charts. Practice more before start trading. This way you will be a better trader. You decide when it’s easier to make the money. You will know how to trade during the week, I mentioned the best worst days for trading. Avoid to trade during the news and events. The price can be gone in opposite direction and you lose your money.

If it is the bank holiday in Japan and China you can safe trade EUR/USD and GBP/USD. Published economic data can shake the market shortly. Brokers work for a short time during the Christmas and New Year's holiday. There is no technical and fundamental analysis. So many traders decide to break the trading between Christmas and New Year. Major market players are removed from the market temporary. But they still hold open profitable positions. The worst days for trading are from December 15^th to January 15^th. Price movements can be traded in a trend channel and provide a fake signal. In the moment when you notice a breakout support/resistance. You can enter buying a position when you expect the price will be broking the resistance line and you can fail. The price bounces back and you lose. A similar situation is when you want to trade a selling position when you expect the price will drop the first support level. You open a short position but the price bounces and start to rise. You lose again.

In the campaign for the UK to stay or to leave the European Union. If the UK leaves the EU, what will be the global effects for Eurozone countries and the UK separately? Investors have been expecting a shock in the market at a global level. It was bad for the UK. The pound dropped very much against the US dollar, euro, yen and the Swiss franc when it was official that the campaign to leave the EU won. UK will be leaving the EU and possibly the European Single Market. Oil is still in a declining trend line. It is discussed that countries should cut oil production. Saudi Arabia and Russia are concerned. They expect that the price will reach $45-$50 per barrel this year. Iran was also starting to sell its oil in the global market. Sanctions have been suspended. The oil prices are still lower with a smaller correction. So far no clear answer of what will happen in the future.

Summary

The best time for trading is when London and New York markets are both open. The best days for trading are Tuesday, Wednesday, and Thursday. Avoid to trade on Mondays, Fridays and Sundays. The worst time for trading is during news and holidays.