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|Best Days of the Week to Trade|
Forex trading involves substantial risk of loss and is not suitable for
all investors. Forex, the market where international currencies are
traded, is open for trading 24 hours a day, five days a week. But not all
times are ideal for trading as there are some optimal times to trade Forex.|
Liquidity and Volatility
During what times is the market most liquid? In other words, when is it easiest to enter and exit positions? And, during what times is the currency you're trading the most volatile? (Volatility is how much price changes in a specific period of time. The answer to these questions depends on the day of the week and the time of day the trading is occurring.
A Day to Avoid
If your strategy depends on recent intraday price history, and your broker is based in the U.S., consider staying out of the market on Sunday. U.S. brokers miss one hour of trading every Sunday, so their charts are less than completely accurate. Sign on with a non-U.S. broker, such as Alpari (UK) or Dukascopy, to solve this problem.
Best Times of the Day to Trade
Learn the start and end times of the different sessions:
London session hours are 8:00 to 17:00 GMT. New York session, 13:00 to
22:00 GMT; Sydney, 22:00 to 7:00 GMT and Tokyo, midnight to 9:00 GMT.
Avoid News Time
factor to consider is news time. The bigger potential impact that a news
event has on the currency pair you're trading, the wiser it is to wait
until after the news has passed before you take a position.
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