I have heard a great mob of people asking about the best time to trade. I have experienced a lot of trades and thus I personally believe that two times are the peak times to hit your target. One is the opening time of the forex market and the other is the closing time of the forex market. During these two times normally the market is inactive and you can easily hit the goal you decided to achieve. These are the times to raise or lower down the market values and points.
As most of my trades are in London and New York markets, so I trade during the opening and closing times of these markets. The opening time for London market is 8am, GMT and the closing time for London market is 5p.m. GMT. Similarly the Opening time for New York Market is 12p.m. GMT and the closing time for New York market is 9p.m, GMT. Here is a table that shows the opening and closing times of London and New York.
City Opening Time Closing Time
London 8a.m, GMT 5p.m. GMT
New York 12p.m. GMT 9p.m, GMT
I have also heard people saying what would be the best time of market for their trading system. This thing is really confusing because every trading system is set to different trading strategies and logics. So if you want to check the time that best suits your trading systems then you have to go for a demo account. That demo account will help you to understand that thing in an easy way and in a better manner. When you will put your system to operate on the demo account it will show you various results at various times. You have to collect all those results according to their market timing and then analyze that which time your trading system showed the best results on the average. In this way you will get the best market time for your trading system. Now when you will get the results you can use you’re trading system for real time trading during the best market timings for your trading system to get the maximum output in the form of great profit that your trading system earns for you.
Another thing that confuse people a lot are the trading indicators. I have face a great number of cases asking me what are the trading indicators, how they work and what information we can get by observing them? Indicators are the key things of the forex marketing.
These indicators show various fluctuations of the market. They also show various trends of the market. If someone can understand these indicators he can become a record breaking trader as these fluctuations and trends act as a backbone in forex market. If you want to step into forex trading business one must have to learn how to observe and analyze the indicators. Keep in mind these few things if you want to earn great profit out of your forex trading business.
Advice based on my statistics :
Trend system :
The best time to trade is afther 9.00 AM till 15.00 PM
Breakout System :
Anytime – forex indicators and forex news are the best signal for breakout trade.
Range system :
From 9.00 AM till 14. PM. In this time major forex fundamental news will be.
This is my experiance – and your ?