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  1. #1
    Junior Trader
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    What is a “good” time to trade forex?

    Here we will be going to take a look what are the best months of the year and the best days of the week to trade forex. The foreign exchange market is open 24 hour for 5 and a half (Sunday) days a week around the whole year. But there are certain times when it is more attractive to trade.

    Best Months to Trade

    The worst months for trading are certainly the summer months of June (second half), July and especially August. Many institutional traders in Europe and North America are on vacation which results in less trading activity in general, drying up of trading volume and smaller swings in currency pairs.

    If you trade during the summer months you will have to take into consideration that prices will be range-bound for a long time and get rather unpredictable. Starting in September – usually after Labor Day in the US – trading activity picks up again as traders return to their desks. Then the best three months of the year follow until volume dries up again in the second half of December as traders take extended Christmas holidays. From January until May it is also very good to trade as we usually witness good swings during these months.

    Just be very cautious during the summer period and during the second half of December. What normally works in “normal” conditions might not work during these low volatility months.



    Best Days to Trade

    While the Forex market already opens on Sunday evening Central European Time (Monday morning in New Zealand and Sydney) it is not recommended to start your trading week on Sunday already. Unless there was major news over the weekend there won’t be much going on as volumes and volatility are usually at an extreme low on Sunday evening.

    Monday can also be very difficult to trade as many traders – especially in Europe – wait for economic news and macro data before they put up new positions. Trading ranges on Monday are usually smaller on average compared with the other days of the week. Tuesday, Wednesday and Thursday are considered to be the best days of the week for forex trading. These three days are usually the days which get the most action. If you want to trade only three days a week and spend the rest of the week at the beach you should chose these three days.

    The first half of Friday is also pretty decent for trading but please be aware that volumes dry up in the second half of the day as traders head for the weekend. Be also aware of the fact that on Friday trends which have persisted for the whole week can be reversed on Friday’s as traders close their positions to avoid the weekend risk. You should be especially cautious on the first Friday of each month as this is the day when the non-farm payroll report from the US is due. This data usually leads to erratic swings in all major currency pairs, especially in the dollar related pairs.

    If there is a holiday in more than one major financial center such as Easter Monday or Christmas we usually also witness a drying up of volumes and sometimes erratic swings. Be especially careful on these major holidays as most of the big traders are off their desks. If you avoid these low volatility days you will usually diminish potential frustration and boost your performance.
    Last edited by sanjay.patel; 05-19-2014 at 12:02 PM.

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  3. #2
    Junior Trader
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    I don't account for days of the week in my forex trading. As I am fundamental trading, my involvement in trading depends on when news come out and it can be any day the market is trading at..

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  5. #3
    Moderator
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    Hello Guys,
    I think the fundamental matter is the whole type, but definitely a trader needs to have an entering point for a position and the entering point results from technical aspects. fundamental is a light for the trading road, because it affects the story from the top and no details will be affected and determined, other than it is not fundamental.
    ofcourse this is my opinion..
    Thanks

  6. #4
    Junior Trader
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    In my view, I have seen the first friday of each month is important because of NFP, and I have learned that this is the mother of all the news, after that FOMC meeting has importance, but the main thing is NFP, Non Farm Payroll. If a trader has fear of big spike or fluctuation of this fundamental then he shouldn't trade at that news, otherwise all the news have somehow high and low impact, but NFP may change the direction and trend of market.

  7. #5
    Junior Trader
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    actually I think its depend on you, because all times we can forex trading, but some people like trading in news time. in a news times we can earn huge money but its so risky for new trader. so also without news time you can make money

  8. #6
    Admin of Indonesian Forum
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    Forex trading is running for 24 hours a day since Monday to Friday. In this case a trader can be a marathon trader during that time. When I was a new trader I think that I can trade during 24 hours because I only think that I must have profit. But this is a boomerang because a trader must know the best time to forex. Now I trade only when Asia open, London open and America open.

  9. #7
    Administrator
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    Thanks for your contribution. Actually, good time means safe entry point. Though, I have basic and advance level of trading knowledge. Therefore, it’s easy for me to know good entry points from my own trading skilled. But, if you can’t manage good points that means to have learn more for improving your trading skilled. Personally, I always take my decision according to my analysis. I open my trade by technical as well as fundamental analysis of market.

  10. #8
    Golden Trader
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    ​I have been doing my Forex Trading with FXOpen Markets from the last 10 Years and they are very Reliable and Trustable International Forex Brokers

  11. #9
    Golden Trader
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    We will need to make use of such kind of a Forex Broker which is Regulated and that is Truly International like FXOpen

  12. ARIONFORXtarder
 

 

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