Knowing when to enter the market is crucial to exercising a good technical trading strategy. There are many pitfalls that inexperienced traders experience because they are entering the market when the probability for making a successful trade is reduced. So when is the best time to look for a trade and why?
The best time to look for a trade is when there is heavy volume in the currency markets. Since the Forex market is open 24 hours per day, its best to find the times when multiple countries markets are trading at the same time. Every Forex market in the world operates from 8 a.m. to 4 p.m. in their respective time zones. In order to take advantage of the chance of many trades developing, one needs to look at when the Forex market times in different countries overlap. In the overlapping times when multiple markets are open, generally there is the most volume and pip movement.
For instance, it is best to trade the EUR/USD, USD/CHF, or GBP/USD between 8am EST and 12pm EST because the US market is just opening at 8am EST while the European market is finishing up for the day. Another good time to trade is in the middle of the night from 1am EST to 3am EST as...
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