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  • Most Suitable Days Of The Week To Embark On Trading Forex

    It is now clear to all and sundry that the London trade session is the busiest of all the sessions discussed so far. However, there are particular days of the week where every one of the markets seems to show more significant movement.

    It is essential that you know the most suitable days of the week you can trade forex session.

    Below is a tabular chart depicting the average pip range of all the major pairs slated for each day of the week.

    From the above chart, it is clear that the best time to trade is during the middle of the week because this is the time when most of the actions occur.

    Fridays are typically some of the busiest—going from 12: 00 PM EST, with the market dropping dead until it completely closes at 5: 00 PM EST. Therefore, it is clear that people only work half-days on Fridays.

    And the good news is that the weekend always kicks off early.

    Thus, based on the above findings, we now understand what the busiest and best days of the week are to embark on trading forex. The best time to trade is usually the busiest times, since high volatility is likely to create more opportunities.

    Below is a quick tip on the best and worst times to trade forex sessions.

    Most suitable times to trade

    • Of course, when two sessions are overlapping! These also represent the period where major reports come out with the potentials of sparking some level of volatility and profitable directional movements. Ensure that you bookmark the core market hours tip sheet to keep tabs on the opening and closing times.
    • The European forex session appears to always be the busiest compared to the other two major markets.
    • Typically, the most movement is shown by the middle of the week, as the range of the week widens for majority of the most important currency pairs.

    The most unsuitable time to trade

    • Beware of Sundays – a time when everyone is busy chilling, sleeping or just enjoying an “adult’s day out.”
    • The fear of Fridays is the beginning of wisdom to traders –a time when liquidity kicks the bucket during the early parts of the U.S session
    • Holidays are also worst days to trade forex on any session, as most people will be taking a break that doesn’t come often.
    • Major and critical news events – the last thing you want is to get whipsawed!
    • During a time when there is an importantnt show on TV, e.g., the Super Bowl, the NBA Finals, or an episode of the Game of Thrones.

    Does it look like as if you can’t trade during this optimal sessions? Hey, buddy. Don’t get worked up yet.

    You can, at any time, choose to be a position or swing trader. Don’t worry, we will come back to that later.

    In the meantime, let’s proceed to how you can conveniently make money trading forex. At this point, your intestines should erupt in excitement like a sugar factory.

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