Although Forex open 24/5 and we can trade at anytime we like but there are some days in the week and some specific time in the day that we need to be careful.
What is the best day for Trading Forex?
- Actually there is no rule for the day to trade Forex, but base in my experiences Tuesdays and Thursdays are the most movement of on all these major pairs – EUR/USD, GBP/USD, USD/JPY and USD/CHF….and if you pay more attention on these pairs you will see that if this week Tuesday and Thursday they have large moving and then the next week the large moving are going to be on Monday and Wednesday.
- Fridays are the day that I recommend to all new traders should stay out the market because sometime it slow down , sometime it move very fast. For me, Fridays is the day that we need to look the market move and do nothing.
- Saturdays are the time to do the research, check all the time frame in the week for all the pair that we are following up. Prepare everything for the next itinerary.
- Sundays : Don’t need to worry about the market, let our brain blank, take the rest, this is the time to be relax, do something fun with family.
What is the best time to trade Forex?
Before talking about the time we need to go over all the Forex time zone on around the world. There are four different time zone as the picture below.
- Look at the picture we can see that:
- From 20:00 to 2:00 there are two time zone Tokyo and Sydney overlap together. From 8:00 to 12:00 there are New York and London time zone overlap. That means there are more traders in the market and this is also the reason the price will move more stronger. I think these time are the best for traders.
- How about the News Releases times?: If you are new traders, stay away before an hour and after an hour at these times, wait for everything from the news before making any trading decision. All the releases time are in the RED CIRCLE.
However, the best time in a day and the best day on the week are totally it is up to you. That is depend on your trading strategies, your experiences, your plans ….
Good luck to your all!