et’s bet on one day of the week! When do you think it is most exciting to trade?
We want to know if we are right, so let’s see a chart with the average pip range for the major pairs for each day of the week:
Did you say Wednesday or Thursday? If you did, you could become the next George Soros, cause you guessed right and it’s best to trade during the middle of the week, since this is when the most action happens.
Good news! Traders are humans as well!
They work half-day on Friday!
Fridays are usually busy until 12:00 pm EST and then the market pretty much drops dead until it closes at 5:00 pm EST.
It depends on your chosen trading strategy, but the busiest times are usually the best times to trade since high volatility tends to present more opportunities.
You need to learn how to manage your time wisely!
And the most important task among all is to have proper sleeping hours.
If you are exhausted, you can’t be concentrated and some drastic movements in the market can easily cloud your judgement. This will lead to making poor decisions and losing money.
This is the last thing you want, right?
The next rule is that you should learn when to trade and when NOT to trade.
Best Times to try making money:
When two sessions are overlapping, especially during London – USA overlap!
When major news events happen and spark suddenly some volatility and directional movements.
The European session tends to be the busiest out of the three.
The middle of the week typically shows the most movement, as the pip range widens for most of the major currency pairs.
Worst Times to try making money:
You might not lose your money, betting on Sundays, but for sure you won’t be profiting as well – there are no movement or anything exciting happening, except that everyone is sleeping or enjoying their weekend!
On Fridays, the liquidity dies down during the last hours of the U.S. session.
Holidays – it is surprising, but traders celebrate holidays, as well! You thought that you could say you have work and avoid your whole family visiting ya this year? Nope! Behave and enjoy it, cause nobody will be trading anyway!
Be careful and stay away from when major news events happen – you don’t want to be in the middle of a conflict!
Ok! Now you know when to trade and when not to, you are ready to tell you how you can make money by trading currencies!